Digital Media Company, ValueFirst has acquired Way2online – a Hyderabad based Consumer Focused Internet Technology Company, which owns and operates Way2sms.com and 160by2.com – in an all cash deal (expected to be in the ballpark of Rs. 200 Crores)
We earlier reported or rather broke the news of Way2SMS acquiring 160by2 in December, 2011.
The VFirst transaction is one of the largest acquisitions in the Internet industry in India that makes ValueFirst (as claimed) the largest digital media company in India in terms of revenue as well as the number of users. With this acquisition, ValueFirst will cross 50 million profiled registered users, add 40,000 fresh registrations daily and get to 250 crores of revenue this financial year.
“V. Raju – the founder and CEO of way2sms and his dedicated team have created a great asset that has huge scale, traffic, monetisation and has created excellent engagement with consumers. The potential to build further on way2sms.com, 160by2.com is immense as ValueFirst can now leverage the huge inventories that these sites have through its large sales infra and 4000 strong client base.
Way2sms has grown completely virally and despite Facebook’s popularity in India way2sms still adds an amazing 30,000 new registrations daily. Its one of the top searched keywords in India and more than 500 million contacts have been saved on way2sms.com. There is massive potential to explode the traffic further by creating social sharing with saved contacts – which is practically an extension of one’s phonebook”. [Kumar Apoorv, CEO, ValueFirst Group]
The acquisition acquisition brings in additional 37 million registered profiled internet users to ValueFirst.