The cofounder expects the acquisition of Valueleaf Group to drive substantial growth for VerSe Innovation, adding $100 Mn in revenue
With the addition of Valueleaf, VerSe now will offer a comprehensive ad stack solution, increasing value for all stakeholders
Bedi told ET that it was a cash-and-stock transaction
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VerSe Innovation, the parent company of news aggregator DailyHunt and short-video platform Josh, has reportedly acquired digital marketing solutions firm Valueleaf Group.
However, the company did not disclose the financial terms of the deal.
VerSe cofounder Umang Bedi told ET that it was a cash-and-stock transaction.
Bedi further said that acquiring Valueleaf Group is expected to drive substantial growth for VerSe Innovation, with projections of adding $100 Mn in revenue and achieving a 10% EBITDA margin in FY25.
“The aim is to create an India-centric, largest ad retargeting and exchange platform. We’ve seen significant success on the Valueleaf side, where by June 30, we had already reached a Rs 732 crore ARR (annual recurring revenue) with nearly 10% Ebitda,” Bedi added.
VerSe has made several acquisitions, including New York-based digital magazine store Magzter in April 2024, to expand its portfolio with premium English content. With the addition of Valueleaf, VerSe now offers a comprehensive ad stack solution, increasing value for all stakeholders, according to the cofounder.
Bedi told ET that Valueleaf brings 15 years of performance data and significant expertise in building supply-side integrations with over 50,000 websites, 1,000 apps, and various smartphones. He also mentioned that Valueleaf has developed vertical-specific solutions like Buddy Loan for FSI, Whistle Feed for SMBs, and Share and Earn, which act as lead engines in performance marketing for digitally native companies.
Founded by former Facebook India managing director Umang Bedi and Virendra Gupta, VerSe Innovation secured $805 Mn in its last funding round in 2022, led by existing investor Canada Pension Plan Investment Board.
This comes at a time when VerSe Innovation, despite raising $805 Mn in 2022 and nearly $1.5 Bn in total, is struggling with monetisation challenges, particularly for its short video app, Josh. Once leading the Indian short video app market, Josh has now faced setbacks, scaling down operations and letting go of 50-70 employees in recent months as revenue generation remains a significant hurdle.
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