Delhi-based Internet media and news startup, ScoopWhoop Media has acquired Touchfone Technologies for an undisclosed amount.
With this development, Touchfone Technologies co-founders Mahesh Subramanian and Brahmayya Akella will be appointed as ScoopWhoop’s Chief Technology Officer and Chief Integration Officer, respectively.
Touchfone Technologies Pvt. Ltd, was founded in 2009, and it owns a video streaming and ad targeting service, Strmeasy. It is a video delivery platform that streams videos in low bandwidths. It offers end-to-end video solution which helps businesses manage and deliver videos with the highest quality irrespective of the device or network the user is on.
With this acquisition of Strmeasy, ScoopWhoop will focus on boosting the advertising offerings, with the help of targeted video ads which have the highest Cost Per Mille (CPM) rates in display advertising.
Speaking about the acquisition, Sattvik Mishra, co-founder and CEO at ScoopWhoop Media said, “We’re very excited to have Strmeasy technology come on board. Their unique technology is going to define the publishing spaces of ScoopWhoop, VagaBomb and Gazabpost, both from user acquisition and revenue point of view. We are looking forward to having Brahmayya, Mahesh and their incredibly talented technology team to script the next chapter of ScoopWhoop’s success.”
Founded in 2013 by Suparn Pandey, Rishi Pratim Mukherjee, Sriparna Tikekar, Debarshi Banerjee, Saransh Singh, and Sattvik Mishra, ScoopWhoop publishes digital content to engage Indian millennials.
This development will also establish its presence in Bengaluru, in addition to the Delhi and Mumbai. Earlier in November 2015, ScoopWhoop had raised $4 Mn, in a funding round, from Kalaari Capital.
Other startups in the space include PopXO, MissMalini, LBB, etc.
