MUMBAI: Within a short span of getting funded and the joining of Praphul Misra as the Managing Director, Oi media has made its first strategic move by acquiring AdClever; a Pune based Software Company in the OOH media space with an objective to scale up operations as early as possible. Acquisition of AdClever has enriched Oi media through a team of dedicated technology professionals with a sound knowledge of the OOH media domain.
The seed round of investment in Oi media has come from a group of investors who are actively involved in the development of the new venture at the board level, particularly in the areas of business strategy and finance.
On being asked about the main reason for investing in Oi media, Quarizon chairman Aditya Gupta said, “Oi media offers a highly scalable and innovative business model with a collaborative mind-set that is rare in the industry, coupled with our strong belief that the success of any company is determined primarily by the quality of its promoters.”
Another investor, Entermarkets CEO Amjad Mustafa seconded this thought, and said, “In Oi media (our first investment in the country), first of all, we liked the OOH media space where much can be done with the infusion of technology and secondly the team with a good mix of experience and energy, which is so needed in today’s VUCA world.”
Oi media is offering a proprietary technology enabled platform backed by quantifiable and measurable metrics, to clients, agencies and suppliers. The key benefit of this technology is by way of reduced time cycles at each stage of business, due to quick access to stored information and easy to use templates covering all the stages from enquiry to billing. In an unorganized sector like the OOH media, such a platform will expand the market for the suppliers and will enable agencies and clients to evaluate inventories on a pan India level in a very short time frame.