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ValueFirst acquires Way2online for Rs 2 billion
 
Indiantelevision.com Team

(24 May 2012 12:20 pm)
 

MUMBAI: Digital media company, ValueFirst, has acquired Hyderabad-based IT company that runs person to person (P2P) messaging portal Way2Online Interactive.

The acquisition is made in an all-cash deal reportedly worth Rs 2 billion.

Way2Online owns and operates two websites- Way2sms.com and 160by2.com. Both Way2sms and 160by2 will continue to function as independent properties as products, although the infrastructure will be consolidated.

Post -acquisition, ValueFirst has become the only digital media company that can operate across multiple platforms – Internet, voice, sms and email.

With this acquisition, ValueFirst claims to cross 50 million profiled registered users and add 40,000 fresh registrations daily.

With this acquisition, ValueFirst will cross 50 million profiled registered users, add 40,000 fresh registrations daily and get to Rs 2.50 billion in revenues this financial year, ValueFirst said in a statement.

ValueFirst CEO Kumar Apoorv said, “The potential to build further onway2sms.com and 160by2.com is immense as ValueFirst can now leverage the huge inventories that these sites have through their large sales infra and 4,000-strong client base."
 
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