NEW DELHI: Ad tech company Fork Media has invested in Wi-Fi ad network Spid Info Media Pvt. Ltd to leverage Spid’s technology for advertisers and publishers by offering them one of the largest audience platforms, targeting on-the-go consumers.
The partnership is in line with Fork’s vision of broadening its core offerings.
Spid currently has a bouquet of over 1,200 locations including all major airports, QSRs like McDonalds, KFC, Starbucks, and Costa Coffee, malls and other retail locations.
According to the company, his number is rapidly growing as it partners with ISPs and telecom providers to help monetise inventory. Fork Media aims to use Spid's platform to leverage the locational behavior of consumers and target them for relevant advertising.
Fork Media CEO Samar Verma said, “Having Spid as a part of the Fork Media group is a strategic move for us. We see Wi-Fi as an alternative eco-system - a parallel economy, that’s growing rapidly. With the onset of 4G, a lot of telecom players are investing in Wi-Fi infrastructure to offset the costs involved in setting up 4G. Additionally, the Wi-Fi ecosystem takes location targeting to the next level by not only delivering relevant content to the consumer in and around a certain location, but also offering destination targeting. We are steering Fork Media to be less device-centric and more consumer-centric in our ad solutions. Therefore, this is an extremely important link in the chain for us in the consumer’s journey.”
The acquisition of equity in Spid is a part of Fork Media’s larger expansion plans. It had recently made its foray into international markets with the launch of its operations in Dubai – targeting the GCC region. Through its tie-up with Spid, the company is now better equipped to provide well-timed offers that consumers are seeking. Fork Media is now poised to tap the immense opportunity that exists in the digital marketing space in India.
Spid CEO Harsh Nagpal said, “Our partnership with Fork Media is a marriage of strengths. Fork’s reach and expertise in business development will enable us to leverage this unique proposition, further enabling brands to reach out to relevant audiences. With Samar and the entire Fork team’s collective experience and expertise, we foresee Spid deriving maximum value and growing manifold.”
