Indiantelevision.com Team

(2 July 2008 9:30 pm)

MUMBAI: IDG Ventures has invested into Ozone Media, an online advertising network as a part of its expansion plans in the online space.

Ozone provides targeted solutions for industry verticals, and control over ad placement. Further, the company is currently accumulating inventory, especially in regional language and video.

According to the agreement, Manik Arora and Ritesh Banglani from IDG Ventures will join Ozone's board of directors.

Ozone Media Founder and CEO Kiran Gopinath said, "Ozone has acquired India's largest publisher base with a focus on premium inventory, which has allowed us to grow rapidly by attracting advertisers. We are thrilled to partner with IDG Ventures to extend our leadership position, by leveraging their expertise and networks in internet and media across India. We plan to use the funding to reach out to a broader set of advertisers and expand our sales and technology teams.”

Other online investments that IDG has previously made include Blue Lithium in the USA and Allyes in China.

"Having successfully invested in ad networks globally, we are excited to partner with Ozone Media to rapidly scale the company. We are impressed with Ozone's rapid growth and market leadership position, as well as the team's deep understanding of online advertising,” said IDG Ventures India founder and managing director Manik Arora.