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CTM Group partners Mango Cabs for ad space

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MUMBAI: Creative Thinks Media (CTM) Group has entered into an agreement with Round-O-Clock Services for the managing the advertising space in the Mango Cabs.

With the deal in place, CTM Group will be responsible to sell the advertising space inside and outside of the cabs.

CTM Group MD Ritesh Malik said, "The objective is to create different media vehicles owned by CTM which would help in creating more revenue streams thereby working towards making ourselves a leading media house from an advertising agency that we are currently."

 

Mango Cabs business model runs on the lines of London Radio Taxi, under which driver own the cabs and are attached with company for business activities. At present, the fleet size is of 500+ cabs and the company is planning to double the number with in next six months. It is also planning to launch in Bangalore, Agra and Kanpur.

CTM is also eyeing to go public and already is in talks with private equity firms to raise funds. "The vision is to work towards an IPO in the coming years and we are also talking with few venture capital firms and investment firms which would help us in our growth path by infusing the necessary funding requirements. We are a zero debt company with our own asset base which has made us worthy of the growth that we are looking for ourselves," Malik added.

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