India’s Content Tech Unicorn Acquires Valueleaf Group to Build Powerful Retargeting Platform
(Secunderabad, India) – August 28, 2024 – VerSe Innovation, the Indian content tech giant behind Dailyhunt, Josh, and Magzter, has announced the acquisition of digital marketing firm Valueleaf Group. This strategic move strengthens VerSe’s position in the booming Indian digital advertising space, allowing them to compete with established players like Google and InMobi.
India’s digital advertising market is experiencing explosive growth, driven by the country’s massive and increasingly online population. With over 50% internet penetration and the second-highest number of smartphone users globally, India is poised to see digital advertising surpass traditional methods by 2028, according to Redseer, a market consultancy firm.
VerSe, already a major player in content consumption with its news aggregator Dailyhunt and short-video platform Josh, lacked a robust advertising infrastructure. This acquisition changes the game. Bengaluru-based Valueleaf brings expertise in programmatic performance marketing, the preferred method for efficient ad spending.
Valueleaf boasts an impressive portfolio, serving clients across India, the US, and the UAE. Their established network includes over 50,000 websites, 1,000+ apps, and partnerships with all leading Indian smartphone brands. This extensive reach, coupled with targeted data on over 600 million Indian internet users, positions VerSe to deliver impactful ad campaigns for businesses.
VerSe co-founder Umang Bedi highlights the strategic alignment with Valueleaf’s focus on key sectors like gaming, e-commerce, and financial services, all significant contributors to the performance marketing landscape. “This acquisition allows VerSe to offer a comprehensive ad solution, attracting businesses seeking targeted ad placement across diverse platforms,” Bedi says.
Prior to being acquired by VerSe, Valueleaf enjoyed independent success, generating $36 million in revenue (₹300 crores) in FY23. Additionally, the company boasts a strong growth trajectory, on track for significant revenue increase and improved EBITDA in 2024.
This acquisition follows VerSe’s recent purchase of Magzter, a competitor to Apple News+. The combined moves showcase VerSe’s aggressive strategy to become a dominant force in India’s digital media landscape.
With VerSe’s established user base and Valueleaf’s powerful ad tech capabilities, this union promises to reshape the Indian digital advertising space. The battle for ad supremacy in India has just become even more interesting.
