Glam Media, an advertising and publishing network for women, has acquired San Francisco and Mumbai-based AdaptiveAds. The acquired company serves display ads targetable by the demographic characteristics brand advertisers understand. With the acquisition Glam Media is opening an office in Mumbai and establishing an engineering presence in Pune. The deal would help Glam get better target ads. Glam has been growing very impressively for the last few years, and in February last year raised nearly $85 million in venture funding with a valuation of $500 million.
AdaptiveAds had raised $3.2 million from Draper Fisher Jurveston (DFJ) and some other investors. Glam Media is also funded by DFJ, along with some other investors like Hubert Burda Media, Accel Partner, Walden International, etc. "This acquisition will help optimise results for brand ad campaigns across Glam Media's targeted content verticals, passion groups and geographies," said Samir Arora, Founder & CEO of Glam Media.
Though the deal size is not known, VentureBeat reports that last year AdaptiveAds was looking to raise $5-10 million from venture capitalists at a pre-money valuation of between $25 and $40 million.
Three-year old startup AdaptiveAds has been founded by Sanjay Sharma and Yogesh Sharma. Yogesh is masters graduate from Delhi University and was the co-founder at media company Personiva, and was also co-founder of SiliconIndia. Sanjay is from Delhi's Mass Communications Research Centre and was also with personiva before AdaptiveAds. The company's clients include Levi's, Heineken, McDonald's, AllState, Statefarm, Hallmark, and HP.
Glam Media has also closed several deals last year with acquisitions of Germany's Codex Media, social media site StyleMob and UK's media sales company Montise Ltd.