Print Ad Aggregator MyAdCorner Gets Funding From CCube Angels

5 years ago

Singapore-based angel investor group CCube Angels has invested an undisclosed amount to buy a minority stake in Noida-based start-up MyAdCorner.com.

Run by Adception Infotech Pvt Ltd, MyAdCorner is an online platform for newspaper advertisement booking. It provides a list of advertisement options and an interface to create and book advertisements. The company was co-founded in mid-2010 by IIT Delhi alumnus Rohit Garodia and Prateek Shrivastava.

Garodia, who serves as the CEO of the firm, said, “We see a huge need for an aggregator of print ad network as this industry is highly fragmented. With more than 1,500 national and regional newspapers spread across India, there is no one-stop shop to serve them all. Additionally, a great product and relevant tools, combined with excellence in client servicing, would be the key for amassing a huge recurring client base.”

CCube currently has more than 65 members, mainly from the capital markets and financial services sector, with investment experience across various asset classes. This deal is the second one struck by the group in the past three months.

The group recently invested in Simbus Technologies, a Bangalore-based IT company. CCube provides scale-up capital between $250,000 and $1 million (Rs 1.25 crore-Rs 5 crore) to early-stage companies.

According to Prashant Kothari, one of the member angels, Adception has a differentiated and fairly unique business opportunity with a strong and dedicated management team. “Their aggregation model will bring tremendous value to small advertisers in the country – both in terms of cost and time-saving. It will also ensure a superior way of doing their media planning and execution,” he added.

 


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1 Comment
Kumar . 5 years ago

“For one, the company has started taking 40% cash and the balance in equity on new deals since cash flow is the primary concern now.”

What I have heard from people at BCCL is that investee companies used to advertise without discipline and that undeserving companies also used to get PT deals, as there was no cash-out as such and hence no risk to lose money out of pocket.

For that reason, BCCL now makes it compulsory to pay a part of the advertising in hard cash.

Print Ad Aggregator MyAdCorner Gets Funding From CCube Angels

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