Ybrant Digital Secures $48 million FundingBy Ybrant Digital, PRNE
Monday, January 17, 2011
Receives Financing From Oak and ICICI
HYDERABAD, India, January 18, 2011 - Ybrant Digital, the global digital marketing company, today
announced the closing of a $48 million round of fresh financing as
combination of debt and equity. Ybrant Digital will use this new round of
funding to grow its reach, develop new technology, expand internationally and
Oak India Investments, an affiliate of Oak Investment
Partners, participated in the new financing round; joined by current
investors, Asia Pacific Capital, as well as ICICI Bank. The financing comes
in the wake of a very successful year for Ybrant, characterized by its major
acquisition, Lycos - a leading Internet and Search portal, and the launch of
its local search platform, 'Ybrant Reach' ('YReach') in India.
The digital advertising industry has seen an unprecedented
growth over the last ten years that has highlighted the domain's strategic
value and its growing importance in the global advertising market.
"Suresh and his team have demonstrated unique ability to
identify, acquire and integrate, relevant businesses across the world. We are
confident that Ybrant will emerge as the digital marketing leader of the next
generation with emphasis on global growth and new media," said Roy Rodrigues,
advisor to Oak Investment Partners.
"Ybrant Digital exemplifies the kind of company we look to
invest in; a company that provides meaningful value to a growing customer
base and, most importantly, strong fundamentals and an innovative spirit that
drive business growth," said Sanjeev Mantri, General Manager at ICICI Bank.
"We invested in Suresh and his team with great faith in their
ability to deliver, based on significant previous entrepreneurial and
managerial success. Through acquisitions, strategic alliances, and organic
growth; the Company has exceeded our expectations and we are truly excited to
support an industry leader," said Alicia Eastman, Executive Director and
Partner at Asia Pacific Capital.
"Having a buy-in from Investors like Oak, Asia Pacific Capital
and ICICI brings validation to our business strategy, as we embark on our
next phase of growth and expansion," said Suresh Reddy, Chairman and CEO of
Ybrant Digital. "Ybrant has become known for our endeavor is to engage
audiences across all forms of digital media around the world."
For more information, please contact:
RemaSujeeth Ybrant Digital Limited Email: email@example.com Phone: +91-40-45678925 Amy Ladin Oak Investment Partners Email: firstname.lastname@example.org Phone: +1-203-226-8356 Alicia Eastman Asia Pacific Capital Email: Alicia@apcinvestors.com Phone: +852-2801-5993
RemaSujeeth, Ybrant Digital Limited, Email: rema at ybrantdigital.com , Phone: +91-40-45678925 ; Amy Ladin, Oak Investment Partners, Email: aladin at oakvc.com , Phone: +1-203-226-8356 ; Alicia Eastman, Asia Pacific Capital, Email: Alicia at apcinvestors.com , Phone: +852-2801-5993
Tags: Hyderabad, India, January 18, Ybrant Digital