Released on: July 2, 2008, 3:46 am

Press Release Author: PR HUB

Industry: Media

Press Release Summary: Mumbai, July 02, 2008: IDG Ventures India, a $150 Million
early-stage technology venture capital fund, announced today its Series A investment
in Ozone Media, India's leading online advertising network. As part of the
investment, Manik Arora and Ritesh Banglani from IDG Ventures India will join the
company's Board of Directors.

Press Release Body: As an ad network, Ozone Media provides advertisers who want to
leverage the internet, access to websites in its database. It utilizes advanced
behavioural and contextual targeting techniques to identify the most relevant
websites for advertisers and further allows those advertisers to track performance
of their campaigns.
Ozone Media differentiates itself in this space by providing better targeted
solutions for industry verticals, and providing complete transparency and control
over ad placement. Further, the company has accumulated a large volume of premium
inventory, especially in regional language and video.
Commenting on the investment, Kiran Gopinath, Founder and CEO of Ozone Media, and a
veteran in the online advertising space, said, "Ozone Media has acquired India's
largest publisher base with a focus on premium inventory, which has allowed us to
grow rapidly by attracting advertisers. We are thrilled to partner with IDG Ventures
to extend our leadership position, by leveraging their expertise and networks in
internet and media across India. We plan to use the funding to reach out to a
broader set of advertisers and expand our sales and technology teams.
IDG is considered a domain expert in online advertising, having previously invested
in market leaders such as Blue Lithium in the USA (later acquired by Yahoo for
$300m) and Allyes in China (acquired by Focus Media for $300m).
Manik Arora, Founder and Managing Director of IDG Ventures India, said, "Having
successfully invested in ad networks globally, we are excited to partner with Ozone
Media to rapidly scale the company. We are impressed with Ozone's rapid growth and
market leadership position, as well as the team's deep understanding of online
advertising.\"
The Indian market for online advertising is estimated to be Rs. 450 crores
currently, and is expected to grow to INR 2,000 crores over the next 3 years.
Globally, ad networks account for more than 40% of display advertising spend on the
internet, and help monetize the long tail of internet sites.
About IDG Ventures:
IDG Ventures is a global network of venture capital funds with over $2 billion under
management and a portfolio of over 220 companies built over the last 15 years. The
IDG Ventures network is comprised of five independent partnerships managing funds in
North America and Asia. Each partnership makes investments on behalf of its limited
partners, including International Data Group (IDG), the world\'s largest IT media
company.
By combining the IDG platform - an unparalleled combination of global publishing,
market research (IDC), and conferences and exhibition resources - with years of
hands-on experience in early-stage Company building, each IDG Ventures fund helps
companies understand their markets better and penetrate them faster than their
competition.
IDG Ventures India manages a US$150 Million venture capital fund focused on helping
entrepreneurs grow innovative companies on a global basis. IDGV India believes the
market for technology products and services in India, the proven value of India as
an offshore resource base and the entrepreneurial spirit and talent of its people,
create an extremely bright future for venture capital investing in the country.
IDG Ventures India's portfolio consists of Manthan Systems, Kreeda Games, ConnectM,
iViZ, 3D Solid Compression, Perfint and Aujas Networks. For further details visit
www.idgvcindia.com
About Ozone Media:
Founded by online ad veteran Kiran Gopinath in 2006, Ozone Media is India\'s leading
Internet advertising network with offices in Mumbai and Bangalore. The company has
some of the largest online publishers in India as partners. Using Ozone Media\'s
reach, advertisers can reach out to Indian as well as global audiences (including
NRIs). With state of the art ad serving technology, Ozone Media strives to maximise
ROIs on ad campaigns for advertisers and revenues for publishers. For further
details visit www.ozonemedia.co.in
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