Digital ad-tech firm Fork Media has announced that it has acquired a majority stake in audio advertising company Rappio Advertising.
This deal marks Fork Media’s fourth acquisition. It has previously acquired ad-tech firm Inuxu, WiFi-based advertising network Spid Info and affiliate network ClickZoot.
With this acquisition of Rappio, Fork Media is planning to introduce audio-based advertising at scale using its large inventory of premium publishers and create new avenues for brands.
Commenting on the deal, Nirav Shah, co-founder of Rappio said:
Fork Media and Rappio have a common vision for innovating and driving the advertising experience through alternate inventories in the digital medium. With their experienced leadership, innovative products and proven expertise, we think it’s a perfect fit to take Rappio to the next level.
Samar Verma, Founder and CEO of Fork Media said,
At Fork Media, we have always believed in collaborating with the best minds in the ad-tech space and have been able to deliver many differentiated offerings to brands through our past acquisitions. We believe Rappio can cause a disruptive opportunity for brands to take their radio spends into the digital medium with high degree of measurability, targeting and transparency.
Rappio Advertising was founded by Nirav Shah, Sahil Mehta, Ishan Doshi and Anuj Shah in 2016. It helps brands play back their audio advertising formats, including ad jingles and announcements, as ringtones on end-users’ smartphones. Users can select from a variety of ‘ad ringtones’ provided by Rappio.
Fork Media was founded by Samar Verma and Upen Rai in February 2013. It was acquired by digital innovation firm Ant Farm two months later. The company creates properties with publishers where brands chip in to sponsor ad zones.