Valuefirst acquires mGinger in an all cash deal
mGinger, the service that enabled users to make money by opting to receive mobile ads has been acquired by ValueFirst. The company had raised $2mn in funding from NEA IUV in 2007 and was one of the first few companies in India to target permission marketing space.
ValueFirst recently acquired Way2SMS and even mGinger deal is an all cash deal, giving Valuefirst access to 4 million opt-in subscribers.
Forced by investors? Could be, as ValueFirst and mGinger have a common investor, i.e. NEA.
mGinger showed impressive growth in the initial years (I recall a discussion with one of their investors on quality of database the company had – i.e. mostly students/housewives etc. which has a strong appeal to advertisers), but not sure if the company ever made it to the big boys club.
“ValueFirst has big plans for the business where we want to extend their permission based approach to market beyond just SMS – to various platforms – like internet, voice and email. In the recent months, mGinger had pivoted to promoting deals. We are evaluating what to do with the deals part of the business and will currently focus on scaling their media business.” [Vish Bajaj MD, ValueFirst]
Speaking to Pluggd.in, ValueFirst mentions that technical integration/transition will be done in the next 3-5 months and there are no plans to relocate mGinger team to Gurgaon.
[With inputs from Anannya Debnath.]http://www.nextbigwhat.com/valuefirst-acquires-mginger-in-an-all-cash-deal-297/http://www.nextbigwhat.com/wp-content/uploads/2012/06/mginger_thumb.pnghttp://www.nextbigwhat.com/wp-content/uploads/2012/06/mginger_thumb.pngIndian StartupsIndianStartups