Digital ad-tech company Fork Media has acquired a majority stake in digital audio advertising platform Rappio Advertising.
Rappio, founded in 2016, is a platform that enables brands to use their audio advertising formats, like ad jingles, promos, announcements, etc. to be played back as ringtones on end-user smartphones.Â Users can select from a variety of â€śad ringtonesâ€ť provided by Rappio and set it as their ringtone.Â Users are incentivizedÂ each time their phone rings playing out an ad tune.
Fork Media has a slew of innovative native advertising and premium advertising products that are integrated on top tier publishers in India, UAE, Indonesia and Singapore.Â With the acquisition of Rappio, the company plans to introduce audio-based advertising at scale using its large inventory of premium publishers and create new avenues for brands.Â
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 itâ€™s a perfect fit to take Rappio to the next levelâ€ť.
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 transparencyâ€ť.
Shah will head the business division within Fork Media as CEO and Founder of Rappio.Â Rappio will operate out of Fork Mediaâ€™s Mumbai headquarters and will leverage Fork Mediaâ€™s sales and technology teams.