Flytxt to raise $15 million to expand business in SE Asia and Middle East by Q2, 2012 |
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Flytxt to raise $15 million to expand business in SE Asia and Middle East by Q2, 2012
Flytxt recently launched an online technology forum. How does this platform work, and which Indian operators have you tied up with for the same? Flytxt believes in contributing to the mobile ecosystem with its thought leadership and technology expertise. It is with this idea the technology forum was launched. It works as a platform for mobile technology developers, enthusiasts and thought leaders to share and exchange ideas with Flytxt experts on emerging technologies and innovative products in the field of mobile marketing. What is the investment you have in India and other emerging markets? In the last 3 years, the major focus of Flytxt has been to expand operations in India and establish its footprint firmly. We have grown from 15 people to 160 people in India. We have product consultants deployed in 16 states in India, who support/consult operators identifying new marketing opportunities and create innovative campaigns. Having established our impact with some of the largest and most innovative operators in the region, we are also expanding in African, APAC and Middle Eastern markets. We have exciting customer deals in the pipeline which we expect to announce very soon. These will include various technology solutions for our existing and new customers in these geographies, which will enable mobile campaigns with high ROI, zero SPAM and total privacy. Customers will be able to increase loyalty, reduce churn, cross-sell and up-sell products and generate measurable incremental revenues. Flytxt will execute on this expansion with its global development center and global support center based out of India. What are your new mobile offerings being launched in India? We will soon be announcing the deployment of our third party mobile advertising solution, QREDA in India. This platform will enable mobile operators to play a key transformational role in the mobile advertising ecosystem by extending their key assets - subscriber data and reach - to advertisers with complete security and total privacy. In addition, this platform will allow advertisers to design, execute and measure mobile advertising campaigns deriving high ROI and ensuring zero SPAM. It will allow the advertiser to reach precisely targeted consumer segments based on multiple characteristics like demographics, psychographics, location, and more. Mobile operators can monetize their subscriber data and inventory better and evolve themselves into a media company, rather than just being a pipe provider. We are in talks with many brands, operators and advertising agencies in the Indian region and then we would expand later to other markets. The product will be deployed in coming months. Are you offering anything for rural areas or green technology for the mobile sector? Especially in the telecom sector if you see, majority of the subscribers are from rural areas. We are conscious of this fact and our products are designed to be used over the internet from remote locations and have a very easy-to-use interface, Plus, they all support regional languages. What are your expansion and investment plans in South East Asia, Africa and Bangladesh? The mobile phone adoption in these countries is growing at a fast pace and at the same time these markets are vastly unexplored in terms of mobile marketing. The burgeoning subscriber base with varied customer segmentation and diverse interests offer a huge scope for growth. We have started working across the African continent and the Indian region since the beginning of this year with Neon and we are currently introducing QREDA into these markets also. We would like to offer the full range of our product portfolio to these countries so that all entities of the advertising ecosystem can take advantage of our offerings including operators, brand advertisers as well as marketers. We are currently in talks with some of the leading operators in the region and we will very soon announce the names formally. We intend to continue increasing our focus and presence on Africa and Indian region as well as expand into South East Asia and Middle East. Towards this expansion we intend to raise around $15 million to expand our business in these countries by Q2/3 next year. |
Flytxt, which is very active in the mobile advertising and marketing space, recently launched a technology forum India. Talking about expansion plans in APAC, Africa and the Middle East, Vinod Vasudevan, Group CEO, Flytxt also touches on the upcoming QREDA m-advertising platform launch
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