Flytxt zeroes in on mobile ads business in Africa |
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Flytxt zeroes in on mobile ads business in Africa Trivandrum-headquartered Flytxt, a mobile marketing and advertising firm, is in the process of signing up African operators as the 150-people firm consolidates its business in the continent, a top official said. Flytxt, which broke ground with projects such as Orange Wednesday and Cadbury Txt 'n' Win, focuses on providing mobile marketing and advertising technologies to the operators to unlock the value of subscriber insights and multi-channel inventory. Currently, it has two product lines in form of Neon (a third generation mobile marketing platform) and QREDA (an end to end mobile advertising platform). Flytxt's customers include Virgin Mobile, Aircel, Reliance Communications, Naspers and InnoPath. The Indian market for mobile marketing and advertising is around Rs 150 crore per year but it can go up to Rs 5,000-6,000 crore in a quick time as business realise the unique attributes of mobile -- being immediate, personal, trackable and giving wider reach, according to Flytxt group CEO, Vinod Vasudevan, who has previously worked in Reliance Communications and Japan's NTT. "South Africa, where we expanded way back in 2009, is a big market. By one study done on missed call alerts, there is $12 million market to be tapped. Add all the countries, the opportunity is big in Africa. As we build upon our India and Africa business, we will like to add geographies like Indonesia, Malaysia and Vietnam in South East Asia. Until this year, focussed a majority of our energies on India. Now, its time to penetrate Africa and then, South East Asia," said Vasudevan, whose firm is looking to raise $15 million by the third quarter of 2012. Flytxt is currently backed by entities such as Clifton Holding, IVC venture Capital, RM Shareholding Management (investment vehicle for Dr Roland Metzger) and Schnell Consult (an investment vehicle established by John Tu, co-founder of Kingston Technology Company). |
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