Komli Media Acquires SoftBank Backed AdMax Network
by Irfan Khan
Norwest Venture Partners backed Komli Media has acquired online advertising network AdMax Network, according to pluggd.in.
This is Komli Media's fifth acquisition. Last year, it acquired 100% stake in Los Angeles-based mobile ad network platform, ZestAdz. Last year, it also acquired Singapore-based online advertising firm, Aktiv Digital, while in 2010, it acquired Australia-based site representation company, PostClick and UK-based online advertising firm, Indoor Media.
Admax Network Pte Ltd. was founded in 2006 and is based in Singapore. The company has additional offices in Thailand, Malaysia, Singapore, Indonesia, the Philippines, Australia, and Vietnam. Admax Network Pte Ltd. operates as a subsidiary of Digital Marketing Solutions Company Limited.
Flipkart has announced the much speculated third round of funding this year, which values the seven year old marketplace at a whopping $11 Bn (c.R66,000 Cr). Along with the funding, Flipkart has also filed for changing its entity status to public.