ValueFirst buys mGinger,eyes Rs 250 cr revenue

“The strategic acquisition will give ValueFirst another four million opted-in registered users in addition to the 50 million opted-in subscribers which ValueFirst already has across various other assets,” the company said in a statement.

It did not,however,disclose the value of the deal.

The acquisition will also give ValueFirst access to mGinger’s strong brand name and reputation with agencies,it added.

“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,” ValueFirst MD Vish Bajaj said.

ValueFirst revenue is currently about Rs 120 crore and with a growth rate of about 100 per cent,the projection for coming year is Rs 250 crore,he added.

Gurgaon-headquartered ValueFirst,which has over 500 employees,has received USD 21 million in PE funding from NEA and Headland ventures.

Since its inception in 2007,mGinger has built its brand in mobile marketing. It also offers monetary incentives for every ad served on their mobile and network with up to two levels of referrals.

It provides targeted marketing services platform to over 2,000 advertisers and has received funding from DFJ and IUVP in 2007. It has over 40 employees.