Liquidity Events
Japan's Geniee acquires revenue optimization platform Zelto for $70-M
Japanese marketing tech firm Geniee, an existing stakeholder and part of the SoftBank Group, has paid about USD 70 million in cash to acquire Delhi-headquartered revenue optimization platform Zelto (formerly AdPushup) delivering 40 times return to a number of angel investors in the startup. Founded in 2013 by Ankit Oberoi and Atul Agarwal, AdPushup (currently Zelto) enables digital publishers to integrate with ad networks, such as Google AdSense, to optimise ad placements and visibility, thereby increasing ad revenue without compromising on the user experience. The firm went from USD 1 million ARR in 2017 to USD 10 million by 2019 and then to USD 59 million in 2021.
From the Venture Intelligence PE-VC Deal Database: Between Oct-2014 and Aug-2016, AdPushup had raised early stage funding from Geniee and Purvi Capital as well as angel investors including Wingify founder Paras Chopra, SlideShare co-founder Amit Ranjan, LinkedIn director of technology Jonathan Boutelle, Yahoo! principal data engineer and architect Sachin Arora, WebEngage founder Avlesh Singh and CouponDunia founder Sameer Parwan.
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