Digital ad-tech company Fork Media has acquired major stake in audio advertising startup Rappio advertising which marks its entry into a large scale audio advertising.
What the Founder of Fork Media has to say
Samar Verma, Founder and CEO of Fork Media said “Rappio can cause a disruptive opportunity for brands to take their radio spends into the digital medium with high degree of measurability, targeting and transparency”. He also added “We have always believed in collaborating with the best minds in the ad-tech space and have been able to deliver many differentiated offerings to brands through our past acquisitions”.
Rappio founded in 2016 is a platform that provides audio advertising formats to different brands – like ad jingles, promos and announcements as ringtones to be used on smartphones. Users can select the ringtones provided by Rappio and set it as their ringtone. Users are incentivised each time their phone rings playing out an ad tune.
Statement from Rappio
Co-founder of Rappio, Nirav Shah said “Fork Media and Rappio have a common vision for innovating and driving the advertising experience through alternate inventories in the digital medium”. He added “With their experienced leadership, innovative products and proven expertise, we think it’s a perfect fit to take Rappio to the next level”.