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Digital marketing firm Valueleaf acquired by Dailyhunt-parent VerSe

Digital marketing company Valueleaf Group has been acquired by VerSe Innovation, the parent company of Josh and the vernacular news aggregator Dailyhunt, in a cash and equity deal.

According to the company’s press release, this move is anticipated to accelerate VerSe’s growth, with an estimated $100 million in additional revenue and a 10% EBITDA margin in FY25.

As per the press release, the acquisition will result in significant synergies by combining Valueleaf’s industry-focused solutions, performance data, and extensive supply-side integrations with VerSe Innovation’s advertising tech stack and data management platform. This will enable advertisers to enjoy an enhanced Return on Ad Spend (ROAS).

“The acquisition of Valueleaf Group will position us for substantial revenue growth. With the integration of Valueleaf’s data-driven insights with our ad tech platform, we anticipate a marked increase in advertising efficiency and effectiveness, driving higher-value partnerships,” Umang Bedi and Virendra Gupta, cofounders of Verse, said in a joint statement.

In an attempt to expand into the premium content market and grow into India’s largest digital media tech conglomerate, Verse purchased Magzter, a global digital newsstand with a collection of over 8,500 premium magazines and newspapers, in April.

To date, Dailyhunt has raised over $1.5 billion in multiple rounds of funding. In April 2022, the company raised $805 million in its most recent equity round, which was led by the Canada Pension Plan Investment Board, and was valued at $5 billion.

The media reports that VerSe’s total revenue increased by 57% year over year to Rs 1,809 crore in FY23 from Rs 1,151 crore in FY22, while its losses were recorded at Rs 2,059 crore in FY23. FY24 audited numbers have not yet been filed by the company.

 

 

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