Marking its entry in into the space of large-scale audio-based advertising, Fork Media has acquired a majority stake in digital audio advertising startup Rappio Advertising.
Rappio offers advertisers and brands a targeted advertising platform to reach mobile consumers through audio advertisements. It replaces the ringtone of a mobile phone by an advertisement jingle and the users earn money on the go for every incoming call. Users can select from a variety of “ad ringtones” provided by Rappio and set it as their ringtone. According to the startup, users are incentivised each time their phone rings playing out an ad tune.
“Fork Media and Rappio have a common vision for innovating and driving the advertising experience through alternate inventories in the digital medium,” says co-founder of Rappio, Nirav Shah. “With their experienced leadership, innovative products and proven expertise, we think it’s a perfect fit to take Rappio to the next level,” he adds.