Photo Messaging Platform Snapchat has entered into a partnership with ad technology platform Tyroo, a move focused to drive its ad monetisation in India as informed by the company on Wednesday.
Under the strategic agreement, Smile Group Company, Tyroo will manage sales and support for all Snapchat products in India. The company is also establishing a team of 40 people to build ad revenue strategy in the country and support marketers.
Geoffrey Reed, Snapchat’s Head of International Expansion, said in a statement,
This strategic partnership with Tyroo will allow us to bring Snapchat to more advertisers in India and help them see the value in connecting with our highly engaged users through the most fun and effective ad products on the market.
Meanwhile, CEO of Gurugram based company Tyroo, Siddharth Puri said that they are delighted to work with Snapchat. He is hoping that Tyroo’s strong local presence and deep market relationships will help support Snapchat’s mission in India.
Additionally, Tyroo has also appointed Akash Mathur as its Chief Revenue Officer to drive growth through partnership. A veteran in the Indian media industry, Akshay has an enormous experience having worked with top-notch brands such as Bennett, Coleman & Co. (The Times of India Group), Yahoo! Inc. and start-ups like Komli Media, SVG and People Group.
Mathur said,
Snapchat’s innovative camera and video ad products such as Lenses, Filters, and Snap Ads make it a compelling choice for marketers. The products can address both brand uplift as well as performance, which would translate into a massive return on their investments.
The online advertising business in the country is expected between $1.2 billion and $1.5 billion, out of which 95 percent is acquired by Facebook and Google.
Now with Tyroo onboard, Snapchat is focusing on a new segment aimed at consumers looking at video content, an area that Instagram already dominates in India at the moment.
Snapchat had also revealed that about 20 percent of all its users in India use its platform for their social media interactions, thus making it a sweet spot for the company especially when India is witnessing a transition of 75 percent of online advertising to mobile.
Working under the roof of Smiles Group, Tyroo is considered a leader in ad-technology products, including its proprietary platform Vid.ai. Smile also has successful collaborations with global players such as WPP, Yahoo!, Airbnb, Linkedin, Facebook, Twitter, and more through its companies.