Dailyhunt parent acquires marketing agency ValueLeaf, eyes $100M revenue
What's the story
VerSe Innovation, the tech firm behind popular platforms Dailyhunt and Josh, has acquired a majority stake in ValueLeaf Group.
This strategic move is aimed at bolstering its advertising capabilities, and accelerating its progress toward a $100 million revenue target.
The acquisition also marks a significant step toward an initial public offering (IPO) for VerSe Innovation.
Strategic integration
ValueLeaf's data-driven solutions to enhance VerSe's ad tech stack
Umang Bedi, Co-Founder of VerSe Innovation, highlighted the transformative potential of this acquisition in an interview with CNBC-TV18.
He emphasized that ValueLeaf's comprehensive performance data for more than 90% of ads served to India's internet audience, will significantly enhance their ad tech stack.
This integration is tipped to deliver substantial programmatic performance outcomes, and return on investment (RoI) for their advertisers.
Business alignment
Acquisition aligns with VerSe's broader business strategy
The acquisition of ValueLeaf aligns with VerSe Innovation's broader business strategy, which encompasses news, ad tech, as well as influencer marketing.
Despite a challenging ad market, the firm's flagship news platforms Dailyhunt and Dailyhunt Premium have demonstrated strong double-digit growth.
Also, their influencer marketplace VerSe Colab is performing well while Josh is tipped to reach break-even by year-end.
Revenue projection
VerSe Innovation on track to cross $100 million revenue mark
Bedi also revealed that VerSe Innovation's advertising tech stack, along with ValueLeaf's performance data and its extensive network of over 50,000 supply-side partners, will be instrumental in clocking their forward-looking revenue guidance.
He stated, "We exited June 2024 at a ₹732 crore ARR (annual recurring revenue), which gives us immense confidence to cross the $100 million revenue mark and achieve a 10% profit margin."