According to sources, Delhi based LiveMedia, has bought a controlling stake in Tag Media, an in-store television network. LiveMedia has bought a sizeable stake in Tag Media." Industry sources peg the deal value at $4 million.
The website of Tag Media lists Rajan Mehta, Founder of LiveMedia and former VP of Nortel Networks in India, as one of its Directors.
Both LiveMedia and Tag Media are funded companies. These companies are in the business of placing LCD screens in captive environments such as restaurants, corporate offices, BPOs, gyms, salons and hospitals where people of identifiable demographics congregate. The screens show entertainment and information oriented content, engaging and entertaining the audience and providing an effective platform for advertisers to reach out to their target customers.
In the recent past, the OOH space has seen a lot of action from VCs. vJive had raised $4.5 million backing from Matrix Partners India, while the Mumbai-based OOH Media is backed by private equity fund 3i. Sequoia Capital India has also invested about $2 million in an in-store media company Digital Signage Networks (DSN). R Ramaraj, a senior advisor of Sequoia Capital India, is on the board of DSN.
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