Digital marketing company Ybrant Digital has decided to acquire a minority stake in Israeli firm Web 3.0. Web 3.0 operates in most growing digital fields ? the web, mobile web, and performance-based marketing and applications development. The size of the deal has not been disclosed.
Studies estimate worldwide spend on mobile marketing, advertising and messaging to exceed $3.3 billion in 2011 and reach $20.6 billion by 2015. Search ads and location-based ads will particularly drive growth. Brand spending on mobile advertising will grow from 0.5% of the total current advertising budgets to over 4% in 2015. Asia has and will continue to dominate global mobile ad spend.
The innovations in the digital media have transformed how people connect, communicate and collaborate. ?We clearly have seen that the mobile media has huge potential for growth in the years to come. Ybrant has made a strategic commitment to play a significant role in the growth and development of this arena. This collaboration with Web 3.0 is the first among the few moves we are making towards strengthening our offering.? Suresh Reddy, chairman and CEO of Ybrant Digital, said. Digital advertising has been showing tremendous growth globally, he added. Ybrant Digital offers digital marketing solutions to businesses, agencies, and online publishers worldwide. It connects advertisers with their audience across any form of digital media, using its massive local presence to deliver appropriate messages to the right audience, through the most relevant digital channels.
Web 3.0 has been operating since 2006. Ybrant Digital recently acquired Lycos, the leading brand of search based internet properties and services from Daum Communications of Korea for $36 million.