In the Asia Pacific (APAC) region, this is the largest ever deal by Taboola. In September 2015, NDTV Convergence had first entered into a Rs 100 crore deal for a period of three years.
Shares of NDTV Friday locked at the upper circuit of 10% on BSE after its digital arm NDTV Convergence signed a five-year deal worth Rs 300 crore with New York-based content discovery and advertising platform Taboola. The media firm’s stocks surged 9.94% to Rs 39.25 a piece on the BSE, while the NDTV scrip was locked at Rs 39.15, up 9.97% on National Stock Exchange.
“The five-year deal ties NDTV Convergence exclusively to Taboola and involves a minimum guarantee of more than Rs 3 billion for NDTV Convergence, making it one of the largest deals not just for digital content but for the media space in its entirely,” NDTV said in a press release.
In the Asia Pacific (APAC) region, this is the largest ever deal by Taboola. Earlier in September 2015, NDTV Convergence had first entered into a Rs 100 crore deal for a period of three years. Taboola uses its presence on sites like NDTV to recommend content from across the internet to the audience and lo offer highly-personalized native advertising, the statement added.
NDTV Convergence currently owns and operates the flagship portal, www.ndtv.com and all other digital properties of the group. “Like NDTV, Taboola operates with the user al the centre of its universe which is what makes this such a natural fit,” said Suparna Singh, CEO of the NDTV Group.
Meanwhile, after opening with mild losses, the domestic stock markets turned choppy and extended losses on Friday afternoon, as a global sell-off spooked investors. Sensex is down 380 pts to 36,050.47 while the Nifty is trading below 10,850 level.