Mumbai: QYOU Media Inc (TSXV:QYOU; OTCQB: QYOUF), one of the fastest growing media brands out of the United States and Canada, announced that it has entered into a definitive share purchase agreement to acquire leading Influencer Marketing company Chtrbox (Chatterbox Technologies Private Limited) in India. This acquisition demonstrates the company’s continued focus and growth in one of the world’s most dynamic emerging markets, and in the exciting creator economy and content domain.
Chtrbox will continue to run as an independently positioned brand, while benefiting from QYOU Media’s complementary businesses includingThe Q, India’s fastest-growing TV channel, and their award-winning Influencer Marketing Group in the USA. Pranay Swarup, Founder & CEO, and Julie Kriegshaber, COO, will continue in their leadership roles with Chtrbox.
QYOU Media has been built since inception with ‘influencers’ at its core, with offerings that rely on the creative voices of influencers and propels them even beyond social. QYOU’s India TV Channel, The Q, which is primarily creator led, records nearly 100 million viewer impressions weekly and gives advertisers holistic avenues to reach an India that’s young in their spirits and choices. The acquisition will lead to a substantial expansion of QYOU’s influencer marketing business in India and also deliver immediate and accretive capabilities to QYOU’s India broadcast operations, through acceleration of the company’s content, advertising and e-commerce initiatives. Pursuant to the definitive share purchase agreement, QYOU Media will initially purchase a majority stake in Chtrbox, with a three year earn out.
Primary benefits established via the acquisition for both companies, their clients and stakeholders include:
- The ability for QYOU’s TV channel, The Q, to further offer 360 degree influencer led content and ad campaigns across TV, OTT, digital and app based platforms that further tap into the deep experience and knowledge of the Chtrbox team
- Integration of Chtrbox and QYOU’s USA influencer marketing business’s best practices across technology, data-analytics, creative brand strategy, and content production that will advance capabilities for both markets
- Complementary relationships with agencies and brands that support a 1+1 =3 opportunity for the combined businesses to drive additional revenue in the truly integrated campaigns it can offer
- Deeper access for The Q to hundreds of thousands of influencers for programming and content, including over 30 top and emerging influencers exclusively represented by Chtrbox
- The opportunity to drive more rapid development of social commerce business opportunities that are influencer driven at their core
Curt Marvis, CEO and Co-Founder of QYOU Media Inc., commented, “This is an incredibly exciting day for our company. In our first conversation with the founders of Chtrbox, it was immediately apparent that we shared common goals about where and how a new media company needs to operate. They have built an amazing company in India that is destined for continued growth and the collective synergies between our businesses could not be better aligned. Our channel in India, The Q, with its massive recent ratings growth shows the power of the right creator led content. When we combine this with Chtrbox’s digital acumen and unparalleled knowledge of the world of influencer marketing, it is truly a match made in heaven. As an added bonus is the ability to integrate various aspects of the Chtrbox business and our talented US Influencer Marketing teams and leverage the best of all of these capabilities.”
Pranay Swarup, CEO and Founder of Chtrbox, added, “We instantly clicked with QYOU’s leadership over our shared vision that creators are, and will continue to be, the future of content, marketing, and commerce. With QYOU, we gain access to massive distribution reaching millions of households, while we continue to power awesome creator-led content across digital platforms and apps. Ourbiggest stakeholders are influencers and brands and they now have the opportunity to positively influence millions more.”
Krishna Menon, Chief Operating Officer, The Q India, added, “At The Q India, partnering with some of the best creators and talent has been a key ingredient to our success. Well aligned with our vision, Chtrbox will also help strengthen our presence in the rapidly rising digital streaming space. Together, we are perfectly positioned to consolidate and advance influencer marketing, content development, distribution and engagement to the next level in India. We welcome Chtrbox to The Q family.”