Facebook ties up with an India based startup!
Do you know what it feels like to shake hands with a giant? In the biggest announcement by Facebook in South East Asia, Facebook has tied up with Tookitaki, an Indian advertisement technology startup doing market research, branding and digital media delivery; to help Indian brands devise digital marketing and advertising strategies on its platform.
It is well known that most of Facebook’s revenues comes from advertising, the company is trying everything it can to make it easy for brands to advertise on its platform. It becomes all the more important w.r.t India, considering India has the largest number of Facebook users after the U.S., but contributes only a fraction to Facebook’s revenues.
Kiran Raghavan, Regional manager for preferred marketing developer at Facebook, said, “India is a focus area for us and the e-commerce industry is our current priority. We will look for partners who can create more value for the ecommerce industry. We will also identify more industries which can be priority for us.”
TookiTaki started out as an ad tech company that helped users figure out where to place advertisements on social media networks and other online platforms. Eventually, TookiTaki expanded its services to provide data analysis and predictions about customer behavior, marketing, and product sales for companies.
Till now, Tookitaki has raised more than $1.4 million in 5 funding round from 10 investors, including Blume Ventures, India Internet Fund, Microsoft Ventures, Jungle Ventures, among others. Its client list includes Hindustan Unilever Limited, BIBA, yatra.com, Quickr, PayTM, Star Network, etc.
Future of Digital Market in India
Digital marketing is becoming the new rage. Almost every business is seriously considering online marketing to reach out to myriad audience. Therefore it is no surprise that Facebook what the make the most of this opportunity given that Indian users on its social network are growing by the minute.
But what maybe surprising is that the social networking giant considered tie-up over acquiring this start-up! It is rumoured that Facebook is still looking to tie up with many other companies to help Indian companies advertise on its platform of Facebook and Instagram.
This certainly is a prospective opportunity of data analytics companies like Tookitaki that were unheard of till yesterday and are making news in a day after its amalgamation with the global social giant.