Canada based media firm QYOU Media Inc on Tuesday announced that it has entered into a definitive share purchase agreement to acquire homegrown influencer marketing Company Chtrbox (Chatterbox Technologies Private Limited) in India for an undisclosed amount. QYOU Media will initially purchase a majority stake in Chtrbox, with a three year earn out.
As per the agreement, Chtrbox will continue to run as an independently positioned brand, while benefiting from QYOU Media’s businesses including television channel The Q which operates in India. Pranay Swarup, founder & CEO, and Julie Kriegshaber, chief operating officer, will continue in their leadership roles with Chtrbox.
The acquisition will lead to an expansion of QYOU’s influencer marketing business in India and also deliver immediate capabilities to QYOU’s India broadcast operations, through acceleration of the company’s content, advertising and e-commerce initiatives.
Curt Marvis, CEO and co-founder of QYOU Media Inc., said, “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."
Founded in 2016, Chtrbox works with over 3,00,000 influencers, from celebrities, social media stars, Gen-Z creators to micro and nano influencers.
The acquisition will create an opportunity for QYOU’s TV channel, The Q, to further offer influencer led content and ad campaigns across TV, video streaming platforms, digital and app based platforms. The company is also looking at driving social commerce related opportunities.
Pranay Swarup, CEO and founder of Chtrbox, said, “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. Our biggest stakeholders are influencers and brands and they now have the opportunity to positively influence millions more."
