QYOU Media to Acquire Indian Influencer Marketing Co. Chtrbox
by EVENTFAQS Bureau Industry Watch | June 2, 2021 | News
Chtrbox Gaurav Kapur Roshan Abbas QYOU Media
Influencer-created content company QYOU Media, which operates the TV channel ‘The Q’ in India, has announced that it will acquire 100pc shares of Chatterbox Technologies, which runs the Indian influencer marketing brand Chtrbox.
Chtrbox was founded in 2016 as a data-driven influencer marketing player, to enable brands to tell stories at scale through a diverse pool of over 300,000 influencers.
The company has been backed by experienced entrepreneurs and media personalities. These include events veteran Roshan Abbas and sports host Gaurav Kapur, who according to VCCircle (2018) were among early angels who funded Chtrbox to the tune of Rs.1 crore.
Toronto-listed QYOU Media operates in India and the United States producing and distributing content created by social media stars and digital content creators. It began building its influencer capabilities in India last year.
The group’s ‘The Q India’ is an advertiser and influencer marketing-supported Hindi language content brand, channel and VOD provider. The TV channel had an average of 45 Gross Rating Points (GRPs from BARC India) over the last seven weeks of measurement.
Synergies the acquisition is expected to unlock are many, leveraging the influencer and advertiser base of both entities and The Q’s reach across platforms. Besides which, there is a stated intent to drive development of influencer-driven social commerce opportunities.
Curt Marvis, CEO and Co-Founder, 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 has shown the power of content created by social video creators and influencers. When we combine this with the knowledge, savvy and digital acumen of the Chtrbox team and their unparalleled knowledge of the world of influencer marketing, it is truly a match made in heaven. As an added bonus we will integrate various aspects of the Chtrbox business with our fast-growing US Influencer Marketing group and leverage the best of all of these capabilities."
Pranay Swarup, CEO and Founder, 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. Our two biggest stakeholders, influencers and brands, have much to gain from our shared offerings. For influencers, they now have the opportunity to positively influence millions more, and for brands, they can now have a 360° communications/commerce strategy to reach and engage their audience. Last but not the least, we are super excited to work with the experienced teams of QYOU."
Chtrbox has been backed by experienced entrepreneurs and media personalities including events veteran Roshan Abbas and sports host Gaurav Kapur.