https://adgully.me/post/1597/geniee-of-japan-buys-adpushup-operator-zelto-for-70-million

Geniee of Japan buys AdPushup operator Zelto for $70 million

The Japanese marketing technology company Geniee, a member of the SoftBank Group, paid about $70 million in cash to acquire the revenue optimization platform Zelto (previously known as AdPushup), providing investors in the startup that started out in India with a 40 times return.Zelto, a 10-year-old company that gives web publishers and content creators tools to increase revenue by utilising dozens of advertising exchanges, has twice experienced near-death experiences. The acquisition represents a remarkable turnaround for the company. The startup nearly ran out of money in 2014. Ankit Oberoi, founder and CEO of Zelto, told TechCrunch that after its flagship service struggled to gain traction, the company rushed with its product offerings.Although the deal's terms were not made public, the two companies confirmed it on Thursday. Oberoi of Zelto, which has been financially successful for some time and had less than $2.5 million in outside capital throughout its beginning phase, declined to provide the specifics of the agreement. According to the company's website, some of the clients of AdPushup, Zelto's flagship product include Elle, NDTV, CNET, PCMag, Mashable, and GSMArena