EatAds.com, a Singapore based online marketplace for OOH advertising inventory, has recently announced that it has launched its operations officially in India along with the Indian local advertiser, Times OOH. The online portal lists space for buying and selling Outdoor & Out-of-Home advertising.
EatAds already has over 100 media owners listed in Singapore, Hong Kong, Philippines, Bangladesh, Thailand, and now India as well. The platform has over 6,000 outdoor ad listings in more than 16 countries.
EatAds co-founder, Nigel Hembrow said that being such a large and fragmented country, they had always suspected a need for EatAds in India, and over past months all the India buyers and sellers they have met here have validated this need. He also pointed out that there’s a 60 per cent occupancy in outdoor advertising in India, so it’s clearly a broken system.
“Around Asia, many people don’t know how to buy billboards, who to contact, and what are the prices – there are too many barriers. And in addition, we are making it much easier for traditional buying agencies to serve their clients.”, said Dhruv Sahgal, Co-founder, Business Operations.
EatAds was founded in 2011 by John Fearon, who reinforced it in 2012 with Dhruv Sahgal and Nigel Hembrow. The website is completely free and does not charge any commission from media owners. Instead, it plans to earn through preferred listings, website ads, and enterprise tools. The company raised seed funding in late 2012 from Crystal Horse Investments for an undisclosed amount. Since then, the company is planning to raise the next round of funding of SG$600,000 (US$493,000)
Talking about the chances of the model to click in India, the Indian market for OOH deals still works on relationships basis and offline pitching patterns. The resources and the information regarding the OOH sites provided by EatAds will surely be useful but how far it will be able to convince the highflying ‘media buyers’ and budget locators will have to be seen.