Ebus ad software wins Indian market

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Auckland software startup Ebus has cracked the booming TV advertising market in India and is looking to raise US$3 million (NZ$4m) to fund its expansion in Asia.

Ebus software lets advertisers, post-production firms and broadcasters collaborate on, and distribute, TV commercials instantaneously online, rather than posting or exchanging hard copies of the ads.

Trade Me founder Sam Morgan and Trade Me backer Movac have invested $1.25 million in the firm, and Movac founder Dion Mortensen is a director.

Ebus chief executive Carmine Masiello says most of India's major broadcasters have signed up to use its software, including the local offshoots of Viacom, CNN and CNBC, which are part of Indian media conglomerate Network 18, and StarTV.

Advertisers using the software include the Indian branches of Saatchi & Saatchi and Procter & Gamble.

While not as big as the TV advertising markets in the United States and Britain, the Indian market is the only one still growing, Mr Masiello says.

A study by US advertising company Group M predicts advertising spending in India for 2009 will be US$6.6 billion, up 19 per cent from last year.

"In India there are already over 400 TV channels running. At the moment Ebus is the only company there offering this type of service."

Ebus has signed on two broadcasters in Singapore and is in discussions with potential customers in Thailand.

It is seeking about US$3m from Asian investors to help fund its growth in South-east Asia, and believes it can leverage its success in India to win business there.

"India and Southeast Asia are two markets that are very strongly related. A lot of our Indian clients are actually headquartered in Singapore."

The company is developing its software so it can manage and distribute programmes as well as advertisements. It hopes to complete this within a year.

New Zealand customers include TVNZ, TV3, Prime and Sky, as well as "leading advertising agencies", Mr Masiello says.

Ebus grew its New Zealand revenues by 40 per cent between April and October this year, compared with the same period last year.

Ebus has offices in Auckland, Mumbai, Singapore and Bangkok. Seven of its 11 staff are based in Auckland. It plans to hire about 15 staff in India and five in Southeast Asia over the next year.

- © Fairfax NZ News