DealTracker - Ozone Media Raises $4 Million
In its first round of funding, Ozone Media has reportedly raised $4 Million from IDG Ventures - a $150 million early stage technology venture capital fund.
Ozone Media intends to use the fund in increasing the number of its partner websites and strengthening its marketing strategy, according to Business Standard.
Ozone has over 100 network websites as its partners in a revenue sharing model. The company also claims more than 40 clients including companies across diverse sectors such as HSBC, SBI, Yahoo!, Lenovo, Cleartrip and Citibank, and claims a growth of 150% in the previous fiscal.
While estimates for the Indian online advertising market range from Rs 250 crore to Rs. 400 crore, 
Lintas reckons that the Internet advertising in India would grow to Rs 2500 crore by 2011.
In other ad-network related news, Goosefish Media kicked off its foray into vertical ad networks with GoSindbad - a vertical ad network for the online travel companies and airlines websites. The company plans to launch another vertical ad network DivaNation.in focused on women’s portals like Trendy.in and Indiwo.com.
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