Ventures in Digital Media, which calls itself a venture ‘catalyst’, is ratcheting up its profile with a full-fledged acquisition, the first since its founding.
The specialised consulting and venture firm bought Amplify, a digital media integrator that is clearly joined at the hip with ViDM – an analogy that works in more ways than one.
Amplify gives digital media a jumpstart by aggregating best-of-breed technologies, and shares with ViDM a focus on the fastest growing segment in advertising. And, then, Amplify’s CEO Willie Pang was a co-founder, with Josh Edis, of ViDM last year, and now will head the new united venture.
“ViDM’s funding and acquisition of Amplify is the culmination of a long-term strategy to offer rapidly emerging digital advertising, marketing and content optimisation technologies to clients across Asia Pacific,” said Pang, who previously was managing director of Yahoo! Search Marketing for Australia and New Zealand.
“We’re expanding our geographical footprint and offering a model and capabilities that are unique in the region,” he added, alluding to growth prospects in China. “It’s a milestone in our company growth story.”
ViDM, which operates out of Sydney and Melbourne, now plans to introduce a wide range of innovative digital advertising, marketing and content optimisation technologies to Australia, laying the foundation for potential expansion into high-growth markets in Asia. The company will now consist of two units – Amplify and Emerge Digital, an advertising platform technology business.
Edis will serve as chief commercial officer and holds a board seat. Amplify Chief Operating Officer Tom Petryshen, a major shareholder, has been named vice president (International) and will be based in Vancouver, Canada. He also holds a board seat.
Besides Amplify, ViDM holds minority stakes in two other startups – YachtandBoat.com.au and AirOffice. It financed the Amplify acquisition with a fresh round of funding.
Amplify, founded in 2003, is a big player in the SEM/SEO and web development markets in Australia with clients such as Telstra, Realestate.com.au, Webjet and Europcar, among others.