ABOUT [ edit ]
Incorporated in 2010, Brightcom Group Ltd (formerly Lycos Internet Ltd) offers digital
marketing solutions to businesses, agencies and online publishers worldwide[1]
KEY POINTS [ edit ]
Services Provided:[1]
The Company is divided into three major divisions:
a. Ad-Tech and Digital Marketing:
The services include Video Advertising, Display Ads Marketing, Performance-based
Marketing, Search Marketing, Email Marketing and Lead Generation, Afliate Marketing,
Social Marketing, Mobile Marketing, Niche Campaigns, Digital Trafc Management, Ad
Serving
b. Software services:
The Company’s software services include developing customized technology platforms
to solve specific needs of clients primarily around digital media and other related
offerings
c. Future technologies:
The company’s future technologies division consists primarily of the Company’s LIFE
product and developments in artificial intelligence, machine learning and Digital Out of
Home(DOOH) advertising
Customer Base:[2]
The Company’s primary clients are end
to end advertisers, agencies and publishers, including ad exchanges & networks like
Yahoo, Google, American Express, Unilever, Globalis, Sparcmedia, Petco, etc.
User Industries:[3]
Media & Entertainment, Telecom, Digital Media, Consumer Durables, BFSI, FMCG,
Automobile, Sports & Aviation, Leisure, Adtech, Travel & Hospitality
Product Portfolio:[4]
Through its various subsidiaries, the Company owns the following products-
Onetag
Coreg
Volomp
Pangea
Brightcom
Proxytool
B-Local
COMPASS
Brands:[5]
Oridian
Dream Ad
Medios One
Max Interactive
Volo Mp
Global Presence:[6]
The Company’s software development services are based in India, while all other
subsidiaries provide digital/ advertising services.
With its head office in Hyderabad, the Company has 25 office locations and has 484
employees and consultants worldwide.
Revenue Breakup - Q1FY24:[7]
Advertising Revenue : 94%
Software Revenue : 5%
Other Revenue : 1%
Geographical revenue contribution[8]
North America(52%), South America(20%), Europe & Middle east(17%), Asia(7%) &
Australia(4%)
Acquisitions[9]
On 6 Feb 2022, Company has signed a Letter of Intent (LOI) to acquire a US-based
digital audio company via an asset purchase transaction to tap the rapidly growing
audio advertising market.
Joint Venture:[10]
On February 2nd 2023, Brightcom Group Limited and Consumable, Inc. formed a
51/49 joint venture named Brightcom Audio US, LLC to offer Audio Advertising
Solutions
** Partner with Loop Me**[11]
Company has partnered with LoopMe. LoopMe is a technology company that uses AI
to improve brand advertising performance and outcomes
Interim Order By SEBI[12]
An Interim order was passed by SEBI on 22.08.23 related to concerns regarding
preferential allotment made by the company in FY20 & FY21. They suspected that
money raised were given as loans and advances to its subsidiaries. It was also alleged
that proper disclosures were not made in the Annual report and also disclosures
related to preferential utilisation were not made. Post this the entire management of
Brightcom has stepped down.
Change in KMP
1 Mr. Nilendu Narayan Chakraborty resined as their Independent Director w.e.f. Oct,23.
[13]
2 Dr. Radhakishore Pandrangi was appointed as the Independent Director of the
company w.e.f. Sept,23.
3 Mr. Suresh Reddy resigned as Chairman & Managing Director of the company and
Mr. Narayana Raju resigned as CFO w.e.f. Aug,23.[14]
Forensic Audit:[15]
SEBI ordered Forensic Audit of company on 16/09/2021 and Deloitte Touche
Tohmatsu India LLP were appointed as forensic auditor w.r.t the financial statements
from FY 2014-15 to FY 2019-20. The said Forensic Audit is under progress and the
final outcome of the investigation is yet to come by the time of certification
