Brightcom Group

The Brightcom Group is a digital marketing company founded in 2000 and headquartered in Hyderabad, India[1] with offices in US, Argentina, Brazil, Chile, Uruguay, Mexico, UK, France, Germany, Sweden, Ukraine, Serbia, Israel, China, India, and Australia, and with representatives or partners in Poland, and Italy. It ranked 400th in the Fortune India 500 list in 2020.[2]

Brightcom
TypePublic
BSE: 532368
NSE: BCG
IndustryDigital Marketing
FoundedHyderabad, Telangana
FounderSuresh Reddy
Headquarters
Hyderabad, Telangana
,
India
Area served
Worldwide
Key people
Suresh Reddy(Chairman & CEO), Vijay Kancharla (Chief Innovation Officer)
ServicesDigital Marketing services
RevenueIncrease ₹27.06 billion (US$340 million) (2020)
Decrease ₹4.40 billion (US$55 million) (2020)
Total assetsDecrease ₹28.75 billion (US$360 million) (2020)
Total equityDecrease ₹28.26 billion (US$350 million) (2020)
Number of employees
463 (2020)
Websitebrightcomgroup.com

History

Founded by Suresh Reddy[3] and Vijay Kancharla[4] as USAGreetings.com in September 1999, the company introduced its first eMarketing product 'Powered by USAGreetings' engine, in November 1999. In June 2000, the company metamorphosed into Ybrant Technologies Inc. In September 2007, the company filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). However, the company decided to put the IPO plans on hold.

In May 2008, Ybrant Technologies integrated all its acquired companies (Oridian,[5] AdDynamix, MediosOne, and VoloMP) and formally changed its name to 'Ybrant Digital'. The reorganization of the company with the name change resulted in the formation of operational divisions Technology Platforms led by Vijay Kancharl[4] and Strategic Initiatives led by Bradley N Cohen.[6]

In December 2009, Ybrant added location-based advertising (LBA) to its services, entering into a partnership with Livevana Innovations & Lepton Software.

In February 2010, Ybrant Digital launched its local search platform in India 'Ybrant Reach' (YReach), starting in Hyderabad.

In August 2010, Ybrant Digital bought the search-based internet company Lycos. At the time, Lycos was a top 25 Internet destination worldwide, reaching nearly 60 million unique visitors globally.[7][8] The Lycos Network of sites and services includes Lycos.com, Tripod.com, Angelfire, Gamesville, and HotBot.[9]

In May 2012, Ybrant Digital announced that it had agreed to purchase PriceGrabber, LowerMyBills, and ClassesUSA.com from Experian. PriceGrabber provides price comparison shopping services for Yahoo! and MSN shopping. LowerMyBills.com offers savings through relationships with over 500 service providers, while ClassesUSA.com is an online higher-education portal. Steve Krenzer would move from Experian to Ybrant to continue to lead these three businesses. Ybrant expected the purchase to nearly double its revenues.[10]

In September 2012, the purchase of PriceGrabber, LowerMyBills, and ClassesUSA.com from Experian fell through.[11]

In March 2016, Ybrant Media Acquisition, Inc., a unit of Ybrant Digital, filed for chapter 11 bankruptcy protection in relation to a $36.6 million loss connected with the acquisition of the Lycos search engine.[12] In 2018, Ybrant lost ownership of Lycos Inc.[13]

In May 2018, Ybrant changed their name to Brightcom.[14]

Acquisitions
NameDateCountry Operated inServices Offered
Lgs Global2011 AugustIndia, USA, EuropeIT services and outsourcing
Max Interactive2009 AugustAustraliaDisplay, SEM
Dream ad2009 MayArgentinaDisplay, SEM
Oridian2008 JanuaryIsrael, EuropeDisplay
AdDynamix2007 FebruaryUSADisplay
VoloMP2007 AprilSerbia, USAEmail marketing/software
MediosOne2006 NovemberUSASEM, display

References
  1. "Suresh Reddy, Chairman & Managing Director, Ybrant Digital".
  2. "Brightcom Group - Fortune 500 List 2020 - Fortune India". www.fortuneindia.com. Retrieved 12 January 2021.
  3. "Suresh Reddy". Ybrantdigital.com. Retrieved 16 March 2012.
  4. "Vijay Kancharla". Ybrantdigital.com. Retrieved 16 March 2012.
  5. Matomy Media
  6. "Bradley N Cohen". Ybrantdigital.com. Retrieved 16 March 2012.
  7. "Ybrant Buys Lycos for $36 Million". prnewswire.com (Press release). Retrieved 14 February 2015.
  8. "Lycos is Still Around – Sold by Daum to Ybrant in $36 Million Deal". techcrunch.com. 16 August 2010. Retrieved 11 June 2022.
  9. "News". www.businesswire.com. Retrieved 29 September 2023.
  10. "Ybrant to Buy US$283 Million (INR 1500 Crores) Business from Experian" (Press release). 10 May 2012. Retrieved 10 May 2012.
  11. "Experian's PriceGrabber sale falls through". Financial Times. 26 September 2012. Retrieved 26 September 2012.
  12. Brickley, Peg (15 March 2016). "Ybrant Unit Files for Bankruptcy over Price on Lycos Deal". Wall Street Journal.
  13. "Daum Global Holdings Corp. v. Ybrant Digital Limited et al". pacermonitor.com. 8 May 2018.
  14. "Lycos rechristened Brightcom". @businessline. 11 May 2018. Retrieved 7 February 2019.

Category:Digital marketing companies in Delhi

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