Pranay Swarup, CEO and Founder of Chtrbox
US and Canada-based QYOU Media Inc has entered into an agreement to acquire influencer marketing company Chtrbox in India.
Chtrbox will continue to run as an independently positioned brand while utilizing QYOU Media’s complementary businesses including The Q TV channel. Pranay Swarup, Founder & CEO, and Julie Kriegshaber, COO, will continue in their leadership roles with Chtrbox.
Founded in 2016, Chtrbox offers its clients end-to-end influencer content solutions, including a pool of over 300,000 influencers, from celebrities, social media stars, Gen-Z creators to micro and nano influencers.
“This is an incredibly exciting day for our company. In our first conversation with the founders of Chtrbox, it was immediately apparent that we shared common goals about where and how a new media company needs to operate. They have built an amazing company in India that is destined for continued growth and the collective synergies between our businesses could not be better aligned,” said Curt Marvis, CEO and Co-Founder of QYOU Media Inc.
“Our channel in India, The Q, with its massive recent ratings growth shows the power of the right creator-led content. When we combine this with Chtrbox’s digital acumen and unparalleled knowledge of the world of influencer marketing, it is truly a match made in heaven. As an added bonus is the ability to integrate various aspects of the Chtrbox business and our talented US Influencer Marketing teams and leverage the best of all of these capabilities.”
Through the acquisition, QYOU hopes to see an expansion of its influencer marketing business in India. The group will initially purchase a majority stake in Chtrbox, with a three-year earn-out.
“We instantly clicked with QYOU’s leadership over our shared vision that creators are, and will continue to be, the future of content, marketing, and commerce,” added Pranay Swarup, CEO and Founder of Chtrbox.
“With QYOU, we gain access to massive distribution reaching millions of households, while we continue to power awesome creator-led content across digital platforms and apps. Our biggest stakeholders are influencers and brands and they now have the opportunity to positively influence millions more.”
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