Media technology house Tritech Media has announced a 20% holding investment in mobility startup GoMetro.
The investment will allow GoMetro to offer advertisers precise, location based advertising based on the commuter’s route, the time they travel and where they live and work. “Being part of Tritech Media gives us access to leading proprietary technology and market-share to deliver transport transaction solutions with corporate precise communications to a growing market,” said GoMetro chief executive officer (CEO), Justin Coetzee.
Tritech Media CEO, William Kirsh, who now sits on the GoMetro board, expressed his delight in the investment. “This is such a great strategic acquisition for our group. Our aim is to cover where the consumers are in their daily life, and then to position precise and relevant brand advertising and communications based on their location,” Kirsh said.
Tritech Media is already firmly established in areas surrounding shopping malls and the investment in GoMetro will allow it to expand its advertising offering and reach to more consumers through the GoMetro app.
This location-based advertising has already proven itself to brands such as FNB which found advertising campaigns to be as much as four-times more effective when using GoMetro advertising.
The newest investors also have high aspirations for the startup. “GoMetro’s technology is truly world-class and, with this pedigree, the objective is to expand into other emerging markets, with Nairobi currently being mapped,” Kirsh said.
[Image – CC BY 2.0 Leonid Mamchenkov]