Hyderabad-based GenY Medium, a start-up engaged in business of managing perceptions of brands in the online space, has found a suitor in Srinath Devireddy, an angel investor and entrepreneur in the technology and IT industry.
Co-founded 18 months ago by an IIT Bombay alumni Ravi Jain and an Internet entrepreneur Richa Sethia, GenY offers online branding and marketing services to many clients, including Indiatimes Shopping, Gitanjali Shop, NIIT, Max Bupa and Cigna TTK.
Devireddy has picked up a minority stake in the company and has joined its board. He will now mentor the team, especially the next line of the management, and help in developing the business model for overseas clients, according to a GenY press release here on Thursday.
Also Read
Devireddy runs Adroitnet Inc, a technology solutions company focusing on healthcare with operations in the US and India. He was stated to have made angel investments in companies focusing on social media, big data and healthcare IT, a majority of which have strong synergies with what GenY plans to focus on.
"GenY Medium's team and their track record resonates with what I believe is the perfect team to do social media marketing. Social media will overtake traditional media in the near future and the team with the right experience and know-how will win is my firm belief," Devireddy said.
GenY CEO, Yashwant Kumar, stated the angel investment was a testimony to the company's abilities to draw upon appropriate engagement strategies.