Aarki, which offers a platform for creating and delivering mobile ads, just announced that it has acquired another mobile ad startup called Mobspire.
The financial terms of the deal aren’t being disclosed. Aarki raised a Series A (its size was also undisclosed) led by Walden Venture Capital last year, while Mobspire was entirely self-funded.
It also looks like Mobspire’s technology has already been integrated into Aarki’s offerings — when you visit the Aarki website, the front page declares, “All our rich media ads are built upon the cutting edge Mobspire rich media platform.” In the acquisition announcement, CEO Sid Bhatt (who previously worked in business development at Mint.com) said that Aarki has already run “hundreds” of ad units built on the Mobspire platform, with users spending an average of 64 seconds engaging with the ads.
Mobspire founder Nitish Aitharaju has joined Aarki as the head of brand advertising. He told me that the rest of the Mobspire team “decided to continue onto other adventures.”
Two-year-old Aarki said that its workforce has quadrupled in the past year, and that it has been profitable “for quite some time.”