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Yahoo buys stakes in online advertising agency | Indiainteracts.com

initiated by saateesh on July 20, 2007 (http://indiainteracts.com/gossip/2007/07/19/1860/Yahoo-buys-stakes-in-online-advertising-agency/)

Leading internet company Yahoo has bought a stake of over 35 percent in Gurgaon based online advertising agency Tyroo Media Pvt. Ltd, a top official said here Wednesday. "Through this investment, Yahoo will have a significant presence in the online advertising business here," George Zacharias, managing director of Yahoo India, said at a press conference here.

Zacharias, however, declined to reveal the exact number of shares they have acquired or the amount of investment they have made but only said "our investment in Tyroo is somewhere between 35-50 percent."

Yahoo's decision to invest comes a day after their global profits dropped by 2.3 percent at the end of the second quarter, which also saw chief executive Terry Samuel being replaced by founder Jerry Yang.

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