RedMas announced the acquisition of Kontextua, an online advertising company with an expansive network in Latin America and Spain that will strengthen the Group’s digital presence in the region. In addition, RedMas will invest $2 million in Kontextua to develop new digital advertising platforms and extend the online network’s reach in Chile, Mexico, Brazil, Colombia, and in the U.S. Hispanic market.
“Latin America’s $2.5 billion digital advertising market is growing at an accelerated rate of 15 to 20 percent annually. With Internet penetration at only 35% in the region, this market holds vast potential for RedMas,” says Cisneros Group’s Chief Digital Officer Victor Kong. “The acquisition will not only contribute revenue to the Cisneros Group’s other sites, such as www.venevision.com, www.noticierovenevision.com, and www.missvenezuela.com, but it will also complement its business strategy of focusing on digital advertising, e-commerce, and social gaming.”