Cisneros Interactive, a digital advertising division of Cisneros, announced a USD 2 million capital investment in Audio.ad, the digital audio advertising company in Latin America.
Audio.Ad will expand operations in Brazil nd Central America, and strengthen its position in the U.S. Hispanic market. A percentage of the funds also have been earmarked for product development.
Cisneros Interactive first acquired a majority stake in Audio.Ad in March of 2015. The company, Founded by German Herebia and Carlos Cordoba, is the first network of audio spots to serve Latin America and the U.S. Hispanic market, allowing advertisers to place audio advertising spots in traditional radio stations’ live online streams and digital audio-streaming services heard on a variety of connected devices, such as desktop computers, laptops, smart phones, tablets, and digital audio players.
“We are thrilled and encouraged by the company’s fast progress. It is no secret that users of all ages are listening to music and talk radio on their computers and smartphones. Just like what happened with desktop advertising, and later with mobile, users are the first to move to new platforms and advertisers follow close behind”, stated Victor Kong, President of Cisneros Interactive.