Kumar Apoorv, former chief of digital media firm ValueFirst Messaging Pvt Ltd, has joined as the group CEO of Way2sms.com and 160by2 - both owned and operated by Way2Online Interactive India Pvt Ltd, said a MediaNama report citing sources. This development comes more than a year after ValueFirst reached an out-of-court settlement with Hyderabad-based Way2Online Interactive over a disputed acquisition.
Apoorv joined ValueFirst in October 2008 as its chief operating officer. He was later elevated to CEO but quit the firm in September 2012. Prior to that, he was working with Naukri.com as its VP and national head for mobility, investments and ad sales.
In March 2012, ValueFirst had announced that it was acquiring Way2sms.com and 160by2.com. However, the acquisition did not get through and the deal was scrapped, prompting Way2Online Interactive's promoter Venkam Raju to file a petition with the Delhi High Court. Early last year, a settlement was reached between the two firms, and as part of the agreement Way2SMS's promoters got possession of the business and the acquisition stands scrapped.
Way2SMS and 160by2 are personal messaging platforms that help users to send SMSes to any mobile in the country for free.
(Edited by Joby Puthuparampil Johnson)