Digital Agencies
Vertoz shares gain in opening trade
MUMBAI: It was a rare sight to witness at the bourse today when Vertoz Advertising became the first programmatic advertising company to be listed on National Stock Exchange this morning. The price for the public issue of 15.84 lakh equity shares was fixed at Rs 108 per share. Within the first 3 hours, the stock skyrocketed 21.6 per cent trading at Rs 129.6 after opening at Rs 116.
Founded in 2012, Vertoz has offices worldwide with its global headquarter in New York, USA. It offers engaging and innovative advertising and monetisation solutions to clients as a better option to the traditional methods of media buying and selling. The company’s technology, advanced capabilities and programmatic platform makes for a highly scalable software platform that powers and optimises the marketplace for real-time trading of digital advertising inventory between advertisers and publishers.
Indiantelevision.com got talking to the company’s founders and CEO Ashish Shah and founders and chairman Hiren Shah where they spoke about the company’s growth, division of funds raised from the IPO, programmatic advertising in India and much more. Excerpts:
Why did Vertoz take the IPO route when most agencies prefer private investments or acquisitions?
Ashish: We believe in doing different things rather than doing things differently. A lot of companies in our sector have gone through a private equity round and we did too had the same option but we chose to have an IPO as it helps in distributing the wealth in a better way. There are a lot of people in the company, investors, M&A, and all of that requires cash. Private equity wouldn’t have helped in solving that problem.
What was the revenue of the company last year and how much has it grown? What is your projection for next year?
Hiren: Our net revenue stood at Rs 20 crore in 2016 and at Rs 9 crore in Q1 2017. We are expecting revenue of Rs 30-40 crore in 2018. The way India is growing and with people moving to digital, we are expecting a huge growth in the segment.
Will you be looking at acquisitions going forward?
Hiren: Yes, but we will be looking at acquiring companies and not getting acquired. We have a subsidiary in the US and other European countries for acquiring digital businesses. We will be using the funds raised from this IPO to acquire those businesses.
When can we expect that to happen?
Hiren: Soon! It should happen in the second half of 2018.
When will you be listed on NSE completely?
Hiren: It is mandatory for small and medium-sized enterprises to be listed on NSE Emerge for at least two years or four annual general meetings. Once we are able to comply with that, we will be listed on NSE, maybe in late 2019 or early 2020.
How do you intend to use the funds raised for the IPO?
Hiren: We would be using around 70 per cent of the funds in inorganic growth and acquisition of businesses and the rest 30 per cent at a macro level on working capital of our business.
Do you think the Indian media industry has understood programmatic advertising and are leveraging it to the best use as opposed to other markets?
Hiren: It is a long way to go for India as people here are still not aware about programmatic advertising. They still follow traditional methods of advertising and it was the case with the US as well but they have evolved in programmatic to a greater extent. India on the other hand, still needs to understand the core of it but with prime minister’s Digital India movement, programmatic will see better days.
How do you think will programmatic advertising shape up Indian media over the next few years, say by 2020?
Ashish: India is a growing economy and is rapidly adopting various policies and changes for a future ready industry. We would be able to achieve what western countries have achieved in a quicker time.
How much do advertisers spend on programmatic now? How much is it in the west?
Hiren: Advertisers shell out less than 5 per cent of the advertising spends and a major chunk still goes into traditional media. In western countries, this number is close to 60 per cent.
When do you think will we be able to use programmatic advertising in radio?
Hiren: Although programmatic advertising is already happening in radio and television in other counties, it would start in India very soon, maybe by 2019. Some radio players are using programmatic in jingles but that is only limited to online radio.
How will programmatic adverting shape up in India going forward?
Ashish: programmatic is the need of hour and has huge potential in the ad world. Advertisers can take quick decisions on what they should do or change in their marketing communications. Although programmatic advertising will evolve in India, it will also change its form with various technologies coming in place.
In western countries, in-house teams are created for this. Is it a challenge for agencies to sustain?
Ashish: I don’t see it as a challenge for agencies as it is just about economies of scale.Everybody has a room for everything.
BENGALURU: For years, creative teams have learned to live with ambiguity. Vague comments, last-minute changes, feedback that arrives without context, clarity, or conviction. It became part of the job – something teams worked around rather than getting it solved.
But as we head into 2026, that tolerance is wearing thin.
Creative work today moves faster, scales wider, and involves more stakeholders than before. Teams are producing more content across more formats, often with distributed collaborators and tighter timelines. In this environment, guesswork is no longer a harmless inconvenience. It’s a cost – to time, to budgets, and to creative mindspace.
The real problem isn’t feedback, it’s how it’s given
Most creative professionals you see today will tell you they’re not against feedback. In fact, they rely on it. Good feedback sharpens ideas, strengthens execution, and pushes work forward. The problem is ‘unclear’ feedback. When someone says “this doesn’t feel right” without context, they aren’t just revising – they’re basically decoding. They’re guessing what the problem might be, trying different directions, and burning time in the process. Multiply that by a few stakeholders and a few rounds, and suddenly days disappear.
In 2026, when teams are expected to deliver faster without compromising quality, interpretation is a luxury most can’t afford.
Scale has changed rverything
Creative projects used to be smaller and simpler. A designer, a manager, maybe one client contact. Feedback loops were short, even if they weren’t perfect.
Today, the same project might involve internal marketing teams, agencies, freelancers, brand reviewers, and regional teams. Everyone has a say. Everyone leaves comments. And often, those comments don’t agree. More people reviewing work means alignment matters more than ever. Clear feedback isn’t just about being nice to creative teams, it’s about keeping projects moving when complexity increases.
Guesswork quietly wears teams down
One of the less talked-about impacts of unclear feedback is what it does to people.
When feedback is vague or contradictory, creatives second-guess their decisions. They hesitate. They overwork. They keep extra time buffers “just in case.” Over time, confidence drops. Ownership fades. Work becomes safer, not stronger. Creative energy gets spent on managing uncertainty instead of pushing ideas forward. And in an industry already grappling with burnout, unclear feedback adds unnecessary mental load.
Actionable feedback is a shared skill
Clear feedback doesn’t mean controlling creative decisions or dictating every detail. It means being specific enough that someone knows what to do next.
Actionable feedback answers three basic questions:
What exactly needs attention?
Why does it matter?
What outcome are we aiming for?
This applies whether you’re reviewing a video frame, a design layout, or a copy draft. The clearer the feedback, the fewer follow-ups it creates. In 2026, teams that treat feedback as a skill and not an afterthought, will move faster with less friction.
Tools shape behaviour (whether we admit it or not)
The way feedback is delivered is often dictated by the tools teams use. Comments buried in long email threads, messages split across chat apps, or notes detached from the actual work all contribute to confusion.
When feedback lives outside the work, context often gets lost. When it’s disconnected from versions and timelines, decisions get questioned. When it’s scattered, accountability disappears. More teams are starting to realise that feedback problems aren’t just communication issues, they’re workflow issues. How work moves between people matters just as much as the work itself.
From Opinions To Alignment
One of the biggest shifts happening in creative teams is a move away from purely opinion-driven feedback. Instead of “I like this” or “I don’t,” teams are asking better questions:
● Does this meet the brief?
● Does this solve the problem?
● Does this align with the goal?
This change reduces unnecessary back-and-forth and helps feedback feel less personal and more productive. It also makes decisions easier to explain and defend. As creative work becomes more strategic, feedback has to support that shift.
2026 Is About Fewer Loops, Not Faster Loops
There’s a misconception that speed means moving through feedback cycles faster. In reality, the most creative teams aren’t just accelerating loops, they’re reducing them. Clear, actionable feedback upfront leads to fewer revisions later. Clear approval stages prevent last-minute surprises. Clear decisions stop work from circling endlessly.
In 2026, efficiency won’t come from working harder or longer. It will come from designing workflows that respect creative time and attention.
Ending guesswork is a mindset change
Ultimately, ending creative guesswork isn’t just about better tools or processes. It’s about mindset. It’s about recognising that clarity is an act of respect – for the work, for the people doing it, for the time invested and for the mindspace used. It’s about moving from “figure it out” to “here’s what we’re aiming for.”
Creative teams that embrace this shift will find themselves not only delivering faster, but also enjoying the process more. And in an industry built on imagination, that might be the most valuable outcome of all.
