Welcome Guest

Businessex.Com
Home News Bharti Softbank acquires 36.5% stake in entertainment media start-up Scoopwhoop

Bharti Softbank acquires 36.5% stake in entertainment media start-up Scoopwhoop

Tags: Bharti Softbank, BSB Portal Limited, equity stake, startup, media

November 04, 2014 | COMMENTS ( 0 )

Bharti Softbank acquires 36.5% stake in entertainment media start-up Scoopwhoop

Bharti Softbank (BSB), a JV between Bharti Enterprises and Japan-based SOFTBANK CORP, recently announced that it has acquired equity stake in ScoopWhoop Media Private Limited (ScoopWhoop) through its BSB Portal Limited.



ScoopWhoop is an India focused Entertainment Media startup that creates and curates content that gets shared through social networks. Its website and mobile application clock approximately 20 million monthly page views and have over 8 million unique visitors each month. Over half of all the page views are accessed via smartphones, underlining the strong mobile play.



BSB Portal Limited will have an effective stake of 36.5 per cent in ScoopWhoop. The partnership will combine the strengths of both – i.e., content creation for Indian youth by ScoopWhoop and mobile-optimized technology platform and distribution by BSB for Indian consumers.
 

Commenting on the partnership, Madhu Nori, CEO, BSB Portal Limited said, “About a half of India’s population are under 25 years old and the use of social networks with smartphones is growing rapidly among this segment. As a result, Media consumption patterns are rapidly evolving and this space is ready for disruption. The team at ScoopWhoop have demonstrated significant growth by leveraging their strength in understanding and creating locally relevant content for India’s young audience. We believe the partnership offers immense synergies for both parties to create great content experience for India’s mobile internet population.”
 

India is the world’s second largest mobile market with over 900 billion subscribers. A vast youth population and a fast growing economy are expected to drive data usage on mobiles with the proliferation of 3G and 4G services and increasing smartphone penetration. According to the GSMA, India will become the second largest Mobile Broadband market globally within the next four years with 367 million mobile broadband connections by 2016.
 

Sattvik Mishra, Co-Founder and CEO, ScoopWhoop, said, “We are really happy with what we have achieved in the last one year since we started ScoopWhoop in August 2013, but we also know that we have a long road ahead. In BSB, we found the perfect partner who believes in our vision and back us both financially and strategically. I’d also like to thank Sidharth Rao and Haresh Chawla for their constant guidance and advice. With the backup of right partner and advisors, we are gunning for the number one spot.”

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....