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2015-02-04

Exotel acquires Singapore\'s voice-based social media startup Croak.it

Croak.it is an app that allows users to share their thoughts and emotions using voice known as ‘croaks\' instead of typing it.

Bangalore headquartered cloud telephony startup Exotel Techcom Pvt Ltd is acquiring Singapore-based voice-based social media startup Croak.it, as per separate media reports. The company did not disclose the terms of the acquisition.

"There was a good overlap in the nature of the problem we were solving. Voice will continue to remain at the centre of most business communications," Shivakumar Ganesan, Co-founder, Exotel, told The Economic Times.

Croak.it is an app that allows users to share their thoughts and emotions using voice known as ‘croaks' instead of typing it.

In March 2012, Exotel had secured Rs 2.5 crore ($0.5 million) from Mumbai Angels and Blume Ventures.

Cloud telephony helps when a person receives and makes over 30 or 40 phone calls a day for business, then the calls need to be managed. Businesses in the B to C segment receive a large number of phone calls and have a lot of interaction with the consumers. Similarly, when there are important business leads that need to be followed and cannot be missed, these calls need better management.

Exotel was launched in 2011 by Shivakumar Ganesan, who teamed up with Ishwar Sridharan, Siddharth Ramesh and Vijay Sharma to start the venture. An alumnus of BITS Pilani, Ganeshan had earlier launched Roopit, a real-time micro classifieds platform integrated with voice and SMS. Before exploring the entrepreneurial space, he had worked with companies Yahoo! and Flipkart.
 

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