Indian Social Networking Startup Lands Another $12 Million
With $37 million in financing raised to date, Mumbai-based SMS GupShup is looking to expand rapidly, including into new markets like the Philippines and Indonesia. Internally, it has grown from 100 to 130 employees in the last two months and is seeking to add another 20 in areas such as marketing, engineering and ad sales. Despite the growing overhead, the company expects to turn a profit this year.
SMS GupShup says it now accounts for 5% of all text messages sent in India, which has about 500 million cell users. That total is expected to swell to 771 million by 2013, according to Gartner. SMS GupShup is also cultivating powerful alliances, cutting a deal with Facebook last year to deliver its users status updates via text messages. As part of the latest funding round, Venky Ganesan, managing director of Globespan Capital Partners, will join SMS GupShup's board. --Mark Walsh
Recent Online Media Daily Articles
-
Millennial Expands Video Ad Options June 19, 11:44 a.m.
Mobile ad network Millennial Media is stepping up its video ad offerings with the launch of ... -
CIMM Issues Request For Data, Cross-Platform Metrics June 19, 9:29 a.m.
The Coalition for Innovative Media Measurement (CIMM) said it has issued a request for proposals involving ... -
Heads Or Tails: Facebook Grows A Long One, Surpasses 1 Million Advertisers June 19, 7:48 a.m.
Facebook has reached an important ad industry milestone, becoming one of the few mega platforms to ... -
Consumer Action: Most Web Users Want Control Over Tracking June 18, 8:20 p.m.
Most Web users have expectations about privacy that appear to be at odds with current practices ... -
Affiliate Channels Attract Global Buying, Tailored Marketing Programs June 18, 5:54 p.m.
The Internet continues to make the world smaller for affiliate marketers, but there are physical challenges ... -
Motorola Hires Digitas For Global Media Account June 18, 5:43 p.m.
Google-owned Motorola has appointed Publicis Groupe’s Digitas to handle global media duties, according to sources. Those ... -
Microsoft Rolls Out Ad Pano, Mobile Ad Format June 18, 3:03 p.m.
With the help of the broader ad industry, Microsoft this week is rolling out a mobile ... -
Kiip Debuts Self-Serve Option For Advertisers June 18, 2:23 p.m.
Mobile rewards network Kiip has added a self-serve option for advertisers aimed at attracting more small- and medium-sized ... -
Mindshare Taps Elkins As Managing Director, Digital, West Coast June 18, 1:51 p.m.
Mindshare, part of WPP's GroupM, has tapped digital marketing veteran Amy Elkins to be managing director, ... -
Blogging Stake: WPP Invests In Muzy June 18, 9:12 a.m.
WPP has taken a stake in Muzy Inc., an early-stage micro-blogging service focused on mobile content ...
Be the first to comment on "Indian Social Networking Startup Lands Another $12 Million"
Leave a Comment