Helion, Charles River invest $ 11 mn in SMS GupShup
Televisionpoint.com Correspondent | Mumbai
Helion Ventures and Charles River Ventures (CRV) have invested $ 11 million in SMS GupShup, a mobile community platform company. The capital will be used to fund business growth, product development and increased sales and marketing.
"Helion Ventures is excited about SMS GupShup's rapid growth and leadership position in the dynamic mobile space. We believe that this innovative platform for mobile communities and advertising has immense potential," said Ashish Gupta, managing director, Helion Ventures.
Since its launch in April 2007, the free SMS-based group messaging service has rapidly grown with over 12 million unique users, in over 5,00,000 communities ranging from finance, entertainment, business, news, education, spiritual and health etc.
The company is seeing increasing adoption from major advertisers for targeted, contextual mobile advertising. Initially launched in India, SMS GupShup will later be available in other geographies.
"This investment will enable SMS GupShup to innovate faster and deliver great products to consumers, advertisers and enterprises," said Beerud Sheth, president, and cofounder, SMS GupShup.
Helion Ventures and Charles River Ventures (CRV) have invested $ 11 million in SMS GupShup, a mobile community platform company. The capital will be used to fund business growth, product development and increased sales and marketing.
"Helion Ventures is excited about SMS GupShup's rapid growth and leadership position in the dynamic mobile space. We believe that this innovative platform for mobile communities and advertising has immense potential," said Ashish Gupta, managing director, Helion Ventures.
Since its launch in April 2007, the free SMS-based group messaging service has rapidly grown with over 12 million unique users, in over 5,00,000 communities ranging from finance, entertainment, business, news, education, spiritual and health etc.
The company is seeing increasing adoption from major advertisers for targeted, contextual mobile advertising. Initially launched in India, SMS GupShup will later be available in other geographies.
"This investment will enable SMS GupShup to innovate faster and deliver great products to consumers, advertisers and enterprises," said Beerud Sheth, president, and cofounder, SMS GupShup.
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