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Bharti SoftBank acquires 36.5% stake in India’s ScoopWhoop

Bharti SoftBank, a joint venture between Bharti Enterprises and SoftBank Corp, has expanded into the Indian mobile internet space by investing in the Indian entertainment media website ScoopWhoop through BSB Portal Limited.

BSB Portal Limited will have an effective stake of 36.5 per cent in ScoopWhoop. The partnership will strengthen both as the content creation will be done by ScoopWhoop and the website will use the mobile-optimised technology platform and distribution of BSB.

ScoopWhoop is an entertainment media startup that creates and curates India focused content that gets shared on social networks. The website and mobile app have received about 20 million monthly page views and 8 million unique visitors each month. Over 50 per cent of the page views are accessed via smartphones.

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.”

Speaking on the partnership, 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.”

Shubhi Tandon

Shubhi Tandon is the Assistant Editor at Digital Market Asia. Fascinated by the evolving digital media industry, she has focussed on tracking developments in the Asia Pacific market since 2014.