Messaging platform Gupshup joins unicorn club after $100 mln funding
From Akanksha Rana
April 8 (Reuters) - Gupshup announced Thursday that it had raised $ 100 million from investment firm Tiger Global Management, which valued the messaging service provider at $ 1.4 billion.
The company, which had its final round of funding about a decade ago, said it had seen greater investor demand than expected and would raise additional funds to expand its existing product portfolio.
Scroll to continue with the content
Mantolama Teklifi Alın!
Mantolama kararı alındıktan sonra yapılması gereken ilk iş ön keşiftir. Bu aşama için bize 444 6 990 numaralı Weber Çözüm Hattı’mızdan ulaşabilirsiniz
"This funding allows us to scale our product and sales efforts to make it more attractive to investors in the public market," said Chairman Beerud Sheth, adding that the funding enhances the company's ability to go public , "accelerated".
The COVID-19 pandemic has forced people and businesses to rely heavily on messaging apps and tools for business conferencing. More and more people are using social media to keep in touch with friends and family.
Gupshup, which grew solely on internal profits, saw over 80% volume growth from pre-pandemic levels, Sheth said. Gupshup's annual revenue rate was $ 150 million last year.
Founded in 2004 and based in Silicon Valley, known for mass text messaging, companies like Cisco, Unilever, and Walmarts Flipkart now have a single messaging platform to communicate with their customers. (Reporting by Akanksha Rana in Bengaluru; editing by Vinay Dwivedi)
Mention your own website in this post for Advertisement
Prince Philip’s Daughter-In-Law, Sophie, Countess Of Wessex, Discusses His Final Moments
CDC chief urges Michigan to ‘close things down’ amid alarming COVID-19 spike
NFL Legend Troy Aikman Reveals He Still Has Abs in a New Shirtless Photo
Gregg Popovich, Doc Rivers speak out after Daunte Wright shooting: ‘We’re canceling Black lives’
NFL Rumors: Russell Wilson, Pete Carroll reportedly reached out to Giovani Bernard
U.S. senator wants to ban Big Tech from buying anything ever again