Rediff.com Invests in Vakow.com - An Sms Sharing Site previously reviewed on WATBlog!
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You are reading it first here: Well this has to be the news of the day. We knew about this for a week now. The fact that Vakow.com an sms sharing platform that we had covered last year and had written a rave review about had raised funding but we unsure about the prospective investor. We even mailed Rahul gupta a few days back asking him on the funding news but he chose to remain silent. But finally the news is out! And however unlikely it may sound Rediff.com has turned investor and invested in Vakow.com.
As per the release Rediff.com has invested an undisclosed sum in Vakow.com and this move is a part of Rediff’s strategy to encourage young and promising start up companies to innovate and build world class products that will be mutually beneficial. Even earlier rediff has acquired a minority stake in a language related startup Tachyon tech. This strategy seems to work for rediff which is more of a Media and less of a Technology company and hence has to look for technology innovation outside of its own company which can be incubated and gradually tied in with the existing rediff products to create mutual value.
Here is what the investor and the investee had to say about the funding:
Ajit Balakrishnan, Chief Executive Officer and founder of Rediff.com, said, “We are delighted to extend our support to promising Start-up Companies, such as vakow.com - as their concept is built around forming social communities using the mobile medium which is fast becoming popular amongst the young Indian users”.
Rahul Gupta, CEO & Founder of Vakow.com, said, “We are very excited with the early success of our concept and the response from our community has been extremely encouraging. Our vision is to create the best & the largest SMS sharing community in India and Rediff’s investment will help us to execute our vision.”
For all those wanting to know more about how Vakow works can look at our previous review on Vakow.com. If you are a startup and want to be reviewed on WATBlog. Email us at info@watblog.com.
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Thats superb, its been less than one year since they launched vakow at BarCamp2 in Mumbai.
SO what? its a twitter copy!!!! big deal. Ajit B also believes that to fund a proven model is better than to fund an original. Maybe thats why rediff is going haywire