SMS GupShup Raised $10 Million in series E funding
Mumbai-based social networking site, based around SMS and bulk messaging, SMS GupShup, has raised $10 million from Tenaya Capital. Including this, SMS GupShup has raised $47 million till date. Money is raised at the valuation of 1,000 crore though company is targeting a revenue of 100 crore by the end of FY-12, ie. valuation is more than 10 times of its current revenue. Majority of revenue comes from GupShup’s bulk messaging system.
SMS GupShup, owned by Webaroo (an offline search engine company), was incorporated in 2007 by Silicon Valley entrepreneurs and incubated at IIT Bombay’s SINE(Society for Innovation and Entrepreneurship). GupShup connects 50 miilion users, 5 million user generated communities and 25,000 small businesses via Mobile and SMS.
Company: SMS GupShup
Website: http://www.smsgupshup.com
Location: Mumbai (IIT-Bombay)
Started in : 2007
Funding till date: $47 Million
CEO: Beerud Sheth
Ref: http://blog.dreamstarts.in/sms-gupshup-raised-10-million-in-series-e-funding/
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