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Kalaari Capital invests $4 million in ScoopWhoop
MUMBAI: ScoopWhoop, the internet media and news start-up, has raised $4 million from Kalaari Capital.
The two-year-old company plans to use the latest round of funding for aggressive expansion of its video production unit, ScoopWhoop Talkies.
The new capital will also be used in hiring editorial resources across beats for different publications. Sales and native content team are also being set up to service the company’s 100 plus brand partners.
ScoopWhoop CEO Sattvik Mishra said, “ScoopWhoop aims to gratify the needs of the millennial generation who relish entertainment and hard-core news in the same vein. We were the first ones to recognise this paradigm shift and created content customised for this target audience. Since then, there is no looking back for ScoopWhoop. In the last 12 months, we have grown almost 300 per cent. We’ve managed to put a great team together, across portals that drive almost 20 million unique visitors monthly. With this funding, we look forward to being the no. 1 digital media company in India by 2017.”
Kalaari Capital partner Bala Srinivasa said, “ScoopWhoop is well on its way to becoming a highly influential new media company for India’s 200 million plus internet and social media savvy youth population. By combining strong editorial capabilities with technology and smart analytics, they are in a position to leverage the massive shift from traditional media to digital advertising. We are excited to partner with Sattvik and the entire ScoopWhoop team in this exciting journey.”
ScoopWhoop raised $1.5 million in September 2014, from Ignite World, formerly known as Bharti Softbank. It clocks around 20 million unique visitors, 70 million page views, 30 million social engagements and over 10 million video views per month.
A home-grown start up, ScoopWhoop publishes digital content relevant to Indian youth. It was launched in November 2013.
Gazbapost.com, a Hindi social entertainment content portal, andVagabomb.com, a women-centric portal, are a part of the company’s flagship brand.