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Ratan Tata invests in news portal YourStory
MUMBAI: Tata Group chairman emeritus Ratan Tata has invested an undisclosed amount in the news portal YourStory.
Founded in 2008 by Shradha Sharma, YourStory is an online media entity that profiles start-ups and entrepreneurs.
The first round of funding saw participation from Kalaari Capital MD Vani Kola, Qualcomm Ventures MD and VP Karthee Madasamy and former Infosys board member TV Mohandas Pai.
The investment also marks Tata’s foray into a news portal. It will also be his tenth investment in internet-led businesses over the last two years.
Prior to this, Tata has invested in several online portals including Snapdeal, e-tail furniture portal Urban Ladder, CarDekho and Ola Cabs.
Having funded the organisation herself for seven years, Sharma said that the portal would be using the funds to launch a mobile-led tech product that will help people to write, talk and view their own stories in native Indian languages. This is being driven by the fact that more people are keen on knowing about the start-up ecosystem and are consuming content on their smartphones.