We have learnt that SMSGupshup has raised funding in the range of ~$10mn . The investors aren’t yet known (see below for details) , but the deal will be signed very soon.
Update1: The investment news is confirmed (though the amount isn’t). Helion and Charles River Ventures participated in this round (each $5mn) amounting the deal to 10mn$ (we still haven’t got any confirmation on the numbers).
Congrats to webaroo team – the co. started as an offline webpage idea and understood pretty early in the cycle that they need to change track.
Interestingly, Rediff recently invested in Vakow, a sms community (centered towards forwarding jokes), a startup by ex-webaroo employees.
Webaroo investment reinforces my earlier belief on rise of mobile communities in India (and death of online communities, the so-called socoinets)
Check out few interesting smsgupshup communities
Update2: The invested amount is $11mn.