DealTracker – SMSGupShup Raises $10 Million
SMSGupShup.com, a service that helps users create mobile communities, has raised $10 million from Helion Venture Partners and Silicon Valley venture firm Charles River Ventures. Both the VC funds are putting in $5 million each in the company, according to to VC Circle.
Owned by Webaroo Technology (India) Pvt Ltd, which had earlier raised $1.5 Million in first round, and $7.5 Million in second round funding for a software product that heps users access internet content when they are offline, SMSGupShup is a free mobile group SMS service that allows users to create mobile communities and broadcast messages to them. GupShup claims that it has thousands of groups on topics such as finance, entertainment, lifestyle, health, sports and technology.
Their revenue models include allowing members to send free SMSs to their group from their website, in lieu of advertisements.
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