With 50mn users, homegrown app Public raises Rs 258 crore
Location-based homegrown social media app Public on Wednesday said it has raised $35 million (about Rs 258 crore) in fresh funding that the company will use to scale up tech infrastructure, content offerings and employee base.
The Public app, which has more than 50 million active users, offers local updates and happenings to local commerce, jobs, classifieds and more.
"We are thrilled to have this support from Addition, SIG Global and Tanglin Venture Partners in our journey towards building the world's largest location-based social network," said Azhar Iqubal, Founder and CEO, Public App.
"With more than 50 million active users and over one million videos being created every month on the app, Public aims to connect the local communities of Bharat and become the one stop solution for all their local needs".
Launched by Inshorts in April last year, the app is available in Hindi, Bengali, Punjabi, Telugu, Tamil, Kannada, Malayalam, Odia, Assamese, Gujarati and Marathi.
The app allows people to record and share happenings around them enabling real-time local updates.
"While political leaders, government authorities, media houses and citizen journalists use the app to connect with communities and disseminate verified and trustworthy video content, local businesses like shops, astrologers, doctors, lawyers use the platform to reach out to the local consumers," the company said.
"The plan is to utilise the funding towards rapid scaling up of tech infrastructure, content offerings and employee base to further speed up the growth and continue improving on retention and engagement," it added. - IANS