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1000 biz owners to launch social media Pepul
January 18, 2022
After raising ₹10 crore up in seed funding last week from investors like Paytm originator Vijay Shekhar Sharma, Freshworks author Girish Mathrabootham and Silicon Valley based investor firm Hourglass Venture, Chennai-based social media startup Pepul let Business Standard know that it is looking to raise around ₹200 crore by June this year for expansion.
The social media platform, focus online ethical practices, will be launch by 1,000 entrepreneurs the nation over on January 26. Pepul, established by G Suresh Kumar, will use an Aadhaar-based client check framework to dispose of fake accounts on its platform. “We are intending to raise around ₹200 crore by June this year. We have as of now got a confirmation for half of this from one of the current investors,” he said. After the launch, the arrangement is to expand its footprint first in quite a while like India, the US and the UK.
“We believe in organic growth and are trying to rope in influencersin all these countries to market the platform,” Kumar added. It will be thinking of a monetization models for creators and small scale entrepreneurs by 2023. Through Aadhaar-based verification, something like 90% of its clients will have a verified account. “We need to expand our base to 10 million users by January 2023. Our revenue model will be a targeted advertising model looking at an audience who require it,” he said.
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