Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
SBB Ventures Pvt Ltd owned crowdsourced movie review and online entertainment site Clapsnslaps has raised $150K (INR 1 Cr) in its second round of angel investment from a Mumbai-based production house R M Picture Company Pvt. Ltd.
A newly founded boutique investment bank Radix Capital Advisors was financial advisor for the transaction
The company plans to use the capital to upgrade its technological infrastructure, to boost its operations and hire talent.
Soon, Clapsnslaps intend to launch new offerings that they say will be first of its kind in the industry.
Clapsnslaps had raised the same amount in its first round of funding as well.
Started in 2013 by Pravin Shah, an alumnus of Raheja School of Arts and CEO of Six Inches Communication Pvt Ltd, Clapsnslaps claims to have more than 10,000 registered users, over 70,000 monthly unique visitors and more than 130,000 monthly page views.
The movie review space has multiple players in the domain including Desi Martini, Amazon-owned IMDB and Yahoo’s entertainment sections.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.