Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Times Internet, a digital products company and part of the Times of India Group, has invested $15 Mn in Taskbucks, a mobile only tasks marketplace, along with acquiring majority stake in the company.
Gurgaon-based Taskbucks is owned by DigiSmart Digital Media Pvt. Ltd. The startup was founded in 2014 by Kumar Apurva. Kumar’s stint includes working in companies like Info Edge, ValueFirst, Way2Online, and Times Internet. His 15 years of experience in new media and startup experience in the field of Internet & mobile space has made Taskbucks popular among users.
Kumar Apurva, founder & CEO of Taskbucks said, “We intend to use this funding to build out more ways for companies to leverage access to our 5 million strong and rapidly growing user base. We will soon be launching Taskbucks Pro, a premium version of Taskbucks where users can perform real-world tasks for brands, to earn more. We’ll also be working closely with Times Internet to build our brand and drive growth of our mobile app.”
Taskbucks is a mobile only tasks marketplace that matches consumers with brands and enterprises on its unique platform. Companies offer tasks to Consumers, who are rewarded for completing these micro tasks, via the Taskbucks marketplace.
Taskbucks is presently available on the android platform counting nearly 5 million downloads without marketing, and adding over 1 million new users each month. The company plans to cross 50 million downloads in the next two years.
Taskbucks presently offers brands the option for app discovery, user retention, referral tasks, offer signups, and social content sharing, as promotions that they can offer consumers. The company will soon be adding crowdsourced tasks, surveys, opinion polls, offline photo tasks, and many other modules that will provide more variety and options for consumers and advertisers.
Miten Sampat, VP Corporate Development,Times Internet, said, “Taskbucks is reducing friction in the connection between consumers and companies, in a way that drives value for both. As hundreds of millions of Indians get connected with smartphones, Taskbucks is one of the few services that has an immediate and clear value proposition for the consumer. Led by a strong, experienced team, I’m confident Taskbucks will add value to millions of Indian consumers.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.