Rediff Buys Stake in Vakow

Rediff.com India Limited (Nasdaq:REDF) has announced that it has invested an undisclosed sum in Vakow.com , a fast growing SMS content sharing social community started by IIT Bombay alumni Rahul Gupta and Amit Upadhyay. The investment is part of Rediff’s strategy to encourage young and promising start up companies to innovate and build world class products that will be mutually beneficial.

Vakow.com which is rapidly becoming popular amongst the young and fast growing mobile population in India was launched in Oct, 2007. Vakow.com allows users to post their SMSes on its website and share them with their friends on phone, email and on various other popular social networking platforms for FREE. Using Vakow! users can stay in touch with their friends and receive a variety of useful and interesting SMSes.

Ajit Balakrishnan, Chief Executive Officer and founder of Rediff.com, said, “We are delighted to extend our support to promising Start-up Companies, such as vakow.com – as their concept is built around forming social communities using the mobile medium which is fast becoming popular amongst the young Indian users”.

Rahul Gupta, CEO & Founder of Vakow.com, said, “We are very excited with the early success of our concept and the response from our community has been extremely encouraging. Our vision is to create the best & the largest SMS sharing community in India and Rediff’s investment will help us to execute our vision.”

Vakow.com also allows users to start their SMS blog, follow friends (or tags) to receive SMSes from them and comment on them from their mobile phones. Users can rate, tag and search for SMSes and also send free personal SMSes to any mobile phone in India.

Vakow is an SMS content sharing social community which was launched by IIT Bombay alumni Rahul Gupta and Amit Upadhyay in Oct, 2007. Vakow allows users to post their SMSes on its website and share them with their friends on phone, email and various social networks, for FREE. Using Vakow! they can stay in touch with their friends and receive a variety of useful and interesting SMSes.

Leave a Reply