Twitter and ZipDial today put an end to a month long speculations about a possible acquisition. ZipDial is the first Indian startup to be acquired by Twitter this year. The deal is expected to be somewhere in the price range of $30-40 million. The Bangalore based startup ZipDial enables customers to market their products and services to consumers even without a smartphone.
ZipDial uses the power of missed calls and conventional text messages to enable companies and brands to touch base with consumers. The move will allow Twitter to reach a whole new section of users in emerging countries especially in south-east Asia.
According to an official statement from Twitter, “For many, their first online experience will be on a mobile device — but the cost of data may prevent them from experiencing the true power of the Internet. Twitter, in partnership with ZipDial, can make great content more accessible to everyone.”
ZipDial, in an official statement, said “This is a huge achievement for the entire ZipDial team, and an opportunity to reflect on everything we’ve accomplished since our start in 2010. The company was founded on the insight that consumers and brands in emerging markets behave differently and have different needs. We build for them and their unique behaviours.”
The startup made use of India’s biggest phenomenon since the launch of mobile phones in the country — missed calls. It enabled its customers to easily reach customers using this offline mechanism. All consumers had to do is give a missed call on a given number, and then choose to receive promotional messages without being charged.
At Twitter, the company’s team will continue to build on te existing platform that it has been working on since 2010. The startup wants to make Twitter’s content accessible across the globe, on all mobile phones especially in emerging markets.
ZipDial’s early investors include Blume Ventures, AngelPrime, Mumbai Angels, and other major investors like 500 Startups, Jungle Ventures, and Unilazer Ventures. Neither of the companies chose to declare the financials of the transaction, but we’ll be hearing about that sooner or later.
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