0

exotel_acquires_croakit

Bangalore-based cloud telephony startup Exotel Techcom Pvt Ltd, has acquired Singapore’s voice-based social media startup Croak.it! This is the first acquisition for Bengaluru-based Exotel, which is targeting to achieve a revenue of about, Rs 185 crore in next two years. Exotel chief executive Shivakumar Ganesan confirmed the deal, but declined to disclose the purchase price and terms of deal.

As per the deal, Croak.it’s founders Protik Roychowdhury and Srinivasa Teja will join the board of the company.

“We liked the team and the product at Croak.it,” said Ganesan, CEO, Exotel. “There was a good overlap in the nature of the problem we were solving. Voice will continue to remain at the centre of most business communications.”

Exotel replaces expensive communication hardware system with affordable cloud-based telephony solutions for customers like taxi aggregator Olacabs, bus ticketing site redBus and online lingerie retailer Zivame. The acquisition will help it improve its services.

Founded in 2012 by IIT Kharagpur alumni Protik Roychowdhury and Srinivasa Teja, Croak.it! is an online platform where one can express oneself using their voice instead of text. Every unique voice stamp is called a croak on the platform.

Exotel which competes with Gurgaon-based, Sequoia-backed startup Knowlarity plan to acquire more startups which operate in the voice space. Last January Knowlarity bought Delhi-based cloud telephony start-up Unicom Techlabs, for an undisclosed amount.

In March 2012, Exotel had secured Rs 2.5 crore ($0.5 million) from Mumbai Angels and Blume Ventures.

Like this content? Sign up for our daily newsletter to get latest updates.

Comments

comments

Vardaan
Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

SchoolCom Launches SmartTabs In Schools, A Ubiquity Focused Device Pre-Fed With Master Data Of A Particular School

Previous article

IRCTC Started Cash-On-Delivery (CoD) System Rail Ticketing At Your Doorstep

Next article

Comments

Comments

comments

Leave a reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.