Promoters of Desiredwings.com, a reward based crowdfunding platform, recently acquired Catapooolt.com, India’s most rewarded and industry-backed crowdfunding company. By virtue of this acquisition, together Desired Wings and Catapooolt stand as leaders and the largest crowdfunding platform with various diversified successfully funded campaigns to its portfolio.
Desired Wings is a category agnostic platform facilitating business idea validation and development, help start-ups prefund their future products and services helping them to start and grow without capital investment or fund raising against equity. While both the brands will prevail in the market post this acquisition focusing on different segments of the crowdfunding industry.
Speaking on the occasion, Mr. Shabir Momin, Co-Founder, Desired Wings said, “It is a great moment for us, as post this acquisition we have secured the leadership position in the industry and now with the combined strength of both the brands we can grow faster and also help shape this industry. This is an industry which will become the foundation of the start-up ecosystem and help them grow faster. We are witnessing the trends that can put Indian crowdfunding projects on the global map. We have seen how crowdfunding has helped many start-ups come to the forefront and eventually become very successful companies.”.
He further added “Currently the International market size of crowdfunding is $32 billion, Asia has a huge potential of start-ups and entrepreneurs delivering great innovations and concepts to the world. Fuelled by crowdfunding support they can leapfrog to a higher growth trajectory.”
Commenting on the acquisition, Mr. Satish Kataria, Managing Director, CATAPOOOLT said, “I have worked hard along with my team to get Catapooolt to where it stands today. Joining the family and making it more stronger with Desiredwings is a big boost. I see a much larger and structured growth with a new vison which helps us together to cover larger geographies and industry verticals. I am a strong believer of crowdfunding a way to make impossible dreams come true for many by the strength of many”.
Mr. Mohammed Sirajuddin Co-Founder, Desired Wings commented, “We are excited with both the platforms having done some very highly reputed campaigns and brand associations so far. With the two power houses coming together as one consolidated team will change the dynamics and will effectively deliver much more to the future campaigns and start-ups”.
Ravi Kiran, Co-founder of Venture Nursery and Investor of CATAPOOOLT added: Crowdfunding is an evolving model of supporting early stage ventures and we have seen and supported Catapooolt making some bold forays in this domain. Knowing that it’s not easy to push through a new concept in a tough market like India/Asia, we believe that the proposed acquisition of Catapooolt would give the combined platform more operational bandwidth to continue populating this medium and connecting ideas to the communities. We wish Catapooolt all the best in this new journey”.
Crowdfunding companies like Kickstarter, Indiegogo etc. who have helped many companies globally like Pebble, Oculus, Baubax raise millions of dollars have now entered Asian market as well. While regional crowdfunding companies have their own head start over International players the market is far from saturation and the scope to help more and more entrepreneurs is never-ending. While large and established organisations like Sony and few others have also launched crowdfunding projects for some of their products. Crowdfunding is not only for those who need capital as the common myth is, it’s also for those who want to secure faith and endorsements from market along with money to add to their existing confidence and build faster.