Brand Capital, the strategic investment arm of India’s largest media conglomerate the Times Group (BCCL), has acquired a stake in Ponder, a blockchain-based recommendations platform.
Ponder aims to simplify and make it enjoyable to make and find referrals. Where a referral leads to success, the person making the referral is financially rewarded. It is currently working on an app intended for recruitment purposes which would provide employers a way to source more high-quality referred candidates.
The platform uses blockchain technology to create secure matchmaking communities and ensure data and identity are protected.
According to official release by the startup, “Brand Capital’s investment in Ponder will help the startup launch into the Indian market and leverage the group’s media assets in order to build a robust community of users, increasing engagement on the Ponder platform for different verticals of referrals: recruitment, new customers & romance.”
Founded in 2017 by Manshu Agarwal and Chris Imani, Ponder is a game-like mobile app to play matchmaker where users win money for making successful matches. With a drag and drop photos of friends or other singles that one think would be a good match, users play a matchmakers for singles and if singles like each other the user win $10, if they marry there’s $1000 winning amount. For singles its a way to receive a curated stream of prospects suggested by friends and a community of matchmakers. For everyone, single or in a relationship, it’s a fun, rewarding, and meaningful game.
By using blockchain technology, Ponder decentralizes matchmaking, allowing anybody to play matchmaker for their friends and a community of singles.
The app has been downloaded over 120,000 times and the startup is now aims to build an another referral app for recruitment purposes, providing employers a way to source more high-quality referred candidates.
Earlier this month, Brand Capital, along with other investors, had led investment of $35 million in Toppr, an edtech startup.
In September, Brand Capital had invested Rs. 26 Crore in Avenue11, a Bangalore-based O2O grocery firm.
Prior to this in June this year, HomeLane.com, India’s leading online home interiors brand had raised Rs 24 Crores from Brand Capital.
Via – Tokenpost