Bharti SoftBank (BSB), a joint venture between Bharti Enterprises and Japanese Internet firm SoftBank Corp, has acquired 36.5 per cent equity stake in ScoopWhoop Media Private Limited for an undisclosed amount, as per a company statement.
The partnership will combine content creation for Indian youth by ScoopWhoop and mobile-optimised technology platform and distribution by BSB for Indian consumers.
“Media consumption patterns are rapidly evolving and this space is ready for disruption. The team at ScoopWhoop has demonstrated significant growth by leveraging its strength in understanding and creating locally relevant content for India’s young audience,” Madhu Nori, CEO, BSB Portal Limited, said.
“In BSB we found the perfect partner who believes in our vision and back us both financially and strategically,” Sattvik Mishra, co-founder and CEO, ScoopWhoop.