Bharti Softbank, the joint venture between telecommunications firms Bharti Enterprises and SoftBank, acquired a 36.5% stake in India-based online media company ScoopWhoop on Monday through its BSB Portal.
BSB Portal is a wholly owned subsidiary of BSY Pte, a joint venture between BSB and internet services provider Yahoo Japan. Financial terms of the deal were not disclosed.
ScoopWhoop, which was founded last year, curates sharable content that is currently viewed online and on mobile by more than 8 million unique users a month.
Rishi Mukherjee, chief executive of ScoopWhoop, said: “The investment money will be used towards hiring more people in editorial and technology departments. Besides that, we would also invest in original video content creation.”