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India’s social networking giant GupShup raises $12 million
Indian Twitter like SMS social networking giant GupShup raised another $12 million in a funding led by venture capitalists and other industry giants. This latest injection has brought the level of funding to some $37 million.
Gupshup is a social network that is mainly accessed and used through SMS in the Indian market. It has been serving about 26 million users within India. The main reason for its sudden growth into such a giant is the high number of mobile users and the factor that is 10 to 1 ratio of mobile to PC users. As people dont have access to computers they are indulging in social networking and twitter like conversations through mobile services.
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