Twitter Inc on Tuesday said it will buy Indian mobile phone marketing start-up ZipDial, reportedly for $30 million to $40 million, as the U.S. microblogging service looks to expand in the world’s second-biggest mobile market.
Bengaluru-based ZipDial gives clients phone numbers for use in marketing campaigns. Consumers call the numbers and hang up before connecting and incurring charges, and then receive promotion-related text messages.
The start-up’s clients include International Business Machines Corp, Yum! Brands Inc’s KFC and Procter & Gamble Co’s Gillette.
The service capitalizes on a local tradition of communicating through so-called missed calls. A person may give a friend a missed call to signal arrival at an agreed destination, for instance, without having to pay the cost of a phone call.
Such “unique behavior” was behind ZipDial, the start-up said in a statement announcing the Twitter deal.
Twitter did not disclose terms of the purchase. Techcrunch, citing unidentified sources, reported the deal at $30 million to $40 million.
“This acquisition significantly increases our investment in India, one of the countries where we’re seeing great growth,” Twitter said in a statement.
The acquisition is the latest in India by global tech giants who have snapped up companies in a fledgling startup scene, concentrated in the tech hub of Bengaluru in southern India.
Last year, Facebook Inc bought Little Eye Labs, a start-up that builds performance analysis and monitoring tools for mobile apps. Yahoo! Inc bought Bookpad, whose service allows developers to add document viewing and editing to their own applications.
Source : Reuters