#Asia India’s Times Internet acquires majority stake in TaskBucks for US$15M


With a million new users each month, TaskBucks aims to cross 50 million downloads two years



India-based Times Internet Ltd has acquired a majority stake in mobile marketplace TaskBucks for US$15 million.

Founded in 2014, TaskBucks, operated by Digismart Digital Media, is a mobile-only marketplace that rewards users for completing micro-tasks on their smartphones.

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The Gurgaon-based startup plans to use the money raised to build more ways for the company to leverage its user base, the company said in a statement.

TaskBucks currently offers brands the option for app discovery, user retention, referral tasks, offer signups and social content sharing, as promotions that they can offer consumers.

It plans to soon launch TaskBucks Pro, a premium version where users can perform real-world tasks for brands, to earn more.

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“We’ll also be working closely with Times Internet to build our brand and drive growth of our mobile app,” said Kumar Apurva, CEO, TaskBucks.

He further said the company will soon add crowdsourced tasks, surveys, opinion polls and offline photo tasks to offer more options for consumers and advertisers.

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The company claims to have clocked about five million downloads of the app, which is currently only available on the Android platform. According to TaskBucks, it adds around a million new users each month, with the aim of crossing 50 million downloads in the next two years.

Last month, Times Internet, part of the Times Group, invested in auto portal CarDekho.com. It also invested in US-based Coursera Inc, an edutech company, along with other investors.

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