Bharti Softbank picks 36.5% in online platform ScoopWhoop

According to media reports, Bharti Softbank has picked up 36.5% stake in entertainment website ScoopWhoop.

Bharti Softbank is a joint venture company of Bharti Enterprises and Japanese telecommunications major Softbank Corporation.

On Monday, the platform said that it has acquired 36.5% equity stake in start-up ScoopWhoop which focuses on viral content. 

The report further adds that Bharti Softbank has made the investment through BSB Portal. The partnership will combine the strengths of both organisations, content creation for Indian youth by ScoopWhoop and mobile-optimised technology platform and distribution by BSB for Indian consumers the report further concluded. 

SoftBank had led a $210 million investment in Ola Cabs and pumped in another $627 million into e-commerge giant Snapdeal. Its other India investments include ad start-up in Mobi and Bharti.

BSB also runs the Hike instant messaging platform. Commenting on the new deal, Madhu Nori, CEO, BSB Portal Limited, said, “About half of India’s population are under 25 years old and the use of social networks with smartphones is growing rapidly among this segment. As a result, media consumption patterns are rapidly evolving and this space is ready for disruption."