Bharti Airtel buys strategic stake in Juggernaut Books

bharti-airtel

New Delhi, Dec 4: India’s telecommunication major Bharti Airtel on Monday announced that it has acquired a strategic stake in Juggernaut Books, a noted digital platform to discover and read high quality, affordable books and to submit amateur writing.

The investment is in line with Airtel’s endeavour in a bid to build an open content ecosystem and bring high-class digital content to its customers, the telecom service provider stated.

The investment from Airtel, as per the publisher, will enable Juggernaut to scale up content acquisition and digital marketing and prepare for a subscription offering launch withing upcoming few months.

Badal Bagri, Chief Financial Officer, Bharti Airtel, said: “Juggernaut is an exciting digital platform and complements our content vision. We look forward to working with them and supporting the next phase of their growth journey”, news agency IANS quoted.

Juggernaut’s former investors are Infosys co-founder and current chairman, Nandan Nilekani and Boston Consulting Group India CEO Neeraj Aggarwal.

Launched in April last year, the platform has nearly 1 million downloads across Android and iOS.

Talking about fund raise, Chiki Sarkar, founder and publisher, Juggernaut Books, asserted “We are excited to partner with Airtel in our journey ahead. Airtel has a great understanding of digital content consumption and we have much to learn and benefit from this strategic partnership”.

In May 2017, the writer’s platform went live to offer amateur writers an opportunity to digitally publish their content and stand a chance to win publishing contracts.

The digital writer’s platform in the last six months has received just under 500 stories with nine of them securing publishing contracts.

“Our ambition is to get many more Indians to read and write, and our partnership with Airtel will allow us to expand our distribution manifold,” Simran Khara, CEO, Juggernaut Books, added.

Focused on the rapid smartphone usage in India, Juggernaut’s catalogue of 5000+ books is powered by prominent authors such as Twinkle Khanna, Arundhati Roy, William Dalrymple, Rujuta Diwekar, Rajdeep Sardesai, Sagarika Ghose and Sunny Leone.

Wefornews Bureau 

Total
1
Shares
Related Posts