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Times Internet gains majority stake by investing $15 million in Taskbucks

Times Internet gains majority stake by investing $15 million in Taskbucks
Image credit: Pixabay
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Times Internet, India’s premier digital products company and part of the Times of India Group, has acquired a majority stake in Taskbucks. Taskbucks (DigiSmart Digital Media Pvt. Ltd.) is a Gurgaon based company, founded in 2014 by Kumar Apurva who has over 15 years of new media and start up experience in the field of Internet & mobile space. Apurva has worked in the Internet and mobile space for over 15 years.

Taskbucks is currently Android only, and has reached nearly 5 million downloads without marketing, adding over 1 million new users each month virally. Taskbucks is ranked in the top 50 Android apps in India, as per Google Playstore rankings. 

Miten Sampat, VP, Corporate Development,Times Internet said, “Taskbucks is reducing friction in the connection between consumers and companies in a way that drives value for both. As hundreds of millions of Indians get connected with smartphones, Taskbucks is one of the few services that have an immediate and clear value proposition for the consumer. Led by a strong, experienced team, I’m confident Taskbucks will add value to millions of Indian consumers.

The funding will be used to build more ways for companies to leverage access to their 5 million strong and rapidly growing userbase. “We will soon be launching Taskbucks Pro, a premium version of Taskbucks where users can perform real-world tasks for brands, to earn more. 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.

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. Taskbucks will soon be adding crowdsourced tasks, surveys, opinion polls, offline photo tasks, and many other modules that will provide more variety and options for consumers and advertisers.

Taskbucks is targeting to cross 50 million downloads in the next two years, engaging millions of users with a variety of micro-tasks they can perform to earn supplemental income.

Edition: December 2016

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