Public App Raises $41 Million - Indian Social Network Growth

Public App Secures $41 Million to Fuel Expansion

Public App, a social network centered around location-based connections, has successfully raised $41 million in a recent funding round. This investment arrives only six months following a $35 million raise, as the Indian startup focuses on strengthening its position within the world’s second-largest internet market.

Valuation and Investors

A91 Partners spearheaded the latest funding round for Public App, resulting in a valuation exceeding $250 million – more than double its previous valuation. The company, which also manages the popular news aggregator InShorts, confirmed participation from existing investors, though their identities were not disclosed.

Notable investors in Public App include Addition (led by Lee Fixel), SIG, and Tanglin Venture Partners. The specific designation of this funding round was not revealed by the startup.

Growth and User Base

Azhar Iqubal, founder and CEO of Public App, stated that the platform has already surpassed 50 million users. Future plans include expanding the network’s reach beyond India’s borders.

Launched in April 2019, the app has gained traction with a diverse range of users. This includes politicians, as well as major corporations like Amazon, HDFC Bank, and GSK, all leveraging Public App to connect with their target audiences.

A91 Partners’ Perspective

Gautam Mago, General Partner at A91 Partners, commented on the investment. He expressed confidence in Public App’s ability to maintain strong user retention and engagement while scaling its operations. A91 Partners looks forward to collaborating closely with the founders to foster the company’s continued growth.

Multilingual Support and Local Focus

Public App is accessible in numerous major Indian languages. These include Hindi, Bengali, Punjabi, Telugu, Tamil, Kannada, Malayalam, Odia, Assamese, Gujarati, and Marathi.

The platform facilitates e-commerce and local hiring for shop owners and businesses. It also provides a channel for political leaders, government bodies, and media outlets to engage with local communities.

App Usage and Content Creation

Over 50,000 elected officials, government authorities, and citizen journalists are currently utilizing the app to connect with their constituencies. Furthermore, a growing number of local businesses are employing Public App to reach their customer base.

The app offers both entertainment and news content, and currently sees over 1 million videos created monthly by its users.

Future Plans

The newly acquired capital will be allocated to enhancing the platform’s technological infrastructure, diversifying its content offerings, and expanding its team through strategic hiring.

Competitive Landscape

Despite a previously perceived crowded market, several Indian startups have entered the social networking arena in recent years. Kutumb, a relatively new startup established just eight months ago, is reportedly in discussions with Tiger Global to secure funding at a valuation of approximately $170 million, as reported by TechCrunch earlier this month.