LoudShout raises funds from Shopclues co-founder, others
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Mumbai: ArRvee idealabs technologies Pvt. Ltd, which operates the LoudShout mobile app, said on Tuesday that it has raised an undisclosed amount of funding from ShopClues co-founder Sanjay Sethi, Ravi Jaipuria (owner of Devyani Foods and Varun Beverages) and a Hong Kong-based investment banker.
The company that provides technology for social messaging and engagement for college students was founded in 2015 by Abhinav Singhal and Amit Vaish. It is looking to improve its technology, launch the app for iOS users, increase the product features and expand the user base.
India has the largest youth population in the world with 48% of Indian smartphone users between the age of 18-25, according to company estimates.
“The products are hyper local consumer focussed mobile only platforms addressing everyday issues in consumer’s life. Most of the internet consumption is mobility driven within a community and this app does away with the necessity of following, or knowing a person in order to start getting content from them. Unlike other social mediums where your message is relayed across users for whom it might not be relevant, the app allows live conversation in a community,” said Vaish.
The app is an easy to use GPS-based mobile solution which allows user to login through their phone number. The communication through feeds allows user to broadcast a message within a range of 5km. The flow and relevance of content is determined by the user’s campus.
LoudShout is currently available for 70 campuses on invitation only basis.