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RockeTalk To Launch In South East Asia, Raise $10M In Funding

Corrigendum: We had incorrectly mentioned that RockeTalk plans to launch Africa first, instead of South East Asia.Our apologies for the error. Changes have been made to the article below – Editor

Mobile based social networking application RockeTalk plans to raise $10 million through a second round of VC funding over the next few months, reports The Hindu Business Line.

Speaking with MediaNama, RockeTalk CEO and Founder Rajiv Kumar said that the funding will be mainly utilized for infrastructure and product development; with the application (he claims) seeing an addition of 20% new users month over month, the platform requires more servers for storage and more bandwidth to cater to the expanding user base. Users upload over 2.5 lakh videos every day on RockeTalk servers, which is a bandwidth intensive. Besides procuring additional bandwidth and servers, the funding is also being raised for product development and geographical expansion.

Expansion Plans

RockeTalk has 4.6 million active (active during the last 30 days) users in India and 2.5 million in the overseas markets. It plans to launch in Indonesia, Malaysia, Philippines and the Middle East next, in the next 60 days. It is in talks with telecom operators and is customizing the application as per to local preferences. Following this, the company will launch in Africa.

The company claims that it is ahead of Facebook and Twitter in terms of mobile usage in India, citing reports from Informate’s survey. MediaNama readers should note that Informate surveys are based on a fairly small sample size, and may not be indicative of a broader trend.

RockeTalk’s iPhone application is available for download, and it is closing a deal to pre-embed its Android application with a handset manufacturer, post which the app will be available on the Android market. RockeTalk’s also intends to launch a desktop application in a month.

Prior Funding

Kumar declined to disclose how much funding the company had raised in the first, but said that they were funded by California based Mission Ventures (who had also funded his first venture Widcomm) along with two other Venture Capitalists – EDF Ventures and iSherpa. Kumar said that RockeTalk is talks with four prospective Venture Capitalists.

After opening up its API to developers, RockeTalk is monetizing the platform through revenue sharing pacts with partners who build apps on the platform. It had recently tied-up with Anagha communications to launch paid services with spiritual content. Kumar says that there are 40,000 users using the third party apps on the platform, from which RockeTalk gets 30% revenue share. RockeTalk isn’t profitable yet, but Kumar says that they should become profitable in six to eight months, but that is not certain, in case they decide to increase spends.

Rocketalk’s competitor mig33 had raised $8.9 million in third round funding from Indonesian and Japanese investors and had recently unveiled an Android application.

Related:

RockeTalk Opens Up API; Spiritual Content With Anagha
RockeTalk Partners With Indiatimes For Ad Sales & Mobile Content
Channel [V] Relaunches Site; Mobile SocialNet Deal With RockeTalk
Social Networking App RockeTalk To Be Pre-Loaded On LG Handsets
Mobile Social Networking Service mig33 Raises $8.9 Million From Strategic Investors
Mig33 Introduces Rev Share Plans For VAS, Handset Co’s In India; Partners Olive

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