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Bubbly getting acquired by Indian mobile VAS company Altruist Group

Singapore-based social voice messaging company Bubbly (formerly known as Bubble Motion) has been acquired for an undisclosed amount by India-based mobile VAS company Altruist Group, reports TechInAsia. Last week, TechInAsia had reported that it had learnt from sources that Bubbly was on the verge of liquidation, after a few acquisitions deals failed to work out. Also, it seems Bubbly had carried out the due diligence process a number of times in the past nine months, anticipating acquisitions. This deal will add the 40 million registered users Bubbly, which was first launched in February 2010, has across Asia and the Middle East, plus the 140 million users (claimed) of the SMS-based BubbleTalk service across India and the rest of Asia to Altruist’s portfolio of voice-based services. Bubbly CEO Thomas Clayton told the publication that most of its employees will move to India or Indonesia, as part of the deal. Bubbly’s existing investors are expected to continue as minority stakeholders in the new combined entity. Bubbly in India Bubbly allows users to record short voice updates, which can be shared within their network. Users can also follow celebrities and other users of the platform. Users receive SMS alerts every time someone they follow posts an update. In the first week of its launch in India, Bubbly claimed to have registered 150,000 users in the country. The company claimed to have over 19 million users in India (as of August 2012). Bubbly funding timeline -Since September 2006, Bubbly has raised over $40 million…

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