Twitter acquired ZipDial, a missed-call marketing platform, which is also the first-ever acquisition of an Indian company by the San Francisco-based micro-blogging company.
The Bangalore-based company has been valued at $30-$40mn, about 185-247 crore. However, no official figures have been stated.
Twitter vice president Christian Oestlien said, "Over the next several years, billions of people will come online for the first time in countries like Brazil, India and Indonesia. For many, their first online experience will be on a mobile device - but the cost of data may prevent them from experiencing the true power of the Internet. Twitter, in partnership with ZipDial, can make great content more accessible to everyone."
ZipDial connects brands with their relevant target audience by leaving a missed call. India has more than ₹90 crore mobile phone users, including multiple phone users, for whom the device has acted as a leveller of economic parity.
ZipDial's innovative platform has seen robust usage across South Asia, South East Asia and Africa. The deal with Twitter will help ZipDial expand globally, Valarie Wagoner, Founder and CEO of ZipDial told India Today.
The deal also sees Twitter setting up an engineering team in India, a first for the US-based company.