Airtel today announced that it has acquired stake in Juggernaut, which is a digital platform to read high-quality books and also submit your writings. Airtel’s move comes in a bid to create to build an open content ecosystem and the investment from Airtel will help Juggernaut to ramp up content acquisition, digital marketing and prepare for a subscription offering that is set to launch in the next few months.
Juggernaut which was launched back in 2016 has close to 1 million downloads across Android and iOS, and in 2017 the company has opened up its platform for amateur writers to publish their content and even offer publishing contracts for the winners. In the past six months, the company has received 500 stories out of which nine of them securing publishing contracts.
Commenting on the occasion, Badal Bagri, Chief Financial Officer, Bharti Airtel said:
Juggernaut is an exciting digital platform and complements our content vision. We look forward to working with them and supporting the next phase of their growth journey.
Speaking of the fundraiser, the founder & publisher, Chiki Sarkar, Juggernaut Books said:
We are excited to partner with Airtel in our journey ahead. Airtel has a great understanding of digital content consumption and we have much to learn and benefit from this strategic partnership.
Simran Khara, CEO, Juggernaut Books, said:
Our ambition is to get many more Indians to read and write, and our partnership with Airtel will allow us to expand our distribution manifold.