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Wireless - Tuesday, October 14, 2008

India's Webaroo Goes With $11M For Group Texting

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Webaroo has raised $11M in a 1st-round from Charles River Ventures and Helion Venture Partners. Founded in April 2007, Webaroo's GupShup has grown to 12M unique users. The concept is to send and pay for a text SMS to a large group of friends. It sounds like it should take off but it also sounds hard to believe that one company could dominate it. Thus it makes sense that they raised a large round to try to make hay now. Initially launched in India, GupShup says it will later be available in other geographies.

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