Flipkart invests $2 million in parenting social network Tinystep
Tinystep, a parenting social network platform, on Tuesday said it has received $2 million (Rs 13.31 crore) in funding from e-commerce giant, Flipkart.
With the funding, the startup plans to advance its products, improve user experience and expand on services, Tinystep said in a statement.
"It has been a nail biting year. We've grown as a product, as a team and have learnt to now focus our energies on the new revenue model. Flipkart has been a great partner and supportive of us in all our endeavours," Tinystep founder Suhail Abidi said.
Ram Papatla, Vice President Product at Flipkart and Tinystep board member said "Baby care is an important category for Flipkart and the investment in Tinystep will enable Flipkart to leverage Tinystep's strong user community to build a network of influencers".
The mother and baby care market is a $50 billion dollar (nearly Rs 3,32,637.5 crore) industry and continues to grow at an strong rate.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.