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Tiger World in talks to invest in young Indian social network at $170M valuation

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Tiger World in talks to invest in young Indian social network at $170M valuation

Who says there could be not one of these thing as a room for a brand unique social network?

Early Newspaper

Tiger World is in developed stages of talks to lead a round of $15 million to $20 million in seven-month-extinct Kutumb that values the Indian startup at about $170 million, four other individuals aware of the matter told TechCrunch.

The American investment company has equipped a termsheet to the Indian startup nonetheless the deal — a Assortment A — has not closed yet, about a of the opposite individuals stated on the condition of anonymity as the talks are private. Ordinary caveat: Phrases also can alternate, or the deal also can’t materialize.

Kutumb, which methodology family in Hindi, has constructed a “private social network bask in Reddit” that connects communities according to “custom, creed, beliefs, interests, [and] professions.”

The startup’s eponymous six-month-extinct app has gathered over 11 million monthly attractive customers, up from about 550,000 in December ultimate year, according to cellular insight company App Annie (data of which an industry govt shared with TechCrunch).

Kutumb was as soon as valued at about $15 million late ultimate year when it raised funds from Sequoia Capital India’s Surge accelerator. It raised about $2.5 million in its seed financing round, according to insight company Tracxn.

Tiger World declined to observation. Certainly almost definitely the most co-founders of Kutumb didn’t respond to a matter for observation.

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Tiger World in talks to invest in young Indian social network at $170M valuation