Asian News International reports parenting social network Tinystep has announced two million dollars in funding from ecommerce giant, Flipkart to advance their product, better the user experience and expand services.
The promising startup works in the sphere of pregnancy and parenting.
Flipkart is a seed investor of Tinystep according to reports from January, 2016. Later in September 2016, media reports circulated that Flipkart had invested around 1.5 million dollars through its Singapore headquartered subsidiary, Flipkart Logistics, and that it increased Flipkart’s stake in the parenting up over to over 47 percent.
Other notable investors are BabyCenter (the largest social network for this niche) founder Matt Glickman and IIFL Wealth’s founder CEO, Karan Bhagat.
Flipkart instilled its faith in Tinystep with two million dollars’ worth of funding as they saw potential in Tinystep’s product and traction. The app’s features continue to gain favour within the user base and outside, attracting more and more parents by the day, both expecting and new.
“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, we’re excited about what’s ahead and we can’t wait for parents all over the world to fall in love with everything we have planned,” said Suhail Abidi.
“Tinystep has a great team which has built strong community-focused features, including chat with trusted parents on the platform, one stop location to store and share all baby pictures etc, which all drive user adoption. We believe they are on their way to building a truly differentiated content-rich social network for parents. 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,” said VP Product at Flipkart and Tinystep board member, Ram Papatla.
The mother and baby care market is an astounding 50 billion dollar industry and continues to grow at an expeditious rate. The need for a tech product in this space is undeniable, a vertical social network that caters to the rising demand for information, trusted sources and the best of products and services.
_20241127165729_original_image_8.webp)
