New Delhi, March 26: India’s native social networking website Worldfloat has aforesaid its user base has crossed fifty million, which can help it challenge the dominance of world giants like Facebook.
According to Worldfloat founder Pushkar Mahatta, the user base of the positioning has up sharply in recent months on the rear of many innovative options like free on-line movies and news and computer programme facilities.
He aforesaid Worldfloat has users from across the world however the majority of them are from India.
Facebook has around 100 million users in India.
Mahatta aforesaid the Worldfloat user base has grown to fifty million in but 2 years once its June 2012 launch.
He claimed that Worldfloat’s user growth is way faster than Facebook and alternative social networking sites.
Mahatta found out that Worldfloat offers regarding 100,000 free on-line movies to look at at the press of a button, a news computer programme like Google news, a microorganism videos news platform with viral videos from everywhere the globe with most views and an internet university with laptop and faculty courses.
Worldfloat has many alternative options like jobs and comparison engine and facilities to look at worldwide trends in movies, stock markets and celebrities. These options don’t seem to be accessible on Facebook.
Mahatta aforesaid the positioning possesses attractive valuations on the rear of latest options and quick growing user base.
“Worldfloat received a final valuation of regarding $300 million from capital funds around a year back after we were about to sell ten % stake to lift capital for any enlargement of our technologies, however we decided to not do therefore,” he added.
“We will be adding nearly thirty new merchandise to Worldfloat within the next six months. After that, we expect to get a valuation of nearly $500 million,” he added.
Mahatta aforesaid the company plans products around $50 million by commerce a 10 % stake. the cash will be wont to fund the introduction of a lot of advanced technologies that cater to the wants of larger-scale operations.