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3:13 pm - Thursday December 16, 9582

Bharti Airtel acquires strategic stake in Juggernaut Books

Agencies, Mumbai

Telecom Major, Bharti Airtel said that it has through its wholly owned subsidiary Nettle Infrastructure investment limited,acquired a strategic stake in Juggernaut Books, a popular digital platform to discover and read high quality, affordable books and to submit amateur writing.

The investment is in line with the company’s endeavour to build an open content ecosystem and bring world-class digital content to its customers.

The investment from the company will enable Juggernaut to ramp up content acquisition and digital marketing and prepare for a subscription offering launch in the next few months, Bharti airtel said in filing with BSE. ‘’Juggernaut is an exciting digital platform and complements our content vision.

We look forward to working with them and supporting the next phase of their growth journey,’’ Badal Bagri, Chief Financial Officer, Bharti Airtel said.

Commenting on the fund raise, the founder and publisher Juggernaut Books, Chiki Sarkar said, ‘’We are excited to partner with Airtel in our journey ahead.Airtel has a great understanding of digital content consumption and we have much to learn and benefit from this strategic partnership’’.

‘’Our ambition is to get many more Indians to read and write and our partnership with Airtel will allow us to expand our distribution manifold,’’CEO, Simran Khara said. Juggernaut’s former investors include Infosys co-founder and current chairman, Nandan Nilekani and Boston Consulting Group India CEO Neeraj Aggarwal.

Posted in: Business

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