Bharti Airtel Acquires Strategic Stake In Juggernaut Books
Bharti Airtel ("Airtel"), India's largest telecommunications service provider said that it has, through its wholly-owned subsidiary Nettle Infrastructure Investments Limited. ("Nettle"), acquired a strategic equity stake in Juggernaut Books ("Juggernaut"), a popular digital platform to discover and read high quality, affordable books and to submit amateur writing.
The investment is in line with Airtel's endeavour to build an open content ecosystem and bring world-class digital content to its customers. The investment from Airtel (through Nettle) will enable Juggernaut to ramp up content acquisition, digital marketing and prepare for a subscription offering launch in the next few months.
Juggernaut's former investors include Infosys co-founder and current chairman, Nandan Nilekani and Boston Consulting Group India CEO Neeraj Aggarwal. Launched in April 2016, the platform has close to 1 million downloads across android and ioS. In May 2017, the writer's platform went live to offer amateur writers the ability to digitally publish their content and stand a chance to win publishing contracts. The writer's platform in the past six months has received just under 500 stories with 9 of them securing publishing contracts.