India’s largest media giant, The Times Group, has invested in blockchain startup Ponder. The amount of investment is undisclosed, but Ponder is a platform aimed at finding referrals.
It seems that day-by-day Indian enterprises are also realizing the importance of blockchain. Just recently we had heard that Reliance Industries headed by Mukesh Ambani has acquired stake in an overseas blockchain firm, and now we’re hearing that media giant Times Group has also done the same. However, Times Group’s stake is in an Indian venture instead of a foreign one. The beneficiary startup is Ponder, a blockchain-based referral platform that aims to make finding high-quality referrals easier with help of blockchain.
The news was broken by none other than Ponder itself. The company said in a statement that the investment of Times Group will help it in launching its services for Indian market by leveraging the media assets of Times Group. Company’s Co-Founder and CEO Manshu Agarwal said:
“This exciting alliance represents a unique opportunity to rapidly scale the Ponder referrals on the platform. This investment will assist and accelerate Ponder’s growth, both in the Indian market and overseas.”
Times Group has invested in the company through one of its subsidiaries, Brand Capital. This subsidiary is basically the investment arm of Times Group, and given below is what its CEO Mr. Sam Subramaniam had to say about the investment:
“We constantly strive to identify innovation that will impact key vertical sectors and new category of business besides backing new entrepreneurs and their ideas. We see the Ponder platform as a means for ‘scalable human intervention’ on a truly global scale!”
Currently Ponder is developing an app that can help employers in recruitment processes by referring candidates of higher quality. The use of blockchain in the app is to ensure the security of user identity and data security. However, it’s not just job market that is being targeted by Ponder. The company wants to make finding referrals easier for everything – business, education and even romance!
The Times Group is India’s largest media house and publisher of popular newspapers Times of India (ToI), Navbharat Times and The Economic Times. It also publishes popular local newspapers like Mumbai Mirror, Pune Mirror and Bangalore Mirror. And it’s also the broadcaster of popular news channels Times Now, Mirror Now and ET Now. It also has presence in internet landscape of India with popular music streaming service Gaana.com and sports platform CricBuzz. So after its investment in Ponder it will be very interesting to see which other markets are tapped next by this platform.