Times Internet, a digital products firm and subsidiary of Times of India Group has invested $15 million in Taskbucks, a mobile-only tasks marketplace along with purchasing a major stake in the company.
Founded in 2014, Taskbucks is Android only tasks marketplace that matches consumers with brands and enterprises on its unique platform. Companies offer tasks to consumers, who are rewarded for completing these micro tasks, through the Taskbucks marketplace. In a year’s time the app downloads has reached 5 million which the company claims to add more than 1 million new users every month. The app now offers brands the option for app discovery, user retention, referral tasks, offer signups and social content sharing, as promotions that they can offer consumers.
Kumar Apurva, founder & CEO of Taskbucks said, “We intend to use this funding to build out more ways for companies to leverage access to our 5 million strong and rapidly growing user base. We will soon be launching Taskbucks Pro, a premium version of Taskbucks where users can perform real-worl tasks for brands, to earn more. We will also be working closely with Times Internet to build our brand and drive growth of our mobile app.”
Taskbucks soon plans to add crowdsourced tasks, surveys, opinion polls, offline photo tasks and many other modules that will offer more array of options for consumers and advertisers to choose from.
Miten Sampat, VP Corporate Development, Times Internet said, “Taskbucks is reducing friction in the connection between consumers and companies, in a way that drives value for both. As hundreds of millions of Indians get connected with smartphones, Taskbucks is one of the few services that has an immediate and clear value proposition for the consumer. Led by a strong, experienced team, I’m confident Taskbucks will add value to millions of Indian consumers.”
In the next two years, Taskbucks is working to cross 50 million downloads , entertaining millions of users with a range of tasks they can do to earn supplemental income.