Social media messaging platform WhatsApp will invest in Indian startup ecosystem. The Facebook-owned WhatsApp has informed this on Monday.
WhatsApp has informed that it will invest $250,000 worth ad credits into the Indian startup ecosystem to help entrepreneurs better connect with customers and grow businesses.
The investment will provide 500 startups approved by the Department of Industrial Policy and Promotion (DPIIT) with $500 each of Facebook ad credits.
With the credits, startups can create ads that invite customers to click to open a chat on WhatsApp so they can deepen connections and increase sales, the company said in a statement.
n order to be eligible, startups must be at an early traction or scalable stage and must be recognized by DPIIT. Selection will be on first-come-first-serve basis and once registered, the first 500 entries will receive free Facebook ad credits worth $500, said WhatsApp.
Currently, one million businesses in India are actively using the WhatsApp Business app to have meaningful conversation with their customers. Globally, five million businesses are using WhatsApp for the same purpose.