Bubbly Finds Its Voice: Altruist Acquires The Social Media App

Bubbly Finds Its Voice: Altruist Acquires The Social Media App

Mobile social media networking solutions company Altruist has clearly played the good Samaritan for pecuniary gains. Altruist has acquired social media app Bubbly after the latter sent out distress signals due to near liquidation prospects. Bubbly is also known as the Twitter of the voice-based social media. But this Singapore origin voice-based social media app was rescued in the nick of time by Altruist.

So, what's in it for the good Samaritan? The deal leads to the addition of around 40 million plus users across the Middle East and Asia. There are another 140 million plus BubbleTalk users across India and Asia which are also going to fall into Altruist's bag.

Bubbly once known as Bubble Motion has some of the world's topmost investors placing their confidence in it such as Palomar Ventures, Comcast Ventures, Sequoia Capital, JAFCO Asia and SingTel Innov8. But the bubble broke when the social media app incurred losses and investors were even considering closing the firm. But Altruist became the rescuer and the investors will now be minority shareholders in the new entity.

Bubbly began as a voice messaging app and it branched out into a social network in 2012 hosting celebs and exclusive content owners. Altruist commenced operations in the year 2005 and it operates within the rapidly expanding mobile social networking market in India as well as Indonesia and Nigeria.

Altruist is currently running a voice-based mobile social network. Apart from this, it also runs some other mainstream mobile services for markets which have a scope to grow. Such services include the widely used JobsOnPhone.

Bubbly is oriented towards being the next Twitter or instagram. Thanks to such apps, hearing voices and finding your own has become a fun-filled process. There had been a series of potential acquisition bids. But it was a Alltruist that had a solid offer.

Atruist is a Chandigarh based company and it has stood firm on its commitments for preventing the sparkle from going out of Bubbly. Altruist has a presence in various markets in Asia, Africa as well as Europe. The deal will now add more than just numbers to Altruist's game.

But Altruist Technologies is being more than altruistic in snapping up Bubbly. The app will complement the 80 million Altruist users across the voice platform business in Africa as well as Europe. Workforce for boh the companies will now join hands and relocate to either India or Indonesia to work for the combined entity.

With voice based social media catching on big in recent times, Altruist will find its cup of joy overflowing as Bubbly adds to the spirit and energy of the company. The growing mobile social networking space just got more lively with Bubbly set to join Altruist in a new voice venture that will surely find users from across the world queuing up to be heard.