1.11 % stake in Juggernaut Books has been acquired by Bharti Airtel BSE. Juggernaut Books is a digital platform to read and discover books and submit amateur writing. Bharti Airtel BSE is one of India’s leading telecom operator and with this acquisition it looks to beef up its content play to take on Reliance Jio Infocomm.
Without disclosing the stake acquired and the amount invested, the company gave out a statement on Monday which said, “The investment is in line with Airtel’s endeavor to build an open content ecosystem and bring world-class digital content to its customers.”
It said that the investment will enable Juggernaut Books to ramp up content acquisition and digital marketing, and prepare to launch a subscription offering in the next few months.
Juggernaut Books, was launched in April 2016, has almost 1 million downloads across iOS and Android operating systems.