Bharti AirtelBSE 0.97 % has acquired a stake in Juggernaut Books, a digital platform to discover and read books and submit amateur writing, as India’s leading telecom operator looks to beef up its content play to take on Reliance Jio Infocomm.
“The investment is in line with Airtel’s endeavour to build an open content ecosystem and bring world-class digital content to its customers,” the company said in a statement on Monday, without disclosing the amount invested and the stake acquired.
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.
The platform, that was launched in April 2016, has close to one million downloads across Android and iOS operating systems.
Source: Economic Times