Earn Talktime, a crowdsourcing platform incubated in India, is now the largest player providing ad-funded virtual currency to India’s early adopter segment.
“Launched in 2013 by RationalHeads Technologies, a fast growing Indian tech start-up, Earn Talktime till date has dispersed virtual currency worth over 50 crore rupees and empowered 13 million youth in India to earn money in their mobile wallet by discovering and engaging with mobile applications and brands,” according to a news release shared with MMW.
Its growth rate of 110 percent in 2015-16 means Earn Talktime has captured 40 percent market share of the mobile advertising ad-funded wallet industry.
Now the company hopes to grow at 50 percent YOY for the next three years, as well as add new products and expand outside of India.
“Data and telecom cost takes 15 percent of a user’s share of wallet in India,” said Sandeep Mirakhur, Co-Founder and CEO at RationalHeads Technologies. “It is also the biggest inhibitor to mobile app adoption by users especially the early adopters like the youth. We wanted to help subsidise the spending costs of the youth and hence launched Earn Talktime in India 18 months back. We have empowered this category of users with additional purchasing power in the form of virtual currency which can be easily earned by engaging with mobile applications and by performing actions within Earn Talktime.”
Interestingly, students represent 73 percent of the Earn Talktime user base.
“With 85 percent of Earn Talktime subscriber base below 25 years of age, the company is currently driving over 10 million mobile app installs and brand engagements for its advertising partners every month,” the statement concludes.
“Consumer brands have been figuring out new ways to engage with early adopters who were scattered across traditional and digital platforms,” said Sandeep. “Earn Talktime is enabling brands to create virtual experience zones that allows sampling of mobile applications by potential users without worrying about mobile data usage or cost.”
