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Brand Capital, the strategic investment arm of BCCL – India's largest media group, has acquired a stake in Ponder, a blockchain-based referral platform.
Ponder aims to simplify and make it enjoyable to make and find referrals. Where a referral leads to success, the person making the referral is financially rewarded. It is currently working on an app intended for recruitment purposes which would provide employers a way to source more high-quality referred candidates.
The platform uses blockchain technology to create secure matchmaking communities and ensure data and identity are protected.
According to the official release, the investment will help the startup launch into the Indian market and leverage BCCL’s media assets in order to build a robust community of users, increasing engagement on the Ponder platform for different verticals of referrals – recruitment, new customers & romance.
“This exciting alliance represents a unique opportunity to rapidly scale the Ponder referrals on the platform” said Manshu Agarwal, Co-Founder and CEO of Ponder. This investment will assist and accelerate Ponder’s growth, both in the Indian market and overseas.”
Also known as the Times Group, BCCL is the publisher of leading newspapers in India such as The Times of India, The Economic Times and Navbharat Times.
“We constantly strive to identify innovation that will impact key vertical sectors and new category of business besides backing new entrepreneurs and their ideas. We see the Ponder platform as a means for ‘scalable human intervention’ on a truly global scale!” said Mr. Sam Subramaniam, CEO, Brand Capital.
