Times Internet, the digital business run by India’s Times of India media group, has bought a majority (but undisclosed) stake in mobile-focused task marketplace Taskbucks for $15 million.
Taskbucks is an Android-only service that lets users “do interesting tasks on your
smartphone and earn bucks.” That translates to trying out new apps, new features within existing apps, completing surveys and really anything where feedback is sought. In exchange for giving up their time, users are rewarded with free credit for their phone, top-ups for mobile wallet services.
The move is part of Times Internet’s increasing focus on mobile money and personal finance services.
“These businesses see huge uptake from consumers as a means to sample products and in general, we are building strong offering sets around consumer value,” Satyan Gajwani, Times Internet CEO, told TechCrunch. “We [acquired coupon service] Coupondunia and [launched money management app] Smartspends, and Taskbucks now… there are one or two more things coming soon.”
“If we can give enough diversity and interesting tasks to the consumer with associated incentives, and some of those tasks would be helping you discover things you might not have found otherwise that you might enjoy, all in all it’s a win-win — for the consumer and the task-provider,” he explained.