Competition Global in talks to within young Indian social network to $170M valuation

Who says there is no room for their new social network?

Tiger Global is in evolved stages of talks to live a round of $15 million to $20 k in seven-month-old Kutumb that the majority of values the Indian easier at about $170 million, 5 people familiar with the matter asked TechCrunch.

One particular American investment firm comes with offered a termsheet for your Indian startup but the discount — a Series A — has not closed yet, some of the people said on the condition of being anonymous as the talks are allure. Usual caveat: Terms may very well change, or the deal cannot materialize.

Kutumb , which means family throughout Hindi, has built a “private social network like Reddit” regarding connects communities based on “culture, creed, beliefs, interests, [and] professions. ”

The startup’s eponymous six-month-old app also has amassed over 11 k monthly active users, back up from about 550, 500 in December last year, according to commutable insight firm App Annie (data of which an industry state shared with TechCrunch. )

Kutumb was valued at about $15 million behind last year when it raised just like from Sequoia Capital India’s Surge accelerator. It exalted about $2. 5 thousand thousand in its seed financing coup, according to insight firm Tracxn.

Tiger International declined to comment. Several co-founders of Kutumb did not respond to a request for hein.

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