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Steelbird forays into tech space; launches social networking app

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Business Finance

Press Trust of India  |  New Delhi 

Steelbird Group, which has presence across various verticals including helmet manufacturing and entertainment, Wednesday announced its foray into the technology space with the launch of a social networking application.

The company said its app 'Steelbird Connect - Share & Earn' lets users earn as well in addition to networking and socialising.

"Having made a mark in different spheres, technology is another vertical that we have been eyeing for a while. To begin with, Steelbird has come up with a social media platform which is unique, easy and mobile operated.

"This platform will basically provide a quick mode to make content viral," Steelbird Group MD Rajeev Kapur told reporters here.

The core idea behind this development is using technology and internet to speed up business and reward the end users, a feature not present in any other social media platform yet, he added.

The app, which runs on both android and ios, lets users accumulate points which then can be redeemed for shopping at Steelbird Connect Share & Earn shopping mall which has over 10,000 product listings.

"Users can shop all day-to-day items by just sharing the sponsored posts," Kapur said.

Bullish over the growth of digital advertising spends in the country, Kapur said the company with even one per cent of market share could end up with revenues of around Rs 100 crore from the new vertical.

"The increasing affordability of smartphones and low data consumption costs have given a huge fillip to this sector. Steelbird has anticipated that its new tech vertical will capture minimum 1 per cent of market share in next couple of months and business transactions will exceed Rs 100 crore per year," he said.

The Steelbird Connect app has already crossed 2 lakh downloads and expects a 10-fold growth over the next two months, Kapur said.

The app will also provide an instant and quick viral road map to all brands, multi-national companies, bloggers, celebrities, singers and other artists, he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, March 13 2019. 15:50 IST
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