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Reliance invests in US-based social networking company Pelago

Reliance Technology Ventures Limited, the corporate venture capital arm of Reliance ADA (Anil Dhirubhai Ambani) Group, has invested an undisclosed amount in US-based Pelago. Pelago has developed Whrrl, a mobile and web-based service at the intersection of social networking and local discovery.

Reliance Technology Ventures Limited, the corporate venture capital arm of Reliance ADA (Anil Dhirubhai Ambani) Group, has invested an undisclosed amount in US-based Pelago. Pelago has developed Whrrl, a mobile and web-based service at the intersection of social networking and local discovery.

Harshal Shah, CEO, RTVL, has said, “Pelago offer consumers and advertisers a unique proposition by combining local search and discovery with an underlying social networking flavour. While it offers consumers to discover, rate and review places and events, Pelago also enables advertisers to get better ROI (return on investment) through its highly precise location based advertising platform.”

The Whrrl service catalogues peoples’ activities, chronicling an individual’s history of places visited and events attended through icons pinpointed on Whrrl’s built-in mapping application. Whrrl users and their friends can then rate, review, and comment on these places and events.

Jeff Holden, CEO, Pelago, has said, “Whrrl allows you to discover the world through the eyes of your friends and other people you trust. In this way, it makes a person’s social network valuable in a completely new way.”

Other investors in Pelago include Kleiner Perkins Caufield & Byers (KPCB), Bezos Expeditions (which manages personal investments of Jeff Bezos, founder and ex-CEO of Amazon), T-Ventures, DAG Ventures and Trilogy Equity Partners.

Reliance Technology Ventures Limited, a wholly-owned subsidiary of Reliance Capital, has also invested in online travel company Yatra.com. RTVL was launched in 2006 with an investment mandate to incubate new business ideas and invest in emerging and high-growth technologies.

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