Fintech startup Cleartax acqui-hires an audio streaming space Dose FM for undisclosed amount

Fintech startup Cleartax acqui-hires an audio streaming space Dose FM for undisclosed amount
Image credit: Yourstory

Dose FM, an audio streaming space, has been taken over by a fintech startup Cleartax, for an undisclosed amount, reported ET.

Post acquisition, Cleartax will consume a four-member team of Dose FM.

“While their core product was in a separate domain, we will leverage the team’s technical know-how on developing a recommendation engine, local language capabilities, and a few others,” said Archit Gupta, CEO of Cleartax.

Cleartax was co-founded by Archit Gupta, Ram Gupta, Srivatsan Chari and Ankit Solanki in 2011. The platform Cleartax gives a scope of services to its users including tax preparation, e-filing, accounting and investment planning solutions for peers and businesses.

Dose FM, on the other hand, was founded in 2018 by Damodara, Akhil Appanna, and Rishabh Harit. The space Dose FM enables its users to create and share audio clips and shows over a range of interests.

Gupta further said that the company is getting huge demand from smaller cities and towns, where it will use the learnings of the Dose FM team to build capabilities on the smartphone.

“They have worked very closely in those areas and have a strong understanding of their customer base,” he added.

Presently, Dose FM provides a reality audio creation tool for users that helps them interact with listeners and co-host shows with friends.

Dose FM claims to have over 30,000 active listeners and 10,000 creators. While, as per Cleartax, it is used by over 5 million Indian taxpayers to e-file their tax returns.

LEAVE A REPLY

Please enter your comment!
Please enter your name here