Indian ecommerce firm Flipkart has teamed up with local audio streaming startup Pocket FM to break into the audiobook sector, The Economic Times reported.
Pocket FM says it has 15 million monthly active listeners who spend “an average of over 100 minutes every day” on the app. Meanwhile, the platform’s total monthly audio streaming has hit over 3 billion minutes.
Founded in 2018 by Rohan Nayak, Prateek Dixit, and Nishanth Srivinas, the firm has raised US$93.6 million over five rounds. Since its audiobook feature was introduced in March 2022, Pocket FM has sold more than 120,000 audiobooks per month and provides content in various local dialects.
Established in 2007 by Binny Bansal and Sachin Bansal, Flipkart started out by selling printed books online. Since then, it has expanded to offer electronics, home goods, groceries, and fashion items, among other products. With a US$37.6 billion valuation, the Walmart-owned firm has grown to become one of India’s biggest ecommerce marketplaces.
See also: Gojek-backed audio firm plays cashy tune
Editing by Samreen Ahmad and Joy Tirkey
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