<article>Singapore-based voice sharing social media app, <a style="color: #000080;" href="http://croak.it" target="_blank">Croak.It</a>, was acquired by Bangalore-based cloud telephony startup Exotel, their first overseas acquisition. As of now, details of the deal are undisclosed.</article>

Singapore-based voice sharing social media app, <a style="color: #000080;" href="http://croak.it" target="_blank">Croak.It</a>, was acquired by Bangalore-based cloud telephony startup Exotel, their first overseas acquisition. As of now, details of the deal are undisclosed.
Following this acquisition, the co-founders of Croak.It, IIT Kharagpur graduates <a href="https://twitter.com/protik" target="_blank">Protik Roychowdhury</a> and <a style="color: #000080;" href="https://twitter.com/nsteja1" target="_blank">Srinivasa Teja</a>, the duo will now join Exotel. Incorporated in 2012, the Croak.It founders are in the midst of developing an Android app for their product, which allows users to socialise using voice clips lasting 30 seconds.
Croak.it! allows users to share their thoughts and emotions via voice. Croak.It grants some anonymity, using voices uploaded anonymously for socialising. Incubated at <a style="color: #000080;" href="http://www.iaccelerator.in" target="_blank">iAccelerator</a>, the site has over a million recordings and claims to clock 25+ hours of audio daily.
Shivkumar Ganesan, Exotel’s CEO, stated “There was an obvious synergy between our long-term vision for Exotel and what Croak.it! has been doing, and technologically, there was a good overlap in the nature of the problem we were solving. Voice will continue to remain at the center of most business communications and there is a whole lot we can do to make this medium better.&#8221;
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Through Q4 2014, Croak.It focused on user acquisition efforts focused on 200 schools located across the US, France, the UK, and Iceland.  The venture had also received funding from <a href="http://www.pixvc.com" target="_blank">Pix Vine Capital</a>, a VC firm operating across Israel, India, Singapore and Southeast Asia.
Launched as a classified business, Exotel later pivoted into cloud telephony business products, with features like marketing tools, call recording and analytics. With more than 600 customers, amongst them Olacabs, redBus and Uber, Exotel clocked revenues worth S$1.09 million for FY 2014.
Exotel is aiming to grow revenues up towards the S$40 million over the next few years, along with further acquisitions. Backed by Mumbai Angels and Blume Ventures, which jointly invested R2.5Cr in Series A round in 2012, its last valuation placed Exotel at S$2.2 million.
Exotel currently competes with Sequoia-backed Knowlarity and Hyderabad-based KooKoo in the cloud telephony space. However, the space has seen consolidation in recent times, as Knowlarity Communications recently acquired Unicom Techlabs, which manages leads via a virtual receptionist, for an undisclosed amount in January 2014.
Karthik Reddy, the Managing Partner of Blume, who are the lead investors in Exotel,  commented, “I’m happy to see that the Croak.it! team and Exotel team had a great match in philosophy and culture, and the team can add to Exotel’s ambitions to become a leader in this area.”
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Singapore-based voice sharing social media app, Croak.It, was acquired by Bangalore-based cloud telephony startup Exotel, their first overseas acquisition.



Croak.It acquired by Bangalore-based Exotel

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Croak.It acquired by Bangalore-based Exotel

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