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SMSGupShup Launches AppShup_ A Way for Developers to Create and

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					                   SMS GupShup Secures $12Million Additional Funding
                   India’s Largest Social Network Plans Global Expansion

  Latest round led by Globespan Capital Partners and includes follow-on reinvestment
                 from Charles River Ventures & Helion Venture Partners

Santa Clara, CA/Mumbai, India (January 20, 2010) SMS GupShup, India’s largest social
network, announces today that they have closed funding for a $12 million round led by
Globespan Capital Partners and additional financing from existing investors Charles River
Ventures and Helion Venture Partners.

This funding will allow SMS GupShup to expand into new territories, and to roll out new features
such as Mobile CRM solutions for small businesses and corporate brands. As one of the fastest
growing ad-supported mobile communities in the world, SMS GupShup already enjoys a larger
market share of users in India than any other online or mobile social networking site. The
company also offers reply-all group messaging service in partnership with mobile carriers. The
company is now poised to expand globally, starting with emerging markets that have high
mobile adoption.

Launched in April 2007, SMS GupShup now serves 26 million users in over 2 million
communities – double the number of communities supported just six months ago. These
communities range from religious groups to sports teams to celebrities. Whether it’s daily
poems, traffic reports or tribal news, GupShup is the centerpiece of connectivity in India. Over
100 advertisers currently run on the network including local insurance provider ICICI Lombard
and international brands like Puma, Microsoft and Cadbury.

The company is growing at a rapid pace and now accounts for 5% of all text messages sent in
India. Earlier this year, the company inked a deal with Facebook to enable Indian Facebook
users to go mobile.

The mobile subscriber base in 2013 is set to exceed 771 million in India, according to Gartner
Inc, and 5.8 billion globally, according to Portio Research.

Co-founder and chief executive Beerud Sheth says, “Our user base and revenues have grown
substantially over the last year and we are also seeing strong interest from carriers worldwide.
We expect to use the proceeds from this funding round to accelerate our growth and expand our
operations globally, to make our products useful to each of the 4 billion mobile subscribers
worldwide”.

To date, SMS GupShup has raised $37million in funding and is now aggressively hiring. In only
the past two months the service has increased its team headcount from 100 to 130 and is
looking to fill another 20 positions in marketing, engineering and advertising sales.
Venky Ganesan, Managing Director, Globespan Capital said, “SMS GupShup is bringing social
messaging to the mobile masses. It is on track to be the next big global, social, mobile play. We
are excited to be joining forces with this team to get billions of users to start ‘gupshupping’.”

“Since we last invested, SMS GupShup has shown huge growth in number of users and
revenues” said Devdutt Yellurkar of Charles River Ventures. “We’re excited to re-invest again to
help the business realize its global potential as the social messaging solution for the masses,”
added Ashish Gupta of Helion Venture Partners.

As part of this funding round, Venky Ganesan, Managing Director of Globespan Capital
Partners, will join the SMS GupShup Board of Directors, which currently comprises of Devdutt
Yellurkar (Charles River Ventures), Ashish Gupta (Helion Venture Partners), Jeff Hussey
(Founder of F5 Networks, Inc.), Rakesh Mathur (Co-founder and Chairman of the Board) and
Beerud Sheth (Co-founder and Chief Executive Officer).

About SMS GupShup
SMS GupShup is the world’s largest social SMS service that allows users to communicate and
connect with family, friends and fans using mobile handsets. SMS GupShup extends the
capabilities of p2p sms technology to social messaging including 1-to-many, many-to-many and
many-to-1 communication, thereby enabling social interactions on sms, the only medium that
reaches 4 billion users worldwide. Launched in April 2007, it is used by 26 million users in over
2 million communities.

About Globespan Capital Partners
Globespan Capital Partners is a leading global venture capital firm with over $1 Billion under
active management. Globespan takes a balanced approach to investing with multi-stage
investments in information technology and cleantech companies. Our investment team has a
proven track record based on partnering with management teams to build strong, successful
companies. We have significant experience and relationships in Asia which allows us to provide
our portfolio companies access to global markets. With offices in Boston, Palo Alto and Tokyo,
we invest in companies all across the U.S. and in Japan on behalf of a global base of limited
partners. More information about Globespan Capital Partners is located online
at www.globespancapital.com.

About Charles River Ventures
Founded in 1970, Charles River Ventures is one of the nation’s oldest and most successful
early-stage venture capital firms with approximately $2.1 billion under management. CRV is
dedicated to helping exceptional entrepreneurs turn their ideas into the next category leaders in
high growth technology and media sectors. Over the past 10 years, CRV funds have been
ranked among the industry’s top performers. CRV has offices in Boston, MA and Menlo Park,
CA. For more information, visit www.crv.com.

About Helion Venture Partners
Helion Venture Partners is a multi-stage, India-focused venture fund with $350 million under
management. The fund invests in businesses that are either technology-powered or catering to
the Indian consumer services space. The focus sectors of investment include - outsourcing,
internet, mobile, technology products, retail services, education and financial services. The
fund’s investors are well-respected Global institutions including top tier University endowment
funds, Foundations and family offices. The fund and its portfolio companies are advised by an
experienced and industry renowned team of professionals based in India which include Sanjeev
Aggarwal, Ashish Gupta, Kanwaljit Singh and Rahul Chandra. For more information visit
http://helionvc.com/


CONTACT:
Angela Morris
415.686.0568 / angela@vscconsulting.com
VSC PR for SMS GupShup

				
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