Homegrown social networking site Worldfloat expects its user base to increase to 20 million by next month helped by unique features such as games which helps one earn money.
At present, the networking site, which claims to receive about a lakh sign-ups everyday, has 16 million users in over 60 countries with India making up for almost 80 per cent of users.
“Since we started in June last year, we have received a tremendous response from users. So far this month 16 million have signed-in and we expect to clock 20 million by August-end,” Worldfloat founder Pushkar Mahatta told PTI.
One of the reasons behind the growing popularity of Worldfloat is its unique game, Treasure Hunt, a virtual game which allows people to make money, he added.
Explaining the nuances of the game, Mahatta said players have to click on the notes seen on screen and the player with maximum clicks is the one with the highest score and winner of Treasure Hunt. The prize money is transferred to the winner’s bank account or given in e-gift vouchers.
“We are trying to collaborate with general entertainment channels so that Treasure Hunt can be played on those channels. We want to cash-in on its popularity to attract more users,” he said.
Besides, the site uses Float technology, which allows users to virtually move to different cities and connect with people by tapping the photos moving around, he added.
Users also have the option to watch a large collection of movies and can update themselves with the latest Indian and international news on a real-time basis, Mahatta said.
“Based on the response we are getting from users, I expect the number of Worldfloat users to touch 30 million by December this year. At present we are adding almost 30-35 lakh people every month,” he added.
Mahatta said he has been receiving offers from private equity (PE) funds from the US who want to invest in his venture.
“So far we have received 5 offers from PE funds based in the US. But, we do not want to rush into anything now. We want to wait and see how things turn out by the year-end. Our current valuation is around $250 million,” he added.