Mobile social networking company, Rocketalk, is planning to raise $10 million through a second round of venture capital funding over the next few months. The company with over four million active users in Indian is targeting to reach 20 million subscribers over the next 12-18 months.

Speaking to Business Line , Mr Rajeev Kumar, Chief Executive Officer and Founder, Rocketalk India, said, “We are growing at a good pace with over four million users in India and another two million in other countries. We are planning to go for a second round of funding by June-July to raise about $10 million. Our target is to take our user base to 100 million.”

The company claims to be ahead of Facebook and Twitter on mobile in India. “Most of our users are from tier-2 and tier-3 cities where the aspiration levels are high. According to mobile analytics company Informate, RockeTalk is the most used mobile social networking application,” Mr Kumar said.

RockeTalk is a voice and video-based social networking application for mobile phones available across all mobile networks. It enables users to create any combination of text, voice, photo, and video messages, share with any contacts, join communities and chat with individuals and groups, and access a variety of entertainment and content

While the service is free-of-charge at present, the company is planning to charge a fee in some segments. For instance, it has a section called ‘whats hot' for which the company is planning to charge a fee if any of the user wants to be featured in that segment.

“Our revenue model will be a mix of advertisement, location based services and user fee,” said Mr Kumar.

Like all value-added service providers, Rocketalk is expecting an uptake of its service with the advent of third generation mobile services. “It is a win-win situation for both the operators and us because sending videos and photos on our platform will consume bandwidth which means additional revenues for the operator too,” said Mr Kumar.

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