Gupshup, a Silicon Valley messaging startup with a focus on India, has raised $240 million from Tiger Global Management and others to buy back shares ahead of a possible IPO next year.
Gupshup raised $100 million in April from Tiger Global and was valued at $1.4 billion. Tiger Global has emerged as the biggest funder of venture deals this year.
Gupshup, which means chit chat in Hindi, allows businesses to communicate with customers through existing chat channels like text messaging, said CEO Beerud Sheth.
