Conversation Cloud Leader Gupshup Witnesses Exponential Growth in the GCC Region; Expects to Grow 3X in 2024
-With a 40% year-on-year increase, Gupshup’s FY24 estimated overall revenue stands at USD 300 million
-Long terms plan to contribute to Dubai Universal Blueprint for AI and economic goals outlined in Dubai Economic Agenda D33
-Gupshup is Meta’s partner of the year. The company unveiled its Conversation Cloud suite at the “Conversations” event in Dubai.
11 June 2024, Dubai, The UAE: The world’s leading Conversation Cloud, and Meta’s leading partner, Gupshup recently announced its remarkable expansion and widespread adoption in the GCC region.
Following a year of rapid growth, the company projects to triple its revenue from the region in the current year. With a 40% year-on-year increase, Gupshup’s FY24 estimated overall revenue stands at USD 300 million.
Gupshup’s expansion into the UAE is crucial, especially with the UAE Government’s ‘Dubai Universal Blueprint for Artificial Intelligence (AI)’ initiative. This blueprint aims to boost Dubai’s economy by AED 100 billion annually and increase productivity by 50% through advanced digital solutions.
Speaking at the first ever UAE ‘Gupshup Conversations Forum’ at JW Marriott Marquis, Dubai, Beerud Sheth, CEO of Gupshup said, “Our revenue projections underscore the value we bring to businesses in this dynamic market. We’re spearheading the discussion on how conversational cloud solutions can be leveraged to drive customer engagement and revenue growth. As the conversational market is poised to be the driver of growth, we advise regional brands to embrace this innovative technology as a catalyst for business transformation.
Gupshup introduced ‘Conversation Cloud,’ the latest addition to their service portfolio in the region, at the forum. Sheth further explained, “Gupshup Conversation Cloud is a comprehensive suite of SaaS tools that creates meaningful end-to-end conversations between customers and brands. It conveys the brand message to customers while building two-way communication, increasing customer engagement and resulting in higher conversions.”
The GCC region has emerged as Gupshup’s third-largest market, trailing only India and Latin America. The company has cemented its presence in Dubai and has successfully expanded its operations to the Kingdom of Saudi Arabia, the Kingdom of Bahrain, the State of Qatar, and the State of Kuwait. All over the world, Gupshup serves more than 45,000 customers, sending at least 10 billion messages per month translated into more than 100 languages.
Gupshup employs a unified API to streamline business processes across a diverse array of over 30 channels, encompassing WhatsApp, Instagram, Viber, Telegram, voice, SMS, web, and app platforms, among others. Additionally, the company has introduced ACE LLM- a domain-specific, fine-tuned large language model purpose-built for business conversations As Gupshup has earned the trust of leading brands in the UAE, including Abu Dhabi Commercial Bank (ADCB), Emaar, Talabat, Bayut, Lulu Exchange, Apparel Group, Sharaf DG, and Qatar Islamic Bank, these industry giants have chosen to partner with the company to amplify customer engagement through groundbreaking conversational experiences.
As Gupshup continues to lead the conversation cloud market, it remains focused on its mission to revolutionize customer communication and foster deeper, more meaningful interactions between brands and consumers.
About Gupshup
Gupshup is the world’s leading Conversation Cloud that enables businesses to advertise, communicate, and converse with their customers by leveraging AI and CPaaS. Gupshup’s conversational engagement solutions enable 45,000+ brands across India, Latin America, Europe, Southeast Asia, the Middle East, and the United States to deliver better customer experience, and increased revenue while saving costs. Citibank, AkzoNobel, Khan Academy, Unilever, Dream11, Netflix, Flipkart, and Ola are a few of its leading clients. With an industry-trained Conversational AI platform and real-time unified profiles, Gupshup powers over 10 billion messages per month. Valued at $1.4 billion, the company has marquee investors such as Tiger Global, Fidelity Management and Research Co. LLC, and others on its cap table. For more details, please visit www.gupshup.io.
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Vandana
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