Acquisitions

RSK acquires Spanish social media platform Taringa

LatAm ListTaringa is a Spanish social media platform with a prominent presence in Latin America and Spain. RSK, a subsidiary of IOVLabs recently announced buying the social media platform and gaining access to the site’s 30M users.

The Taringa acquisition will motivate users to share content in exchange for cryptocurrency rewards in IOVLabs’ RIF token. Taringa’s headquarters are located in Argentina where it is used by 28% of internet users according to Statista

With many Spanish-speaking countries like Argentina and Venezuela in the middle of economic crises, RSK is betting that citizens will turn to alternative currencies to secure their finances. 

“If you go to the first world and you start talking about bitcoin and decentralized platforms, you need to explain why. In Latin America, you don’t need to explain why,” IOVLabs CEO Diego Gutierrez Zaldivar says. “People understand why instantly, so they jump right into the how and who. It’s a different reaction. That’s exactly why we chose this social network.”

The Argentine CEO hopes that gaining access to the site’s 30M users will help RSK’s developers easily identify through tests what works well and what doesn’t.

Read more on Forbes.

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