SAIF Partners Invests $5Mn in Video Content Provider - A2Media
by Irfan Khan
@SAIF_Partners has invested $5Mn in video aggregation company - A2Media Pvt Ltd(iStream.com). SAIF Partners India head Ravi C Adusumalli and Mukul Singhal will join the board of A2Media.
iStream was founded by Radhakrishnan Ramachandran and Chellappa Dhanukodi. The company which started out in 2007, offering video content from partners such as Times Now, Zoom, Raj TV, Filmy, NDTV Lumiere, Vissa, Kairali TV and later Viacom18, to online destinations like YouTube, DailyMotion, MSN, Jagran/Yahoo, Indiatimes and Sify, has now launched its own portal, iStream.com, featuring Indian content across news, TV shows and movies.
According to the company it will first offer news video clips as well as Live TV feeds, across major Indian languages, and will also launch TV and Movies sections in December. It also plans to launch an iOS app by next month and intends to make the service available on mobile phones, set top boxes, gaming consoles and connected TVs. It will also target the Indian diaspora in overseas markets.
The portal presently offers Live TV streams from Times Now, ET Now, Headlines Today, Aaj Tak, TV9 AP, TV9 Karnataka and News9; and news video clips from all of these in addition to clips from regional players such as Sun News, Gemini News and Star Ananda. The site offers a Browse page with filters for Category, Language, Genre, Channel, Show and Season to help users watch specific content. Users can also save videos as Favorites, once they register.
Offlate SAIF Partners has been making investments in e-commerce firms. In July, SAIF along with MakeMyTrip founder Deep Kalra invested $5.5Mn in Zovi.com. Before that, SAIF invested $4 Mn in online kids and babycare products retailer, FirstCry.com. In January, SAIF invested $3 Mn in Mumbai-based online apparel retailer Inkfruit.com (Fingerprints Fashions Pvt Ltd).
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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