By Vivek Pai & Nikhil Pahwa Online video streaming application YuppTV has secured $50 million in a round of funding from Emerald Media, in exchange for a minority stake, the company has said. Emerald Media is a Pan-Asian investment firm led by Rajesh Kamat and Paul Aiello, two former STAR executives, the same team that led CA Media; it is essentially a new portfolio of investments for the CA Media team, with $300 million committed by KKR's Asian Fund II, with CA Media as a co-investor. The capital will be used for expanding YuppTV’s content library through originals and acquisitions, to expand globally and grow its subscriber base. Last month, the company acquired Reliable IPTV, which caters to the Telugu-speaking NRI diaspora in the United States, Canada and the United Kingdom. The Emerald-CA Media combine has investments in Endemol, OML, Fluence and Graphic India, for the creation of original content, which YuppTV will look to leverage. YuppTV has raised money twice previously: an undisclosed amount from Poarch Creek Indian Tribe of Alabama in September last year, and $2.5 million from angel investor Sashi Reddi in 2014. It was founded in 2007 by Uday Nandan Reddy, and offers a subscription-based live television & video-on-demand service to NRIs in countries like the US, Europe, Australia, Canada, Trinidad & Tobago and South Asian countries. It claims to list over 250 South Asian TV channels, over 5000 movies and over a 100 TV shows. Content Acquisitions by YuppTV In August, it acquired broadcast rights for…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...