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Pune-based poultry major Venky’s buys stake in online music firm Hitlab.com

Following the acquisition of English football club Blackburn Rovers for around Rs 280 crore, Pune-based poultry major Venkateshwara Hatcheries (Venky’s) has bought a stake in Hitlab ULC, which runs the music site Hitlab.com for an undisclosed amount. Hitlab ULC is a joint venture between a Canadian internet company and counts pop artist Akon.

Following the acquisition of English football club Blackburn Rovers for around Rs 280 crore, Pune-based poultry major Venkateshwara Hatcheries (Venky’s) has bought a stake in Hitlab ULC, which runs the music site Hitlab.com for an undisclosed amount. Hitlab ULC is a joint venture between a Canadian internet company and counts pop artist Akon. Venky’s India is said to be the third-highest shareholder in Hitlab.com. The website had a soft launch on April 1, 2011 ahead of Akon’s India tour, a statement from its publicist said today.

Commenting on this, B Balaji Rao, managing director, Venky’s India, said “The strategic alliance will focus on offering Indian artists and international artists the opportunity to get discovered by Akon and new fans to hear their song on Akon’s Hitlab radio show.”

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