- Tiger Global Management Llc has invested $10 million (Rs.65.6 crore) in popular online video content creator ‘The Viral Fever’ (TVF), picking up a significant minority stake in the firm, according to filings made by the company with the registrar of companies (RoC), reports Live mint.
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- Tiger Global Management Llc has invested $10 million (Rs.65.6 crore) in popular online video content creator ‘The Viral Fever’ (TVF), picking up a significant minority stake in the firm, according to filings made by the company with the registrar of companies (RoC), reports Live mint.
- Contagious Online Media Network Pvt. Ltd was incorporated in July last year. As per the report, Tiger Global has picked up close to 25% stake in the company at around Rs.270 crore value.
- The Viral Fever was set up by IIT graduate Arunabh Kumar in 2010. He was later joined by Amit Golani and Biswapati Sarkar.
- TVF is popular for producing online videos targeting the youth. The group is known for its comedy videos such as Qtiyapa; Barely Speaking with Arnub—a satirical take on Times Now’s Arnab Goswami and its original online series such as TVF Pitchers and Permanent Roommates, added Live mint.
- With online video viewing increasing exponentially, there are many players entering online video content space, especially in the comedy genre. There has been emergence of several groups such as All India Bakchod, East India Comedy and several stand-up comics.
- These content creators are not just doing it for the laughs. There is serious money to be earned through platforms such as YouTube. According to a report by US magazine Forbes in October, the 10 top earning content creators on YouTube for 2014 and 2015 earned a grand total of $54 million.
- This is the second investment in the online video content space by Tiger Global. Last year along with venture capital fund Zodius Capital, Tiger Global had invested $18 million in Culture Machine, Being Indian and several other YouTube channels are run by them. The firm lends help to artists, to create, promote and monetize their videos on YouTube and other platforms.
