Venturenet Partners to launch Radiowalla in April

02 Feb,2012

By A Correspondent

 

Venturenet Partners Private Ltd, a Bengaluru-based internet radio company plans to launch a premium model internet audio service, Radiowalla by April 2012.

 

Venturenet has already launched Spot Radio, a b2b digital in-store radio entertainment network in August 2011. The internet radio company has already announced that it has raised series A funding from Ojas Ventures Partners (OJAS) which will enable it to further expand the services and features of its retail audio solution – Spot Radio and it’s b2c radio service – Radiowalla.

 

In addition to this, it is also learnt that after having out-performed its business goals, Venturenet will scout new investors for the next round of funding.

 

In conversation with MxMIndia, Mr Anil Srivatsa, Co-Founder and CEO, Radiowalla explained that the objective of starting Radiowalla was to provide radio with its due of choices and to serve the special interest groups and communities with the content they would like to listen to and willing to pay. “We are trying to be in all languages and genres, including motivations, philosophy and other non music content… It is like an audio mall – one place for everything,” he added.

 

Launched in August 2011, Spot Radio is said to have already partnered with 20 national retail chains, with over 2000 sites nationwide and is targeted to grow to a record 10,000 sites by the end of the year.

 

Currently, Venturenet has around twenty brands in its client list ranging from lifestyle brands to hypermarket brands to food and beverage brands to name a few. According to Mr Srivatsa, Venturenet Partners is currently in an investment mode and hence he is not thinking about break-even plans.

 

However he believes the sites – Spot Radio and Radiowalla – will sustain break-even very soon, though not for the next 18 to 20 months.

 

On his vision for the year 2012, Mr Srivatsa said: “My vision for the coming year is to launch a life changing audio platform that will change the way people will consume audio content. Therefore we are trying to leap frog into raising and meeting the expectations of our consumer base.”

 

The team size of theBangalorebased Venturenet Partners is currently around 12 – 13 and growing. The marketing plans, for now, are limited to viral but will later spread to the traditional and digital media.

 

Mr Anil Srivatsa has been a veteran of the media field since the past 20 years. He had launched a radio show called ‘Anil Ki Awaaz’, inNew Jersey,USAand ‘between the sheets’ inIndia. He also launched an internet radio channel for Asian Americans. Prior to launching Venturenet Partners, Mr Srivatsa was the CEO of Kings XI Punjab and before that he was the COO Radio Today Broadcasting (Meow 104.8 FM).

 

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