YuppTV receives investment of Rs 16 cr from Sashi Reddi

07 Apr,2014

By A Correspondent

 

Entrepreneur and angel investor Sashi Reddi has invested $2.5 Million (approx Rs 16 crore) in Hyderabad and Atlanta-based internet TV provider YuppTV for a 10 percent stake in the company. This values YuppTV at $25 Million (approx Rs 160 crore). With access to 170 live Indian TV channels and a large movie library, YuppTV now boasts of five million visitors every month.

 

According to a communiqué, Mr Reddi will join the board and work closely with founder and CEO of YuppTV, Uday Reddy, in building the company to $100 Million revenue in the next three years. YuppTV currently competes with satellite and cable TV operators offering Indian content. Its primary target markets are Indians living in North America, Europe, and Australia. YuppTV clocked revenues of $11 Million (approx. Rs. 70 crores) in 2013. It grew over 100% year-on-year for the last two years.

 

“I believe that YuppTV is the most dynamic media company to emerge out of India. Under Uday’s leadership, it has the potential to revolutionize how Indian content is consumed globally in the next few years,” stated Mr Reddi, founder and managing partner of SRI Capital. “We are on the verge of a revolution in content delivery and YuppTV is at the forefront of that revolution.”

 

“All of us at YuppTV are excited to have a seasoned entrepreneur like Sashi Reddi join us in building our company. This is a clear validation of our business strategy to be the #1 player for Indian content distribution globally,” said Uday Reddy, founder and CEO of YuppTV.

 

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