Mini Menon and Alok Nair, former executive editor and business head, respectively, at Bloomberg TV India, have come together to unveil a multi-channel infotainment digital media platform Indy Network Pvt. Ltd. The platform will curate and co-create multimedia content, targeting viewers in the 15-45-year age group who primarily consumes media on smartphones. The duo has also brought Akshay Chavan, who has over a decade of experience in digital media, as the third partner.
"We are looking at a collaborative model plus creating our own platform," said Nair in a statement.
The holding company of Indy Network will be a collaborative enterprise involving existing media companies and brands, he said. Indy Network will also serve as an independent platform generating niche content.
"We are targeting niche content segments. We believe these segments are underserved in India and audiences have transformed in the last five years. We will bring in partners at a nascent stage because we want to co-create platforms. The platform will get ready in two-three months," said Menon.
While Menon will drive the content and editorial vision for Indy Network, Nair will oversee the business side of the venture. Chavan, who brings with him a decade-long research experience in niche content as well as understanding of digital media platforms, will head the digital technology arm of the firm.
Prior to launching Indy Network, Menon was executive editor of Bloomberg TV India, responsible for driving the feature programming strategy for the channel. She is known for shows such as 'Inside India's Best Known Companies', 'Pitch', 'In Focus' and 'Assignment'.
"After an innings in television, I am looking forward to taking the next big leap as an entrepreneur and co-creator of what we hope will bring a paradigm shift in content. We have an exciting slate of work lined up and hope to create something that will make every Indian proud!" said Menon.
Nair has nearly two decades of experience in running teams across media firms including The Times of India group and Network 18 besides Bloomberg TV India. At Bloomberg TV India, he headed the channel's operations in the country and worked closely with the board and international partners.
Chavan has previously worked with Tata Sky, ICICI Securities, Lawrence & Mayo and Saregama Music, among others, helping them leverage digital and social media, search optimisation, branding, data analytics and mobile app technologies.
Currently bootstrapped, Indy Network will derive its revenues from advertising. The firm will target audiences in the 15-45-year age group who primarily consumes content across devices, largely smartphones.
The digital media space has elicited a lot of investor interest in the recent past.
Last month, Singapore-based technology news platform e27, run by Optimatic Pte. Ltd, raised $2.2 million in its Series A round led by China's TechTemple Group.
In May this year, former Dentsu India head and chairman of Mogae Media, Sandeep Goyal said he plans to invest Rs 100 crore ($15 million) in digital media and mobile innovation startups in India.
Mahindra group chairman Anand Mahindra too invested an undisclosed amount in SheThePeople.TV, a digital storytelling platform for women founded by journalist Shaili Chopra, in May.
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