Tiger Global invests $10M in online video content creator The Viral Fever
Global investment firm Tiger Global has invested $10 million (Rs 68 crore) in online video entertainment venture The Viral Fever, according to a report by Mint citing the company's filings with the Registrar of Companies (RoC).
It added that Tiger Global, one of the more prolific venture investors in India, has picked a minority stake in Contagious Online Media Network Pvt Ltd, the six-year-old firm that runs The Viral Fever.
The Viral Fever is positioned as a video content creator and boasts of 1.3 million subscribers for its YouTube channel. It is one of several peers such as All India Bakchod (AIB) that capitalise on humour, meshing it with real world issues or developments. It also has its own website TVFPlay.
When contacted by VCCircle, both Tiger Global and The Viral Fever declined to comment on the development.
The Viral Fever was founded in 2010 by IIT Kharagpur alumnus Arunabh Kumar.
In December 2015, Tiger Global Management raised $2.5 billion in a new fund, Tiger Global Private Investment Partners X. A total of 520 investors put money in the fund.
The investment firm has been active in India since 2009 and has invested not only in technology and internet-based companies but in others such as taxi aggregator Ola, tea cafÃ© chain Chaayos, online apparel brand Limeroad, e-commerce firm ShopClues and real estate portal CommonFloor.
Other companies in its portfolio include digital media firm Culture Machine, gaming firm Moonfrog Labs, marketplace LocalOye, fintech firm PolicyBazaar and mobile news provider InShorts, to name a few.
In October last year, the firm, along with Matrix Partners, invested $9 million (Rs 59 crore) in online payment startup Razorpay.
In the same time period last year, Tiger Global along with Flipkart made seed investment in Delhi-based mobile technology startup Cube26.