2014-04-08 07:22:00 - • YuppTv value raised to Rs 160 Crores
• Sasi Reddi to join the board as Director
Hyderabad, April 8, 2014: Sashi Reddi invests $2.5 Million (approx. Rs. 16 crores) in Hyderabad and Atlanta based internet TV provider YuppTV for a 10% stake in the company. This values YuppTV at $25 Million (approx. Rs. 160 crores). With access to 170 live Indian TV channels and a large movie library, YuppTV is now the #1 player globally for Indian content delivered over the internet. Over 5 Million visitors view YuppTV every month.
Sashi 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 3 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 Sashi 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.
YuppTV is headquartered in Atlanta, USA with offices in Hyderabad, India. It has around 140 employees. It has content partnerships with almost every TV channel in India with rights to all key geographies globally. YuppTV can be accessed through most devices including PC, iPhone, iPad, Android devices, Smart TV’s Blue Ray Players and gaming consoles.
About Sashi Reddi
Sashi Reddi sold his software testing company AppLabs to Computer Sciences Corporation (CSC) in 2011 and is an active angel investor in around 15 technology and media start-ups in the US and India. Sashi is the founder and managing partner of SRI Capital, a Rs. 100 crores VC fund in India. He serves on the Wharton Entrepreneurship board as well as on the board of Ben Franklin Technology Partners in Philadelphia.