Tiger Global Management has invested $10 million in online video content platform ‘The Viral Fever’ (TVF), picking up a minority stake of 25% in the firm. This report is based on the filings made by the company with the registrar of companies. With this investment, TVF is now valued at Rs 270 crore.
The investment was made in TVF’s parent company, Contagious Online Media Network Pvt. Ltd, which was incorporated in July last year.
The company’s filings show that for the period from 3 August to 21 October, Contagious Online Media reported a revenue of Rs.64 lakh and a profit of Rs.22 lakh.
The Viral Fever was set up by IIT graduate Arunabh Kumar in 2010. He was later joined by Amit Golani and Biswapati Sarkar.
This is Tiger Global’s second investment in the online video content space. In 2015, Tiger, along with venture capital fund Zodius Capital, had invested $18 million in Culture Machine, which runs the Being Indian and several other YouTube channels. The firm helps artists create, promote and monetize their videos on YouTube and other platforms.