Global hedge fund Tiger Global has invested $10 million (Rs 65.6 crore) in The Viral Fever, valuing the makers of popular online video sitcom Permanent Roommates and TVF
Pitchers at around Rs 270 crore.
Tiger investments in India include Unicorns such as online classifieds firm Quikr, e-commerce firms Flipkart and Shopclues and taxi aggregator Ola. The Viral Fever has over 1.36 million followers on its YouTube channel and is among the popular online video channels in the country.
Tiger has valued the company, Contagious Online Media Network Pvt Ltd, which owns The Viral Fever, at around Rs 270 crore, the firm said in its filing on the Registrar of Companies.
TVF was founded by IIT graduate Arunabh Kumar in 2010.
Contagious earned a profit of Rs 22 lakh on revenue of Rs 64 lakh for the period of August 3 to October 21, 2015, the filings said. The company was incorporated in July last year.
Mint reported the development first on its website.
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