Former Indian cricketer Sourav Ganguly has made an investment in a video streaming platform Flickstree joining other sports celebrities and film stars who have got on to the startup bandwagon in the past few years. The Mumbai-based Flickstree calls itself a tech-entertainment company and curates free-to-watch content from social networks, Ganguly told TOI in a chat that he believed Indians love entertainment and cricket which is why he has bet on Flickstree at a very early stage. This is my maiden investment in a startup, for now I will wait and see how this works out. I have not set aside a corpus to make more investments immediately, he said. Besides, pumping in capital, Ganguly will also help Flickstree build its brand and create awareness around the platform.
Cricketer Yuvraj Singh runs a fund YouWeCan Ventures which he launched in 2015 and has been making angel and seed stage investments in various startups. The Rs 3 crore financing round in Flickstree was led by seed investor Venture Catalysts after the company was selected for Facebook’s accelerator programme FBStart.
“We presently have 75,000 monthly active users and 5,000-6,000 daily active users,” said Saurabh Singh, co-founder and CEO, Flicktree. Video streaming or over-the-top content has seen a flurry of activity in India in the past year,more so with the availability of cheaper 4G data led by Reliance Jio. Big players like Amazon and Netflix are fighting out in this market with millions of dollars in investment being pumped into original content creation but startups like Flickstree say they will only act a curated aggregator of free content. ” With so much content around it becomes difficult for users to discover what is relevant for them. This is what we are trying to organize,” Singh said. The startup also plans to take the Artificial Intelligence-based platform out of India into other countries.
Source:http://timesofindia.indiatimes.com/venture-capital/former-india-cricket-captain-sourav-ganguly-invests-in-video-streaming-startup/articleshow/59543328.cms