Yupp TV raises $ 2.5 million
Apr 04 2014 , Hyderabad
“Yupp TV has emerged to be a dynamic media company from India and has the potential to revolutionise the way Indian content is consumed globally in the next few years,” Sashi Reddi said. The investments, however, are made in his personal capacity and not through SRI Capital, a VC fund he set up for Indian investments.
The Atlanta-based company with an office in Hyderabad, has content partnerships with most of TV channels in India with rights for key global geographies. ”The investment comes as a clear validation of our business strategy to be the top player. While we started with two channels in 2006, Yupp TV now offers 170 channels in US, Canada, Europe and Australia. In India, we would launch in the first quarter on an internet based platform,” said Uday Reddy, founder and chief executive officer of the company.
In 2013, Yupp TV clocked revenues of $ 11 million and turned breakeven. It grew over 100 per cent year on year for the last two years, Uday Reddy, said. The company follows a subscription model, with minor ad revenues from the five million customers it has.