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Shekhar Gupta gets Ratan Tata, Nandan Nilekani, Uday Kotak to invest in The Print
MUMBAI: Former Indian Express editor Shekhar Gupta has roped in a group of investors including Ratan Tata, Uday Kotak and Nandan Nilekani for his digital news platform The Print.
Printline Media, the company which will own and operate The Print, has raised an undisclosed amount. It will use the capital to launch The Print within three months.
The other investors include Biocon Ltd founder Kiran Mazumdar Shaw, Bangalore-based tech-entrepreneur Rajiv C Mody and Paytm founder Vijay Shekhar Sharma. They will all invest in their personal capacity.
Gupta will hold 80% stake in Printline Media while the other investors will own 20%.
Printline, which has set up office in Delhi’s Express Building, will have a team of 50 people.
Gupta was the editor-in-chief of The Indian Express Group for 15 years and quit in June 2014..
The digital news market in India has several independent players like Scroll, The News Minute, The Quint, Quartz, Newslaundry and The Wire. Print companies such as The Times of India, Hindustan Times and Indian Express have their own online news outlets.