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Raghav Bahl’s Quintillion Media backs YouthKiAwaaz with Rs 4 crore funding
MUMBAI: Quintillion Media, the digital venture of Raghav Bahl and Ritu Kapur, has invested Rs 4 crore (Rs 40 million) in YKA Media, the company that runs online news and views portal YouthKiAwaaz.
Quintillion is the publisher of TheQuint.com that went live in March this year.
YKA Media will use the funds to expand the team, boost technology and build a long-term business model. BMR Advisors and Novistra Capital acted as the principal advisors for the transaction.
“YouthKiAwaaz is a completely people-driven digital media platform. With veterans like Raghav Bahl and Ritu Kapur on board as partners, we feel both privileged and excited to start a new and even more adventurous phase in pushing this generation’s opinions to the front,” The Economic Times quoted YouthKiAwaaz founder Anshul Tewari as saying.
“In a short period of time, they have managed to carve a niche for themselves in the digital media space by creating a people-driven digital media platform. We find their content to be high on both appeal and quality, which is a fine balance to strike,” said Quintillion Media co-founder Ritu Kapur.
“Globally, the digital hand-held space is not more than two years old and we prefer early-stage deals, because it’s fun to grow alongside these opportunities,” Bahl told the business daily. He also said that the company usually looks to invest about $1 million each in startup ventures.
YouthKiAwaaz is a completely crowd-sourced website with two million plus monthly readers and 35,000 plus contributors. Driven by a community model, YKA marries crowd-sourcing techniques with a unique editorial style to get everyone to contribute.
Earlier, the company had backed sheroes.in, a jobs and career community for women.