Happy to announce our investment in chakpak.com – the largest online community for Indian entertainment. We are excited to partner with Accel in financing the company, largely because:
- Entertainment is a high usage and engagement category – As per Comscore, 18 million visitors in India already access entertainment content. Add to that the NRI base, and that number should be in 25-30M range.
- Entertainment is also a high spend category, with over $36B spends on media and entertainment as per PwC FICCI Frames report. Some sections of this are addressable by chakpak over time – for example, movie marketing alone is a $500M market.
- Efficient execution – over 5 million users access chakpak services every month, and chakpak team has done a great job of generating such levels of usage without spending a dime on marketing. They “get” the internet.
And to top it all, we are already getting our share of brickbats on making the investment, which means we might have just done something right 🙂
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