"EDITION 13"

Published: 6/5/2020

“EDITION 13”

It’s Wednesday, and the last 24 hours have been quite sorrowful for me personally with everything that’s been happening in Delhi. But moving on to the news, lending is always fire and we have a company raising money to scale their operations (I presume) & an infamous OTT platform going through some tough times:

  • http://bit.ly/2PqzCQj (TechInAsia): Rupeek, the online gold-backed lending platform, has announced a $60M Series C fundraise from the likes of GGV Capital, Bertelsmann India Investments, Accel Partners, & Sequoia Capital. The company essentially lets consumers use their personal gold assets as collateral to take loans. Indians have the biggest private gold holdings & take out loans worth ~$43B annually. Rupeek currently only (I’m talking relatively because these numbers are wild) disburses about $200M worth of loans annually so the opportunity to scale in this market is absolutely massive (they only own 0.5% of the total market). Gold is a very common & popular asset class in India, especially with the society highly distrusting institutions, so I’m super bullish on companies like Rupeek helping bring alternative sources of credit to Indian consumers.
  • http://bit.ly/3a2O4WE (Entrackr): In other news, the online media company TVF seems to be struggling. The company that has been plagued by their founder sexually assaulting several employees, now seems to be having trouble raising capital. TVF became popular on YouTube and grew along with the Indian comedy scene. They have a couple popular original series like Pitchers, Permanent Roommates & The Kota Factory but has an interesting method of pushing their content. They have their own streaming service (TVF Play) but also licenses their content to other platforms like MX Player, Netflix, Sony LIV & Amazon Prime (literally almost everyone), which to me means that they are devaluing their own platform (why would anyone want to subscribe if they can already get the content elsewhere). A slightly other interesting aspect of this is that one of “their” original series, ImMature, actually launched as an original series on MX Player (likely before their own platform). And now Times Internet (MX Player is their OTT platform) is in talks to acquire TVF, probably largely for their content library & popular YouTube channels since the TVF Play platform probably doesn’t add much value to them. I guess the only question is how much is that content really worth & if these acquisitions talks really go through (though I really hope the unnamed founder doesn’t walk away with a lot of money).
  • Feedback & ❤️ always appreciated

    More tomorrow :) BONUS (Tweet of the day): https://twitter.com/sajithpai/status/1232496972075921409