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Former Indian captain Sourav Ganguly has made his maiden foray into the world of start-up by investing undisclosed amount in Mumbai-based entertainment company Flickstree.
Flickstree, a tech-entertainment company, founded by Saurabh Singh, Rahul Jain and Nagender Sangra in 2014, was launched last year.
Company spokespersons said that the funds will be used to enhance its technology capabilities and also expand into the overseas market.
“The digital entertainment space is growing rapidly. Cricket and entertainment are two big business in India and therefore we saw an opportunity to invest,” Sourav Ganguly told Business Line.
Ganguly said, “While currently users can create only a single video magazine on Flickstree based on their interests, going forward I have asked the founders to enable users create multiple such magazines that users can create and enjoy.”
Flickstree is personal video magazine. It is a curated and personalized video platform, for free-to-watch videos.
Besides Ganguly, Kolkata's Aditya Group, Venture Catalysts and Moksh Sports Ventures have invested in about Rs 3 crore in Flickstree.It is backed by FBStart, a Facebook program.
Rahul Jain, COO, Flickstree, said that the company will be using the funds to scale up its technology and bring in new product innovations.
Jain said that Flickstree helps users find popular videos from internet. It curates free online videos from YouTube, Vimeo, Facebook and multiple other internet sources and serves them in a single application to users.
End users can choose from more than 20 categories such as comedy, documentary and drama.
Jain said that the company is also looking to expand to Australia and Indonesia.
“The free-to-watch video space is extremely fragmented, with multiple players creating tons of video content. These videos are published exclusively on separate platforms – a user who has interest in several categories cannot install multiple apps and keep browsing them separately, also owing to limited phone storage. This leads to poor video discovery. Flickstree is trying to solve this consumer problem”, said Satadru Dutta, co-founder Moksh Sports Ventures.
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