Tiger Global invests Rs 66 crore in TVF parent Contagious Online Media Networks

MUMBAI: Contagious Online Media Networks, which runs digital video content platform The Viral Fever (TVF) and TVF Play, has raised $10 million (Rs 65.6 crore) from New York-based investment firm Tiger Global Management, according to filings made by the startup with the registrar of companies.

Tiger Global, through Internet Fund III, is picking up a 16.6% stake in the company which would value it at nearly Rs 400 crore. Talk of an investment by Tiger Global in TVF had first started in June 2015, but since then the startup has set up a new entity Contagious Media while it was registered as TVF Media earlier.

Founded in 2010 by IIT graduate Arunabh Kumar, the digital video content creator produces webisodes targeting Indian youth with web series like Qtiyappa, Permanent Roommates and even startups like TVF Pitchers. While initially publishing content on Youtube, with increasing popularity of its web series it is also promoting its own platform and mobile application TVF Play. It has also recently started working with other content creators.

Arunabh Kumar, founder of The Viral Fever, said “no comments” on the investment by Tiger Global Management and declined to comment on the valuation of the company. This will be the second investment by Tiger Global Management on the video content space, after infusing $18 million in Culture Machine last year.