Samir Patil, CEO of ACK Media which had recently acquired the rights to content from children’s publications Amar Chitra Katha and Tinkle, has told VC Circle that they intend to invest $15-20 Million in the business. The company has a majority stake in the brands – of over 90 percent, and will be looking to raise funds for their expansion plans six months from now. Shripal Morakhia, founder of stock broking firms SSKI and Sharekhan has made a majority of the investment in ACK Media.
The company intends to first focus on retail channels, and then follow it up with online offerings including an online store and TinkleOnline.com. In the third phase, they will consider TV and Film companies for licensing and syndication, and developing mobile content around popular characters from the series. Interestingly, they’re not just looking at an ad-supported model for their online initiatives. Details at VC Circle.
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