Image from Velocity IG
VentureBeat reports of a good news about Fabrik, a company that offer online storage and easy sharing of big files. Fabrik has just closed a $24.9 million deal and added Ross Levinsohn, former President of Fox Interactive Media, to the board. Its financing came primarily from 3i, with a small chunk from ComVentures.
Independent studies have revealed that the growth of India’s Entertainment and Media (E&M) industry will touch a record breaking Rs. 1 trillion mark in the next 4 years (by 2011). The E&M industry is growing at a Compound Annual Growth Rate (CAGR) of 18%. It is currently floating around Rs. 437 billion and is expected to outgrow the country’s economy. This growth is party due to the several positive measures taken by the government. It has also been boosted by technological advancements and entry of large corporate players into all segments of the industry.
In the wake of all these out-growth frenzy in the Entertainment & Media Industry, here we have FUSE+Media, formed by Keyur Patel of Com Ventures as an entity for media investment in India. He is the Managing Director and CEO of FUSE+Media. On one of his quick black-berry-ed email while he rush off to United States, he informed me that FUSE+Media is planning to announce a series of deals in the Entertainment and Media industry. He further told me that it will focus primarily on TV, Film, Print, Radio and of course one of his love – the web. If I can guess it right, there will be announcement on the acquisition and/or stake buy-outs of a radio firm, security company that provides security to media events and perhaps some Production Houses and/or Animation Studios.
Earlier ComVentures have invested $20 million in an Indian TV – NDTV which I think is about 25% stake. Comventures, in its continuing spree of heavy investment in India have continued to buy another major stake option in India TV, a 24×7 Hindi news channel of Independent News Services Pvt. Ltd. The investment of over Rs. 50.96 crore (about $11.5 million) amounting to 19.17% stake in Independent News Services Pvt. Ltd. puts India TV worth to the tune of Rs. 250 crore.
About a month ago, a meeting ran late when Keyur Patel got stuck on his way from the Airport to the Grand Sheraton Central, Lower Parel, Mumbai (INDIA). He was on his way back to Mumbai from New Delhi after some of his important meetings. Keyur Patel, who is one the major stake holder in Com Ventures, have strike many important deals in India. He have invested and still plan to invest more in India.
The web interface is powered by Ajax, making it easy to organize your media files – photos, audio, videos and other documents. The application have smart ways of tagging and organization through folders. Besides the impressive online mechanism that they have, My Fabrik have the ability to tie the online storage with your local storage. If you have own network connected storage device, you can subscribe to the Fabrik Media service and avail of the same. Techcrunch have a more elaborate topic about My Fabrik.