industry

Streaming platform ALTBalaji picks up 17.5% stake in celebrity engagement platform Tring


MUMBAI: ALTBalaji, a wholly-owned subsidiary of Balaji Telefilms, has acquired a 17.5% stake in the online celebrity digital engagement platform, Tring.

Launched in February 2020, Tring has become one of the leading players in the celebrity video shout-out space. The investment by ALTBalaji values the company at around Rs 100 crore.

Founded by Akshay Saini, Rahul Saini and Pranav Chabhadia, Tring has over 2000 celebrities, who offer personalised video shout-outs or messages, live video calls, DMs on Instagram etc. for personalised two-way engagement with their fans.

“Balaji Telefilms has always believed in investing ahead of the curve and this investment in Tring allows us to better connect with audiences across India,” said Shobha Kapoor, managing director, Balaji Telefilms. “The team at Tring has done a tremendous job in such a short period, and we are confident that with our investment and support, they will scale much faster, bringing audiences closer to the celebrities they adore. We look forward to growing our businesses, given the numerous synergies that exist between Balaji Telefilms and Tring across target markets and customers.”

Launched in 2017, ALTBalaji is subscription-led video streaming service with 65% of its consumers coming from the non-metro and tier II and III towns and cities.

“Having been in the business of entertainment for more than two decades now, we value the bond between celebrities and their fans. Both ALTBalaji and Tring work with talent and try to bring them a step closer to their fans and vice-versa. We believe this synergy will work in favour of both the brands and help each other widen our reach. We believe in the talented team at Tring, who has immense potential to take the business to new heights,” said Ekta Kapoor, joint MD, Balaji Telefilms.

As part of this transaction, ALTBalaji will be entitled to appoint one board member to represent them on the board of BD Inno Ventures (the parent company of Tring).

Akshay Saini, co-founder, Tring, said, “It gives us immense confidence that industry stalwarts like the Balaji Telefilms have invested in Tring and their belief in the Tring value proposition shows the potential of celebrity commerce space in India. Having them as partners in this journey provides valuable and key strategic inputs for Tring as we continue our market penetration and reach the masses. We have just begun, it is day one.”

Tring’s existing investors include photographer and movie producer Atul Kasbekar, as well as angel investors Kalyan Krishnamurthy (CEO, Flipkart), Sujeet Kumar (CEO, Udaan), Gaurav Munjal (CEO, Unacademy), Roman Saini, Hemesh Singh, Sumit Jain, Dinesh Godara (Founding team Unacademy), Keshav Sanghi (Ventureworks India), and Dalbir Saini (Chairman BDI Group) amongst others.





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