Access to India's Expanding Global Youth Market Draws Big Support
SAN FRANCISCO, Jan. 22 /PRNewswire/ -- One year after its launch, Desi
Hits! (http://www.desihits.com) has announced the successful completion of its
second round of fundraising, which garnered a further $5 million from
Draper Fisher Jurvetson (DFJ), Trident Capital and the D.E. Shaw Group.
With its massively popular celebrity interviews, music videos, podcasts and
blogs, Desi Hits! has become the South Asian-or "Desi"- pop destination of
choice for the world's enormous South Asian (Indian) youth culture.
"In one short year we've also seen the West's interest in South Asia
skyrocket," notes Desi Hits! CEO Anjula Acharia-Bath. "Not only are we
providing exciting, culturally relevant entertainment for the global Desi
population, we're opening doors to Western acts that want to enter the huge
Indian market in an authentic way." As a result, both Hollywood and music-
industry insiders have sought to partner with Desi Hits! in a number of
synergized ways, the most notable of which was a recent exclusive podcast
with rap superstar 50 Cent prior to his concert in Mumbai. "You know that
when 50 Cent is embracing Desi there's something big going on," says
Acharia-Bath. "He's a smart businessman and sees the huge opportunity of
the South Asian Diaspora. We're incredibly honored that DFJ and Trident
have shown continued support of our original vision and that the D.E. Shaw
Group has recognized the company's great future potential."
Desi Hits! has an appeal that speaks to a South Asian youth population
seeking a combination of Eastern authenticity and Western street "cred." As
a result, the site has grown to a substantial entertainment destination
with more than 10 million hits per month. "Entertainment web offerings can
be very challenging because they demand an instinct about targeting the
right audiences with the right content," says Michael Banks, an executive
of the D.E. Shaw Group's venture capital unit. "We think Desi Hits! has
found the right formula by producing an East/West fusion culture that has
broad appeal in South Asia and around the world."
With recent coverage in such publications as The Wall Street Journal,
WWD and Vogue India, Desi Hits! is fast becoming the matchmaker between
East/West pop culture collaborations. Upcoming highlights include further
web exclusives with American hip-hop and R&B acts like LL Cool J and Akon,
and new releases from Urban Desi, Bhangra and Bollywood artists like Jay
Sean, AR Rahman and Raghav.
"It's a fantastic time in the world to be Desi," adds DFJ's Ravi
Belani. "The emerging South Asian demographic will experience more
significant changes from their parents than any other previous generation.
Desi Hits! answers the need for a next generation media platform to address
the richer, more cosmopolitan and multimedia needs of the Desi consumer. We
are thrilled to back Desi Hits! and think its vision captures the richness,
fun and sophistication of this powerful demographic."
About Desi Hits!
Reflecting the diversity of today's trendsetting South Asian, Desi
Hits! spotlights established and emerging talent across music an film. The
multimedia site caters to a cosmopolitan online community that craves fresh
innovative East/West fusion, and the best from Los Angeles, London,
Bollywood and beyond. Streaming music/video and podcasts, blogs and artist
profiles, celebrity interviews, lifestyle features, special event listings
as well as user-generated shows are all accessible anytime, anywhere. Desi
Hits! is dedicated to creating and encouraging exciting, edgy content and
has already gained a following in more than 68 countries.
CONTACT:
Andrea Codrington, acodrington@brandbuildingpr.com
Stacy Gillian, sgillian@brandbuildingpr.com
Brand Building Communications, 212-343-8917
SOURCE Desi Hits!
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Related links:
http://www.desihits.com
CONTACT:
Andrea Codrington,
acodrington@brandbuildingpr.com, or Stacy Gillian,
sgillian@brandbuildingpr.com, both of Brand Building
Communications for Desi Hits!, +1-212-343-8917
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