Screw­vala Ex­its Dig­i­tal Me­dia Ven­ture Arré; Enam Steps in

The Economic Times - - Brands: Creating Desire - Gau­rav.Laghate@ times­group.com

Mum­bai: En­tre­pre­neur Ron­nie Screw­vala has ex­ited from Arré, a dig­i­tal me­dia ven­ture he co­founded with for­mer Net­work18 ex­ec­u­tives B Saiku­mar and Ajay Chacko. Enam Group has picked up a mi­nor­ity stake in the firm that launched its on­line plat­form three weeks ago.

This is the sec­ond share­hold­ing re­struc­tur­ing of Arré in about two months. In Fe­bru­ary, Saiku­mar had taken con­trol­ling stake while San­jay Ray Chaud­huri had come in as a co­founder in the com­pany that was formed in Jan­uary 2015.

Now, other co­founders, along with the Enam Group, have ac­quired the resid­ual stake held by Screw­vala, and his pri­vate equity firm Uni­lazer Ven­tures.

“Enam’s in­vest­ments will be used in the or­ganic build out of Arré’s con­tent, the over­all prod­uct of­fer­ing and fa­cil­i­tate scal­ing into a sig­nif­i­cant player in the dig­i­tal con­tent busi­ness,” the com­pany said.

Saiku­mar, MD of Arré, said, “Arré and Enam have a uni­fied vi­sion of mak­ing Arré the de­fin­i­tive multi­genre, multi-for­mat dig­i­tal des­ti­na­tion for a whole new world of dig­i­tal con­sumers pan-In­dia and go­ing for­ward in ge­ogra­phies out­side In­dia.”

Arré of­fers orig­i­nal con­tent across video, au­dio, text and doo­dles in var­i­ous gen­res such as fic­tion, fac­tual en­ter­tain­ment, doc­u­men­taries and so­cial ex­per­i­ments.

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