Movies

Amitabh Bachchan & family invest $71 million in Ziddu.com

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MUMBAI: Amitabh Bachchan along with his family have made their first significant equity investment in an overseas company. The Bachchans have invested $71 million (approx Rs 450 crore) in acquiring a minority stake in Singapore's Meridian Tech Pte Ltd, which owns Ziddu.com.

Ziddu.com is a free cloud storage, global wallet, social commerce and social gaming platform startup. 

The firm, which also offers a micro payment platform, was founded five years ago by Venkata Srinivas Meenavalli. 

?Mr Amitabh Bachchan and his family have invested in Ziddu.com at a valuation of around $71 million,? said Meenavalli.

?I'm very happy and excited that they have reposed confidence and trust in Ziddu.com,? he added. 

According to Google Analytics, Ziddu is among the top five file-sharing sites across the world, generating 1.2 billion page views with visitors from more than 225 countries. The company logged revenues of $20 million in calendar year 2014. 

The deal was executed on 18 May, 2015.

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