MUMBAI: Hyderabad based digital and entertainment start-up SillyMonks – the youngest & the fastest growing YouTube Multi Channel Network Partner announced today they have raised 3Cr from HNI Sreenivasa Reddy Musani, CMD EKTHA Group. The deal, marked as the largest HNI investment in this space in South of India will help SillyMonks augment their market leadership and to introduce new digital media properties.
Sreenivasa Musani is an entrepreneur with 18 years in Internet & E-commerce related businesses specializing mostly in disruptive technologies. His passion is to invest and be part of technologies that make a difference in the way people interact and conduct business online.
“SillyMonks has shown tremendous potential in its growth and is well placed to be part of new digital revolution in India in the coming years, says Sreenivasa Musani. We are excited to be part of SillyMonks and the fast growing digital transformation space in India”.
The deal, which marks the largest HNI investment in this space in South of India will help SillyMonks augment their market leadership and to introduce new digital media properties.
Revealing the details Sanjay Reddy, Founder and Managing Director of SillyMonks said“The funds raised will further secure and maximise ROI for our clients, by delivering new digitally immersive online experiences to a highly connected customer base and help create innovative original content.”
In the immediate short term SillyMonks plans to launch six web series properties on their YouTube channel “SILLY TUBE” encouraged by the stupendous success of first Telugu web series MuddapappuAvakaiproduced by Pink Elephant Pictures under SillyMonks Network.
A start-up venture founded by Media & Entertainment Specialist Sanjay Reddy and Anil Pallala inSeptember 2013, SillyMonks is keen to expand its domination in content aggregation, customization, and deployment of contentsin audio and video format for mobile carriers, devices, and music stores both in India and in world markets.
Outlining its services and brand strengths in the market Sanjay said "We have a multitude of popular digital media properties like MonkStar and over 650+ YouTube Channels with original content.We are looking at adding compelling content and options to brands and agencies eager to connect with the critical and growing digital demographics, in the online &television market space with a profitable combination of technology and content.”
The digital media product consumption in this segment is currently pegged at INR 8000 crores ($ 1.2 Billion) and expected to grow at a CAGR of 33.5% to reach a mind boggling number of INR 25,500 Crores ($ 3.9Billion) by 2020in India. Our main focus is to eye a significant pie of this cake.
In June 2014, SillyMonkshad raiseda nominal fund froman Angel Investor KorrapatiRanganatha Sai of Vaaraahi ChalanaChitram, a well-known producer and known for many movie hits like Rajamouli’sEega (Makhi)& Legend.
Explaining about the market and competition Sanjay says"We are transformers so competition is not a challenge for us".We are astrong player in the film marketing to music band production to promotion of different brands in the online market helping various stakeholders, ranging from SME to big film production houses - to musicians to content creators, to grow their digital footprint.
SillyMonks clocked revenues of INR 4.75Cr in 2015-16 and in the current year the company anticipates 50% growth.
SillyMonks have strong footprints in producing content for digital & TV and Film production.It also owns a Music Company which is in original music space called Monkstar Music that provides a platform for independent artists. SillyMonks is present in South India, Mumbai and Los Angeles.
SillyMonksMulti Channel Network (MCN) delivers approximately 100 Million + views in a month and addresses a social audience of 16+ million followers across various social media platforms. Revenues for SillyMonks come from its clients through YouTube advantage share, Retainership engagement including digital marketing & Mobile & Web designs. The company has witnessed a strong acceleration in its business since inception.
Besides being Google & Yahoo Partners in India, The startup has also Co-produced the Telugu movie named ‘OohaluGusagusalade’ ‘DikkuluChoodakuRamayya’ ‘Tungabhadra’ ‘Raja CheyyiVesthe” along with Angel Investor.
Fast Facts about SillyMonks Founders
Headquartered in Hyderabad SillyMonks(www.sillymonks.com) is engaged in the business of Digital Marcom, Publishing, Cinema, Television, Music and Events. The company also has presence in Hong Kong, Chennai, Kochi, Mumbai and Bangalore with foot print in Los Angeles.
Sanjay Reddy, Co-Founder & MD
Sanjay holds 25 years of vast experience in television and print media – Walt Disney, ESPN Star Sports, Times of India, Sony TV, Zee Network, & Sun Network – He is also a producer of a Hindi film ‘Dhoop’,launched Gul Panag in Bollywood& acted in ten telugu films. He is also a member of many elite core committees. (https://en.wikipedia.org/wiki/Sanjay_Reddy)
Anil Pallala, Co-Founder & COO
Anil holds an extensive experience of 15 years in audio industry worked with companies like Super Good Films& BIG 92.7 FM &Digital Marketing as his career graph depicts many roles. He also co-founded Whacked OutMedia which is a MCN with You Tube.