Contagious Online Media Network Pvt Ltd, the parent company of online video creator The Viral Fever (TVF), has raised $10 million from Tiger Global Management, one of the most active hedge funds in the country, according to the company’s filing with the Registrar of Companies.
Tiger Global has picked 25% stake in the company, the filing said.
Contagious Online Media Network was incorporated in August 2015 and has not completed even a year in operations but the deal has valued the company at $40 million or Rs 270 crore. For the period of August 3 to October 21, the company reported Rs 22 lakh of profit on a revenue of Rs 64 lakh.
US-based Tiger Global has e-commerce majors like Flipkart, ShopClues, Ola, Grofers and Quikr, among others in its portfolio of Indian companies.
Tiger Global entered India in 2007 and almost nine years later it has stake in over 18 companies across verticals such as e-commerce, digital media, app-based cab services, classified, and logistics.