City-based start-up HeroTalkies has been acquired by YuppTV for an undisclosed sum. Sources in the entertainment industry who are aware of the development said YuppTV was looking to strengthen its presence, content and database and the acquisition was a right fit. It is also learnt that the promoters and investors of HeroTalkies will now get an equity stake in YuppTV.
Started by V.S. Pradeep and V.S. Aathitiyan, HeroTalkies procures movies from those who hold overseas rights and releases them on a variety of platforms, including web browsers, Roku, iOS App, Android App, Apple TV and Amazon Fire TV for the NRI audience. YuppTV is an Internet-based TV and on-demand service provider of South Asian content, offering more than 250-plus TV channels, 5,000 plus movies and 100-plus TV shows in 14 languages.
Subscribers notified
Officials from HeroTalkies refused to comment on the takeover while the YuppTV team could not be reached for comment. HeroTalkies subscribers The Hindu spoke to said they received an email a month ago that said, “HeroTalkies subscribers have a new destination: YuppTV. Don’t worry, your existing subscription term will remain unaffected.” The email also provides a link to the YuppTV site. A customer care representative replied to a query on the redirection, saying: “HeroTalkies has been taken over. That is the reason you see YuppTV now.”
In 2015, actor Suriya’s 2D Entertainment and four other investors had given seed funding to HeroTalkies. YuppTV has also received funding from Emerald Media, a Pan Asian platform established by investment firm KKR for investing in the media and entertainment sector, wherein Emerald Media acquired a significant minority stake in the company for $50 million.
