Happy to announce our investment in chakpak.com – the largest online community for Indian entertainment. 
We are excited to partner with Accel in financing the company, largely because:
- Entertainment is a high usage and engagement category – As per Comscore, 18 million visitors in India already access entertainment content. Add to that the NRI base, and that number should be in 25-30M range.
- Entertainment is also a high spend category, with over $36B spends on media and entertainment as per PwC FICCI Frames report. Some sections of this are addressable by chakpak over time – for example, movie marketing alone is a $500M market.
- Efficient execution – over 5 million users access chakpak services every month, and chakpak team has done a great job of generating such levels of usage without spending a dime on marketing. They “get” the internet.
And to top it all, we are already getting our share of brickbats on making the investment, which means we might have just done something right 🙂
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Hi Alok,
Its not mentioned any where. What is the size of the deal? I hope thats not confidential.
Vamsi.
Thanks Alok.
Look forward to how Chakpak would scale post investment. All the best to Canann and Chakpak.
Regards,
SG
Thanks for some great comments and suggestions!
Saurabh – The closest estimate we have on movie marketing is about $500M as outlined by PwC. Most of it is offline today. We do not intend to compete with agencies but work through them. I do recognize the possibility that chakpak may have to build/consolidate some offline assets here over time. On traffic numbers, the challenge is that most of these measurement tools don’t aggregate social media numbers – that is one of chakpak’s strengths, and we don’t see any of our competitors there. Santabanta could possibly be larger, don’t know – haven’t evaluated them, and their footprint is somewhat different. Absolutely, please go ahead and touch base with the team.
Nik, currently we are thinking about ticketing is to partner with the aggregators rather than to build our own back-end.
Chou – good point. We should purge videos that no longer exist. We are not thinking of becoming a video hosting site ourselves – that business burns a lot of money, and the way advertising in moving in that space, I think one can own revenues without hosting content.
Congratulations to Chakpak and Canaan.
Alok seems to have nicely put down his thoughts as an investor in Chakpak. I appreciate his efforts as this is going to help other entrepreneurs understand ‘how investor evaluates’ – practical knowledge with live example!
Congratulations. kindly ignore the bioscope note above. that’s NGO arena.