Arré is turning out to become the multi-genre, multi-format digital destination with the investment of Enam Group. The latter has acquired a significant minority stake in Arré three weeks ago. Entrepreneur Ronnie Screwvala, who had already thinned his stake in the company in February last exits.
Enam Group has acquired the residual stake of Unilazer Ventures and Screwvala in Arré, UDigital’s digital media brand. With this new investor, Arré will be wholly redesigned and will be even diffused outside India.
“Arré and Enam have a unified vision of making Arré the definitive multi-genre, multi-format digital destination for a whole new world of digital consumers across India and, going forward, in geographies outside India” said Arré managing director B Saikumar.
Arré is a digital media venture originally cofounded by Ronnie Screwvala and former Network18 executives’ B Saikumar and Ajay Chacko. In February, the company had realigned its shareholding pattern with Saikumar acquiring controlling stake in the company while Screwvala continued on board as a minority shareholder. Arré launched its website and social media offerings this April and has Ajay Chacko and Sanjay Ray Chaudhuri as its other founders.
“We are not disclosing the shareholding of our partners. The value of the deal with Enam is also not being disclosed,” said Chacko.
Enam has been a past investor in Zee TV, TV18 and Balaji Telefilms. This deal marks its first significant investment in the private equity domain in the media sector. Arré will be reinvented. It will express itself across mediums, from text to graphic art to podcasts and video in multiple genres such as reality and fiction, factual and opinionated, as well as pure entertainment on multi-platforms.
“Digital content consumption and advertising, especially video advertising, has been witnessing a stupendous growth curve. Better broadband speeds synchronous with the rollout of 4G, along with the mushrooming of digital payments, could also throw open the possibility of consumer pay revenues in this space. Arré is well placed to exploit and leverage these seismic shifts in consumption and exploit the various monetisation opportunities in this fast-growing digital space” said Enam