Suhel Seth, Managing Partner, Counselage, and his younger brother Swapan Seth, CEO, Equus Red Cell, have jointly bought equity in www.thebig.tv, which aims to be a step ahead of YouTube by creating its own content. The new venture is completely separate from the existing advertising business that Swapan Seth is handling.
Ten years after they started Equus, the Seth brothers have bought equity in the portal, which is managed by Alankar Jain, a former NDTV professional with years of experience in content creation and digital manifestation of that content.
The other major equity holders are Gaggan Duggal, who has created ‘Matrix’, a brand of international SIM cards that have a subscriber base upwards of 65,000, and Chetan Sharma, a media veteran who has worked with NDTV and Aaj Tak and is currently in a consulting capacity with Zee TV.
Swapan Seth commented, “With the progressive emancipation of bandwidth and the acutely swift growth of the Internet, we see a long term play in this space. Www.thebig.tv is also very different from a concept like YouTube. YouTube only uploads third party provided content. With www.thebig.tv, there is a lot of content creation from the site itself. Furthermore, over time we will also be offering films that can be downloaded.”
He further said, “We also believe that tribes are here to say. Look at Facebook and Orkut -- they are nothing but e-tribes. We believe that with the content creation expertise residing within the founding team, our own linkages with advertisers, as well as with access to 65,000 customers of Matrix, we have a robust beginning. The look and feel will progressively evolve. We believe that all the stakeholders form a charming constellation of competencies, and these will be put to play.”
The Seth brothers made it clear that the business was their personal investment and had absolutely no linkages with their interests in Equus.
Suhel Seth said, “With scarcity of time and the abundance of options, convergence that offers convenience is the only way forward in consumerscapes.”