Top Story


Home >> Digital >> Article

Saavn adds former Vodafone CEO Arun Sarin as Investor and Strategic Advisor

Font Size   16
Saavn adds former Vodafone CEO Arun Sarin as Investor and Strategic Advisor

Saavn, India’s leading music streaming service, is today announcing new investment from former Vodafone CEO Arun Sarin. Bringing years of telecom expertise to the mobile-focused company, Sarin joins Saavn as market demand for music streaming in India increases. Saavn is also announcing new milestones today, including a 10x increase in daily active users in India since 2014, a new average of a quarter billion streams per month, and a catalog of 20 million tracks.

In July, Saavn announced a $100 million Series C and reported 14 million monthly active users. In just under two months, the company has grown to nearly 18 million monthly active users, the vast majority of whom are in India.

“As we continue to build a world-class mobile entertainment company, we believe in collaborating with the best partners in the world.  With over 90% of our usage driven by smartphones, Saavn users are moving data plan transactions and driving data engagement at an incredible pace.  In the coming months, you’ll see us work more deeply with carriers in India and additional territories,” Rishi Malhotra, Co-Founder and CEO of Saavn, said. “We’re honored to have the support of Arun, who brings unmatched industry insight, experience, and instincts to our business.”

As CEO of the global telecom giant Vodafone plc, Sarin was one of the first to predict the mass adoption of mobile phones in emerging markets. His support for Saavn underscores a similar trend underway in the music industry.

“Music streaming is a core app on today’s smartphones, and Saavn is superbly positioned to grow rapidly in the fast expanding smartphone market in India. As an innovative and nimble music streaming company, at the heart of one of the world’s most valuable markets, Saavn hits all the right notes. I look forward to working with the Saavn team on the company’s continued progress,” Sarin said.

Sarin joins Saavn on the heels of the company’s latest funding round in July. Saavn’s Series C round was led by Tiger Global Management, with participation from Bertelsmann India Investments, Steadview Capital, Liberty Media, Mousse Partners, Quilvest, and additional Hong Kong-based hedge funds.

Saavn is also announcing the following growth milestones today:
•         10x increase in daily active users in India since 2014
•         20 Million + songs
•         Over 250 million streams per month
•         A global team of 145 people across 5 offices
•         18 million monthly active users

Tags Saavn Arun Sarin Rishi Malhotra

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Meanwhile Radio City and Radio Mirchi ruled Bangalore and Kolkata respectively

Pankaj Belwariar, who recently resigned from the post of Vice President Marketing at Sakal Media Group, has now joined Rajasthan Patrika as the Head of Marketing in North and East region.

A look at Vivo’s ad campaign with their all-new brand ambassador Aamir Khan, which has fetched them a whopping 21 million views on YouTube