Amitabh Bachchan and His Family Picks up Stake in Singapore-based Ziddu.com

Amitabh Bachchan and His Family Picks up Stake in Singapore-based Ziddu.com

HYDERABAD, India and SINGAPORE, May 20, 2015 /PRNewswire/ --



Ziddu.com, is an empowering free cloud storage, global wallet, social commerce and
social gaming platform operated by Singapore-based company Meridian Tech Pte Ltd.



(Logo:
http://photos.prnewswire.com/prnh/20150520/744936)




The Bachchans, one of Bollywood's leading families, were making their first
significant equity investment in an overseas company. As part of their personal
investment, the Bachchans have picked up a minority stake in Meridian Tech Pte Ltd. of
Singapore, which owns Ziddu.com [http://ziddu.com ], empowering free cloud storage, global
wallet, social commerce & social gaming platform startup. The firm, which also offers a
micro payment platform, was founded five years ago by Venkata Srinivas Meenavalli. "Mr
Amitabh Bachchan and his family have invested in Ziddu.com at a valuation of around $71
million," said Meenavalli.



He added, "I'm very happy and excited that they have reposed confidence and trust in
Ziddu.com." He also said (quoting Google Analytics
[http://www.ziddu.com/img/ga/Ziddu_google-analytics.pdf ]) that Ziddu was among the top
five file-sharing sites across the world, generating 1.2 billion page views with visitors
from more than 225 countries. The company logged revenues of $20 million in calendar year
2014. The deal was executed on Monday.




For more details contact:
Mr. Vekata Srinivas Meenavalli
Mobile: +6597396547 (Singapore); +91 7702582777 (India)
Email: venkat@ziddu.com; info@ziddu.com




Photo:
http://photos.prnewswire.com/prnh/20150520/744936


Photo:http://photos.prnewswire.com/prnh/20150520/744936
http://photoarchive.ap.org/
Meridian Tech Pte Ltd.


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