Stage OTT Has Raised ₹1.5 crores for 0.6% equity + ₹1.5 Crores Debt @ 18% interest From Shark Tank India season 2. When they entered Shark Tank India, Vinay Singhal, Shashank Vaishnav, and Parveen Singhal asked the shark for 3 Crores in exchange for a 1% equity stake. Shark was introduced to their team in Haryanvi fashion by Parveen. At a valuation of INR 250 crores, Aman, Namita, and Peyush offered 1.5 crores for 0.6% equity and 1.5 crores in debt at 18% interest. The businessman accepted this offer.
About Stage OTT
The stage is Indore based, an OTT entertainment portal that offers material in regional tongues. It unites speakers of the nation’s various dialects into a single platform and offers them entertainment materials in their native language.
It is the first OTT platform in the world to prioritise local dialect content. Every Indian dialect’s distinct culture contributes to India’s national identity. India has more than 19,500 dialects, but as of today, only 21 are spoken by the general public.
With a focus on original hyperlocal content, Vinay Singhal, Shashank Vaishnav, and Parveen Singhal launched the “Stage Ott” platform in 2019.
Before creating this OTT platform for Stage, Vinay Singhal was a co-founder of the most popular website in India, WittyFeed. YourStory claims that WittyFeed generated 2.5 billion ad impressions and 420 million page visits in two years. 2014 saw the launch of WittyFeed.
WittyFeed’s Facebook page was deleted in 2018. The founder decided to carry on with this project.
In 2019, Vinay, along with co-founders Praveen Singhal and Shashank Vaishnav, changed the name of WittyFeed to Stage OTT. Stage Ott has had 500 requests for startup investment refused. This business received its initial 3.5 crore investment from Inflection Point Ventures in March 2021.
The first OTT platform in the world that uses regional accents is called Stage. On this platform, the content is based on several regional Indian dialects.
Content on various dialect artists has been produced on this platform in dialect language. In addition to comedy, folklore, poetry, storytelling, and motivational material, they also have a tonne of original content in the regional dialects.
They collaborate with speakers of numerous Indian dialects, including Haryanavi, Rajasthani, Bhojpuri, Konkani, and many more. In the OTT stage, a tonne of stuff is complimentary, while VIP content requires a subscription.
1.3 lakh+ paid users are currently subscribed to it via the OTT platform. The annual subscription charge for this platform is 400. They intend to provide content in more than 20 languages within five years.
One of their online series has 6–8 episodes, each lasting 25–30 minutes, and costs 20 lakhs to produce. A movie costs about Rs. 20 lakhs to produce. Their 10% conversion rate.
They raised 10 crores in their initial round of funding in 2020, 20 crores at an 80 crore pre-money valuation in 2021, and 36 crores at a 250 crore pre-money valuation in their Series A round in 2022.
They made 3.85 crores in revenue in 2021, and their current monthly sales are 25 lakhs. In this, 10% of the people come from organic sources, and their cost per new client is 270.
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Problem Solved by Stage OTT
Stage is the first OTT service in the world to employ regional accents. All of the content on this site is based on several regional Indian languages. On this platform, dialect-language content has been produced by various dialect artists. They have a tonne of unique content in the local dialects and huge comedy, folklore, poetry, storytelling, and inspirational material. It will boost local cultures, talents and arts. This OTT is the first of its kind.
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