Intel Capital picks up stake in digital entertainment company Hungama.com
Telecom Lead India: Intel Capital has invested in Hungama.com, a digital entertainment company with over 2.5 million pieces of content across genres and languages in the form of music tracks, movies, music videos and mobile content.
Hungama Movies has more than 5,000 Bollywood, Hollywood and regional movies and television series available in both HD and SD quality, powered by Intel Insider.
With more than 20 million users, the website is accessible from a PC along with mobile, tablets, TVs and other connected devices.
Intel did not disclose the financial details of the stake in Hungama.com.
On Tuesday, Intel Capital also announced its investments in 9 more innovative technology companies. Intended to help these companies grow to the next level, the investments will total approximately $40 million.
“Business deals happen when Intel Capital brings together our vast global network with our portfolio company innovators,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president.
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