Times Internet

Like most OTTs, it is yet to break even. Unlike most, it doesn't have deep pockets

Platform is not profitable today but will grow rapidly, says vice chairman of Times Internet.

The start-up will use the funds to scale the offering and grow the newly-launched Live Classroom product

Times Internet Limited has infused fresh capital of Rs 2.48 billion into its online music streaming service Gaana as it prepares to battle giant Amazon's Prime Music service which was launched in India late last year.The investment comes hot on the heels of Amazon signing deals with Bollywood music labels Zee Music and T-Series to make all their content available to its Prime members. Prime Music is currently available to users of Amazon Echo devices but will roll out more broadly in the near future.The disclosure of the fresh investment in Gaana to the Registrar of Companies (RoC) was sourced by Business Standard through Paper.vc.Gaana is the fastest growing business in Times Internet's portfolio, with the company claiming that it had 40 million active monthly users in September last year. The service is considered to the largest of its kind in India, offering users both free and paid access to Bollywood and regional music on its app.Amazon, whose Prime Video has already become the ..

Times Internet has invested in and developed Ad-Tech platform

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