Micromax invests in TIL owned music streaming platform Gaana

Micromax invests in TIL owned music streaming platform Gaana

Micromax, domestic phone manufacturing major has made an investment in Gaana.com, a music streaming and broadcast platform. With their planned investment, Micromax will be pre-installing Gaana on its all smartphones range.

Significantly, this can be their first round of outside fund round being secured by Gaana. This investment round will be following Micromax uses to secure their unlimited downloads without any advertisement and its access over 10 million songs with their ad supporting streaming.

Gurgaon- based company had created their planned investments in travel platform Ixigo, MiMedia, Scandid, HealthfyMe and others to develop their related software deployment enhancing the consumers presence.

“Gaana is becoming a household brand for music, and in partnership with Micromax, we will strengthen our footprint, helping us reach our goal of 100 million Indian users, listening to millions of songs via Gaana. Micromax is the most popular smartphone company in India, passionate about providing its consumers with the best experiences. It’s a great opportunity to bring our service to their users,” said, Satyan Gajwani, CEO of Times Internet.

Gaana, The Times Internet-incubated is reported to have 20 million active users and over 700 percent annual growth consuming and above 10 million songs in over 45 languages and 45 radio stations. Micromax  is reported to  ship over 3.5 million mobile phones on their monthly basis.

Detailing its strategic investment in Gaana, Rahul Sharma, Micromax Informatics Ltd said, “We at Micromax have been consistently integrating the best in class services to our smartphones and are trying to build an ecosystem of connected devices in a connected world. India is a music loving country and the youth today are hooked on music for at least two-three hours a day through their smartphones. Gaana brings the widest selection of songs across genres and we are proud to announce our strategic partnership with them to provide our neo users an uninterrupted access to latest tunes and transcend them into the world of music.”