Reliance Industrial Investments and Holdings (RIIHL), an entirely owned subsidiary of Reliance Industries, has invested in New Emerging World of Journalism Private (NEWJ), a start-up that curates and produces video content material for smartphone customers. As preliminary tranche, RIIHL has subscribed to 30,000 fairness shares and 125 obligatory convertible debentures for complete money aggregating to Rs 1.03 crore and consequently NEWJ has grow to be a subsidiary of RIIHL and RIL, an organization assertion mentioned.
The exponential progress in the video content material market supplies large alternative for progressive visual storytelling in India and NEWJ intends to fill this demand for high quality content material in social and digital media house. The enterprise was based by a workforce of younger entrepreneurs led by Shalabh Upadhyay, the assertion added.
On the rationale behind investing in NEWJ, RIIHL mentioned the success of Reliance Jio, one other RIL subsidiary, has led to a meteoric rise in digital media consumption in India, which is altering consumer behaviour and knowledge consumption habits. The start-up intends to serve these upcoming younger untapped markets. Jio’s 4G community supplies direct entry to audiences consuming knowledge, presenting an enormous alternative for seamless content material curation and distribution.