iWorld
Spotify valued at $4 billion
MUMBAI: Spotify, the music streaming giant, could well be the latest startup to join the $4 billion valuation club.
The company has reportedly secured $250 million in new financing, valuing it at more than $4 billion, according to The Wall Street Journal. Spotify previously raised $100 million almost exactly a year ago at a $3 billion valuation.
An earlier report had suggested that Spotify was looking to raise a new round of funding at a more than $5 billion valuation, but clearly that was too bullish.
While Spotify’s popularity and revenue has grown in recent years, it continues to lose money. Spotify reportedly doubled its revenues year-over-year in 2012 to nearly $600 million, but its net loss increased to $77 million. The extra funds may provide Spotify with more space to continue its rapid expansion even as it continues to bleed money.
The $4 billion valuation mark seems to be the benchmark for tech startups right now. Pinterest was recently valued at just shy of $4 billion, Snapchat has reportedly turned down acquisition offers of up to $4 billion and Uber is closing in on that milestone as well.
iWorld
Chahal Spins a New Tale as Story TV Chief Story Officer
India’s largest micro drama platform ropes in cricketer to script next innings.
MUMBAI: From googlies to plot twists, Yuzvendra Chahal is ready to spin a different kind of story. Story TV, positioned as India’s largest micro drama platform, has appointed the Indian cricketer as its chief story officer, marking an unconventional crossover between sport and snackable storytelling. The move signals the platform’s ambition to blend pop culture with its rapidly expanding short format content ecosystem.
In his new role, Chahal will collaborate closely with the Story TV team to shape fresh ideas, concepts and narratives across genres. Drawing on his experience as a celebrated sportsperson and public figure, he is expected to bring an insider’s lens to stories spanning romance, love, sports, thriller and beyond.
The appointment comes as micro drama continues to gain traction among younger, mobile first audiences who prefer compact, high impact storytelling over long format viewing. Story TV currently boasts a library of more than 600 micro dramas, covering a wide spectrum of themes designed for quick consumption without sacrificing emotional punch.
While details of how Chahal’s involvement will unfold are expected to be shared soon, the platform has hinted that his association could influence both content development and the broader storytelling approach within the format.
For Chahal, known as much for his on field flair as for his off field personality, the role offers a fresh innings. And for Story TV, bringing a cricketer into the writers’ room may just be the twist that keeps viewers hooked for the next episode.
