Avendus Capital Advises Saavn on Its USD 100 mn Fund Raise Led by Tiger Global.

“Music streaming is at the centre of the music industry, and India is one of the most important music economies in the world. With 2 million Androids shipping each week, music is driving data consumption and redefining mobile advertising. We are building the best-in-class mobile entertainment ecosystem, with music as the foundation. Our investors continue to be the best partners in the world. We’re excited to add millions of users to the Saavn family and deliver our long-term product vision across multiple platforms. Music is only the beginning,”

“Saavn continues to innovate consumer products designed for India’s growing mobile user base. The team has built a leadership position in a unique marketplace while at the same time developing a world-class music service. We’re excited to support Saavn as it continues to define India’s mobile entertainment market,”

With more than 90% of Saavn usage on mobile, the company is also announcing a significant update to its mobile products. The product updates include:

Personalized multi-language home screen, supporting 11 languages Infinite scroll on home screen “One-Click Play” on home screen New & Trending content along with enhanced personalization in “My Music” Additional Charts, including top “Rewind” charts by decade for all 11 languages Enhanced music tagging and music chat features for Saavn Social “India will be a very large digital entertainment market. We believe Saavn with its strong leadership team and market leading product will continue to be the leader and define the space,”