Printline Media concludes first round funding with stellar list of investors

Printline Media Pvt Ltd, a venture founded by Shekhar Gupta, is pleased to announce the conclusion of its first round of funding with a stellar list of investors.

N.R. Narayana Murthy, Ratan Tata, Nandan Nilekani, Uday Kotak Family, Kiran Mazumdar Shaw, Bangalore-based tech entrepreneur Rajiv C. Mody, Paytm founder Vijay Shekhar Sharma, Chairman, LVMH Asia Ravi Thakran, IIFL founders Nirmal Jain, R. Venkataraman, Karan Bhagat and Yatin Shah are eminent investors in the venture.

Printline Media will publish ThePrint, a multi-media, mostly digital news platform. Widely respected and accomplished journalist Pranab Dhal Samanta is its Editor.

ThePrint is built on three central beliefs.

First, that there is a large and growing audience of curious, critical, aware and questioning Indians who value the news they need, from the names they trust.

Second, there exists a wide philosophical and intellectual space that is socially and economically liberal and not doctrinaire Left or Right. A space for non-hyphenated liberalism.

And third, there is no contradiction between good journalism and the market-place.

This opens possibilities across platforms for serious, substantive and probing journalism, with a formidable opinion punch.

“We at ThePrint are gratified that people of such eminence have backed this idea,” said Shekhar Gupta. “All of them have brilliant track records as entrepreneurs and take their money seriously. This gives a special edge to their endorsement at this early stage.”

BMR Advisors and KLaw acted as transaction and legal advisors, respectively, for the raise.

ThePrint team is growing at its new editorial and corporate office on New Delhi’s so-called ‘Fleet Street’ – Third floor, 9 & 10 Bahadur Shah Zafar Marg.

 

4 Comments

  1. All the best. Doubtful if marketplace can tolerate good journalism. Hope Print won’t cozy up to the ruling regimes or corporate interests. Will the investors keep their paws away from the editorial table?

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  2. The list of investors is truly impressive .With Shekhar Gupta’s sense of duty towards public service with honest & bold jouralism Printline Madia can capture philosophical & intellictual space which is one of the objectives of Printline. Lot of media is resorting to hit & run stories hoping to be.. quick grow
    rich. Printline should not get in to journalism based on squeky & leaky sources..has already happened once. It can be passed of as an abression once but not too many times. Printline must rise above & be senstive to it’s own objectives . Wish Printline all the success to usher in a high bar in jourlism & enhance the image of emerging apowerful India .

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  3. “Second, there exists a wide philosophical and intellectual space that is socially and economically liberal and not doctrinaire Left or Right. A space for non-hyphenated liberalism” – I think in the animal world, such people are called chameleons. Let us first of all say that there is no homogenous Left or homogenous Right. There is diversity and diverse opinions everywhere. Pinarayi’s biggest critique in Kerela today is Kanam. Both are from ‘the left.

    And there is not one person – liberal or illiberal – who does not carry a bias. I have a clear sympathy to ideas that are socialist, that are internationalist. That does not make me good or bad. What kills me the most is this proclamations about ‘neutrality’. There is nothing called as neutrality in the real world and bias is not bad. As long as you are clear about your editorial biases, as long as you make your readers aware of it – I see no harm in reading any article from you. If you don’t, I will still continue to read and make my own judgements about you.

    Looking at your list of investors, I wonder whether you will ever do a story that challenges some of the business practices of your funders. But glad that you at least named them in the open. Now my question is – will you dig deeper into allegations of land grab against Infosys? Of visa fraud in US? Will you look at Vijay Shekhar and allegations about over-invoicing at One 97? Maybe these are just allegations. Maybe they are not. As readers, we expect the media to investigate and report back.

    For that, in an ideal world we should have had people run cooperatives rather than ‘funded’ media enterprises. But media cannot run in a silo. For a cooperative media model to work, we need the society to accept a cooperative way of life and living. Right now it is me and myself and my personal propserity. Right now it is greed packaged as need and chasing it in the name of ‘aspirations’. So why blame just the media. Right? We harvest that what we sow.

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