afaqs! news bureau

Ronnie Screwvala reduces his stake in Arré

Co-founder B Saikumar takes controlling stake though Screwvala's investment in the digital venture continues.

As a precursor to the launch of the digital media start-up Arré, the founders have re-aligned their shareholding. B Saikumar, managing director and co-founder, has taken controlling interest in Arré, while Ajay Chacko will continue as chief executive officer and co-founder. Sanjay Ray Chaudhuri, former director and co-founder at TV18, has now come in as co-founder in Arré.

Ronnie Screwvala reduces his stake in Arré
Ronnie Screwvala reduces his stake in Arré
On this development, Ronnie Screwvala who will continue as an investor with a significant minority shareholding, says, "Arré is all set to launch and we are excited about its potential and trajectory. I am pleased that Saikumar and team are taking a controlling shareholding in Arré." Screwvala also adds that he will continue mentoring the leadership team.

Saikumar adds, "I am thrilled to welcome Ray C (Ray Chaudhuri) aboard as co-founder, and we are honoured to have Screwvala continue to guide us."

Arre which is set to launch in the next few weeks, has recently released the trailer of its first show, 'I Don't Watch TV', on YouTube. In December, Arre had acquired Apalya Technologies which enabled it to get access to Apalya's online video streaming products including myplex and Mobile TV.

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