Desi Hits gets $5M more for South Asia entertainment portal

Desi Hits, a company that delivers online entertainment in South Asia featuring celebrity interviews, music videos, podcasts and blogs, said it has raised $5 million in its second round of financing, from Draper Fisher Jurvetson, Trident Capital and D.E. Shaw Group.

The two-year-old company is based in San Francisco, but targets the South Asian (India) or “Desi” youth culture, and says it has more than 10 million hits per month.

“In one short year we have also seen the West’s interest in South Asia skyrocket,” said the company’s CEO Anjula Acharia-Bath in a press release. “We are opening doors to Western acts that want to enter the huge Indian market in an authentic way.”
The company recently featured a podcast with rap superstar 50 Cent prior to his concert in Mumbai.

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Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.

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