Ab invests $71mn in ziddu.com

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Amitabh Bachchan along with his family have made their first significant equity investment in an overseas company. The Bachchans have invested $71 million (approx Rs 450 crore) in acquiring a minority stake in Singapore’s Meridian Tech Pte Ltd, which owns Ziddu.com. Ziddu.com is a free cloud storage, global wallet, social commerce and social gaming platform startup.

The firm was founded five years ago by Venkata Srinivas Meenavalli. “Mr Amitabh Bachchan and his family have invested in Ziddu. com at a valuation of around $71 million,” said Venkata Srinivas Meenavalli in a statement.

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