Cisco has invested in Qyuki, a digital media startup by A R Rahman and Shekhar Kapur. As per ET, Cisco made an investment of Rs 27 crore in Qyuki, for 17% equity (i.e. valued at INR 160 Cr) in the creative social media platform that is expected to go live in May.
Qyuki will enable cocreation of creative content enabling users to cocreate music and add lyrics/music etc. independently.
“Qyuki will not be as inert as Facebook or as passive as You-Tube. We want to shepherd people’s creativity to create new films and score music collaboratively,” [Shekhar Kapur]
Another Indian startup, Muziboo also offers a similar service, though one would expect Qyuki to bring the marketplace approach to creative business and bring music producers to the table.
[Thanks Dhruv Goyal for the tip.]