Chiki Sarkar, former Publisher and Editor-in-Chief of Penguin Random House India, and Durga Raghunath, former Vice President (growth) at restaurant search service Zomato, have founded Juggernaut, a mobile-first publishing firm that counts Infosys Ltd Co-founder Nandan Nilekani, Fab India Promoter William Bissell, and Boston Consulting Group’s India Managing Director Neeraj Aggarwal among its investors.
Chiki Sarkar, former Publisher and Editor-in-Chief of Penguin Random House India, and Durga Raghunath, former Vice President (growth) at restaurant search service Zomato, have founded Juggernaut, a mobile-first publishing firm that counts Infosys Ltd Co-founder Nandan Nilekani, Fab India Promoter William Bissell, and Boston Consulting Group’s India Managing Director Neeraj Aggarwal among its investors.
Raghunath, a former Managing Editor at livemint.com, is the Chief Executive and Co-founder and Sarkar the publisher and founder of the venture that has raised Rs 15 crore.
“With William I knew that he was investing in startups, and he cared about books and ideas; so does Nandan and he also gets digital, so for him this was a bit of a winning idea. Neeraj again used to head BCG’s digital strategy, all of them saw the promise in it and I think that is why they have come in,” added Sarkar.
“Chiki Sarkar has a proven track record of attracting India‟s best literary talent, and I am very excited to be investing in Juggernaut, her new and innovative publishing house,” said Bissell.
India has 159 million smartphone users as on August 2015, according to a report published by Internet and Mobile Association of India (IAMAI) and consultancy firm KPMG. And e-books account for only 7-8% of publishing revenue in India, say executives in the publishing business. That does not mean there are few people who buy e-books. There are probably many. And much of the money is likely to be made by Amazon. That opportunity is what Juggernaut hopes to tap.
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