Chitramala.in, a portal for Bollywood and Telugu film industry gossip, has received Rs.50 lakh from Confidance Holdings.
Moukthik Kiran Reddy from Chitramala said approximately 60% of its readers originate from different parts of India, including some user traffic from foreign destinations such as USA, Australia, Canada and UK.
The monthly unique visitors count for Chitramala.in grosses 1 million every month. "This investment from Confidance Holding will help Chitramala.in become one of the biggest Indian digital entertainment portal across the globe."
Both the companies stated that there will be no management shuffle.
The deal comes at a very important juncture, especially for Chitramala.in, as it will help them revamp their presence and cover more sections of the entertainment industry.
The investment will also enable Chitramala to compete with other entertainment portals such as Pink Villa and Ragalahari in terms of quality content.