iTV Network Acquires Majority Stake in Radio Sports Flashes

New Delhi, April 8, 2021: Sports Flashes, India's first online Sports radio channel dedicated to broadcasting sports content including live updates and 24x7 chat commentaries, has been taken over by iTV network. Pro Sportify Holding Pvt. Ltd, a subsidiary of iTV Network entered into an all-stock deal to become the majority stake holder in Radio Business of Sports Flashes.

With this, iTV Network through Pro Sportify Holding Pvt. Ltd. acquiring a majority stake in Radio Business of Sports Flashes and consolidating its presence in the fast-growing Sports Media segment in India.

On this occasion, Kartikeya Sharma, Founder of iTV Network said, "Sports Flashes comes as a strategic move in addition to our investments and diversified presence in Media & Sports. Sports Flashes will reinforce our position as a pioneer in the Indian Sports ecosystem."

On the occasion, Raman Raheja, Founder, Sports Flashes said, "We are happy to be a part of the iTV Network. What started as a unique sports content platform, Sports Flashes is the leader in online sports radio space with the best content available for sports enthusiasts. With 50 millions sports buffs already following our Sports channel, we will now expand our reach in vernacular space through the iTV network. Using the Video production strengths of iTV, we will now present Radio with a Video screen.

Sports Content App Sports Flashes Raises Angel Round

New Delhi-based India Sports Flashes Pvt. Ltd, which operates sports content app Sports Flashes, has raised an undisclosed amount in angel funding from Vikas Bajaj, joint managing director, Bajaj Motors Ltd, and Amit Kharbanda, founder, MyBox Technologies Pvt. Ltd.

The firm will use the funding primarily for marketing and to expand its team and domestic operations, said Raman Raheja, co-founder, Sports Flashes. The funding round has been facilitated by Anup Kalra, founder of startup consulting firm Ambit B2B, he said.

Sports Flashes offers sports TV, live scores, streaming videos, news, views, highlights, statistics, live updates and commentary. The app, which is available on both Android and iOS, has formed streaming partnerships with 13 international sports associations and bodies.

The company was founded in August 2016 by Raman Raheja and Keshaw Sinha. Raheja is an entertainment and sports professional with more than 20 years of experience. He has been associated with Commonwealth Games, World Kabaddi League, International Indian Film Academy Awards and Indian Premier League, among others. Sinha comes with over 20 years of experience in the technology domain and has worked with companies including HMV Saregama, Zapak.com and Network 18.

Sports Flashes claims to have seen more than 300,000 downloads to date and aims to touch 1 million downloads by end of the year. The app is currently available to users in five languages. It is also looking to offer content in 11 languages within a year.

“We are looking to create and promote hyperlocal sports content across 18 states and acquire Indian sports content covering at least 20 sports categories. We have virtually no competition as of now in the exclusive sports streaming and multi-sports content space, though Sportskeeda is a worthy benchmark to understand the market dynamics,” Raheja said.