New technologies and the global market is bringing new opportunities for collaborations. New business ventures are exploring the new ideas created by the latest technological advancements. One such tie-up happened between Uday Shankar, the Ex-chairman of Star India, and Lupa Systems owned by James Murdoch.
Lupa Systems is a 2-year-old organization with a key portfolio of technology investments. It was founded in India by Murdoch.
About the New Venture
As per the reports, Uday and James have come together to form a new venture to explore new opportunities in technology, and media.
As per the Financial Times Report, the venture will a large level of business. Other than media, the new business will also explore the opportunities in the field of education and health.
They did not disclose the name of the venture. There is no clarity about the exact operations of the new business.
As per James Murdoch’s official statement, it will be a high-priority project for him. Lupa Systems will work on it as a special venture.
James Murdoch is a known name in the media industry. His father Rupert Murdoch is one of the media tycoons.
Uday Shankar and James Murdoch have a past association history as well. They worked together in Star India. The company became the largest media venture because of its efforts. James is working in India for the last 20 years. Murdoch worked earlier as CEO of 21st Century Fox.
In 2018, Walt Disney did one of the biggest cash acquisition deal. It acquired 21st Century Fox with a whopping $71 billion cash deal. After this deal, Hotstar, 21st Century Fox, and Star India all came under the umbrella of Walt Disney.
A few months back, Shankar left Disney to explore his entrepreneurship journey. Finally, his dream project is on board with Murdoch Jr.
Shankar-Murdoch Duo Views about Partnership and Past Experience
James and Shankar both have a high appreciation for each other. James said,” he is quite happy to have a partnership with Shankar. We both had a successful collaboration earlier. Colleagues, shareholders, and customers appreciated our partnership earlier. The current partnership will also bring new innovations, and customer satisfaction.”
Shankar also praised Murdoch a lot. He said, “We both enjoyed the successful partnership in Star India. We were lucky to work with Indian Talents who had a global vision. We are here to disrupt the old system with cutting edge technology. We are confident to bring great business opportunities that will help society.”
Murdoch cleared that it will not be venture capital. A new partnership will focus on the operations to leverage mobile data growth in India. He further stated that geographically, the company will target the whole of Asia. India will be the main focus of the operations.
Shankar believes in creativity and the latest technology to make the world a better place. He has dedicated this new project to his mission of giving back to the community. He wants to help the country and industry with his new venture.
Shankar further added that the best way to help the country is to mentor the new generation entrepreneurs. These new businessmen can help the country in transformations. He is planning to take the help of global investors to fulfill his dream.