On the back of a number of successful show and other content being produced, with the latest being the huge success of Kota Factory, a satirical take on the education system, The Viral Fever (TVF) has seen its valuation doubled by a fresh investment from Tiger Global. The New York based venture capital firm is already the largest existing investor in TVF, with the last investment being of $ 6 million, with a valuation of $ 40 million, which represented a down round. In the regulatory documents sourced from data intelligence platform paper.vc, it is shown that the new investment made has been of $ 5 million, valuing the Series D round at roughly $ 82 million.
While there has been no official confirmation from TVF on the matter so far, this reported investment represents a huge upturn in the fortunes of the company popular for YouTube sketches and web series. In February 2016, TVF had raised $ 10 million from Tiger Global valuing the company at $ 61 million. In an investment round in July last year, the company saw its value decrease, with an investment of $ 6 million coming in at a valuation of $ 40 million. The latest investment and valuation should make for good news for a company that has faced its fair share of controversies over the last couple of years.
Right from 2015, the media company had been garnering a lot of praise for the different sketches and videos made for YouTube. The groundbreaking moment came with the launch of its web show Pitchers, which dealt with the struggles Indian entrepreneurs face when starting a new business. Furthermore, shows like Permanent Roommates and Tripling helped in bolstering their reputation. However, the company was hit by major controversy when founder Arunabh Kumar was accused of sexual harassment by multiple women. While Kumar was arrested and then let off on bail, a culture of male-domination, ‘dude-bro’ atmosphere and misogynistic practices were alleged in TVF.
Kumar eventually resigned in June 2017 and since then the management has been trying to get the company back on track. With continuous backing from its biggest investor, and a slew of shows gaining traction slowly, TVF seems to be gaining the lost ground. At present, the subscriber count for the YouTube channel of TVF stands at a little over 6 million, and the company will be hoping that they can continue on the recent upward trajectory in terms of viewer response and company valuation.