Social media site Qyuki, promoted by music director A R Rahman and filmmaker Shekhar Kapur, has appointed Samir Bangara, a former top executive at Disney UTV as its new Chief Executive Officer.
Bangara, who was the Managing Director of Digital business at Disney UTV, will replace Poonacha Machaiah at the company. According to reports, Bangara has also invested in the company. The amount of investment wasn’t disclosed.
Qyuki, which is a platform for Indian youth to showcase their talent, find mentors and discover new things, had raised Rs 27 cr from networking giant Cisco in February last year in exchange of 17% equity in the company.
The site went live five months ago and had plans to generate revenue through brand sponsorships, content placements, marketplace and advertising.
Will this new appointment be the beginning of a pivot? Guess we will find out soon.