Cisco Buys Stake In Indian Media Startup, Qyuki

Social networking and creativity coming together beautifully to make a meaningful artistic expression - That is what new Indian social networking and media startup, Qyuki is aiming at. The service hasn’t gone live yet but work is on behind the scenes.

According to its website, Qyuki is a new media company that has been founded by Film Director Shekar Kapur of Elizabeth fame and Oscar winning musical genius, A.R Rahman. The names of these celebrity founders has made everyone curious about the startup.

More news has come in today about networking hardware major, Cisco buying stake in the company. Cisco has holdings amounting to 17% in the firm. The financial transactions in the deal are believed to be some Rs. 27 crore ($5.47 million). Qyuki aims to be the content creators hub in India as opposed to social networks like Facebook and Twitter. It has been described as a creative social media platform which is aimed at providing users a shared platform to co-create quality content.

Speaking about Qyuki, Shekhar Kapur said, “Qyuki will not be as inert as Facebook or as passive as You-Tube. We want to shepherd people’s creativity to create new films and score music collaboratively. We have created an open platform where people can come in and fasten themselves on the technology trunk”.

We are expecting the service to launch in few months. The website shows a good number of vacancies which are live.

Last year Cisco predicted the explosion of mobile internet usage in the country. Guess their prediction was correct as everything could be searched & explored via mobile internet. In the year 2010, Cisco also went social with MyHumanNetwork which was based on the Google maps. Cisco is already gearing up to invest a whopping Rs. 300 crore ($60 million) per year in the Indian Startup segment starting this year. This is very good news for budding entrepreneurs.

Will this new social and creative media network work in India? Do let us know your thoughts.

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