Business News Deals Digital

Former Vodafone boss Arun Sarin joins Saavn as investor and advisor

By | Published on Monday 28 September 2015


Former Vodafone CEO Arun Sarin has taken a minority stake in Saavn, and will also act as a strategic advisor to the Indian streaming service.

Announcing the news, Saavn CEO Rishi Malhotra told reporters: “As CEO of the global telecom giant Vodafone plc, Sarin was one of the first to predict the mass adoption of mobile phones in emerging markets. His support for Saavn underscores a similar trend underway in the music industry”.

“With over 90% of our usage driven by smartphones, Saavn users are moving data plan transactions and driving data engagement at an incredible pace”, he added. “In the coming months, you’ll see us work more deeply with carriers in India and additional territories”.

The company, which is based in New York but remains focussed on the Indian market, also announced that it has seen its user numbers boom in the last twelve months, reaching eighteen million active daily users. It reported fourteen million as recently as July, when new investment of $100 million was announced.

“Music streaming is a core app on today’s smartphones, and Saavn is superbly positioned to grow rapidly in the fast expanding smartphone market in India”, said Sarin. “As an innovative and nimble music streaming company, at the heart of one of the world’s most valuable markets, Saavn hits all the right notes. I look forward to working with the Saavn team on the company’s continued progress”.