Amitabh Bachchan (ABCL) Invest in ziddu.com |AB Corporation Ltd

Bollywood stars are becoming investors. Amitabh Bachchan had tried growing AB Corporation Ltd (ABCL) years ago, however it hit the wall soon. Now the Bachchan family has taken a minority stake in Singapore-primarily based Meridian Tech Pte.

This will offer the Bachchans a holding in ziddu.com, a free cloud storage and e-distribution startup. Apart from ziddu.com, Meridian Tech, founded by Venkata Srinivas, conjointly runs a micro payment platform.

Amitabh Bachchan (ABCL) Invest in ziddu.com |AB Corporation Ltd

The Economic Times has reported that the deal has valued ziddu.com at around $71 million. The business daily has learnt that shares of Meridian were bought for $252,00zero using funds in two accounts — one account of Bachchan Senior and a joint account he shares with son Abhishek.
According to the ET report, the corporate logged revenues of $20 million in calendar year 2014. The deal was executed on Monday.

Abhishek Bachchan has already created investments in sports properties. In Pro Kabaddi League, he owns a team franchise, Jaipur Pink Panthers. He additionally is a co-owner of Chennaiyin FC, an Indian Super League football franchise.