authorSTREAM.com Closes First Funding Round and Crosses 5 Million Unique Visitors a Month

For Immediate Release

authorSTREAM announces today the closure of its first round of funding. This funding round was led by Rajan Anandan, former Managing Director of Microsoft India, and one of India’s most active angel investor. Rajan Anandan has also joined authorSTREAM’s Board of Directors.

Chandigarh, India, Dec 15, 2010 - authorSTREAM, a spin-off from authorGEN Technologies, has announced today the closure of its first round of funding. This funding round was led by Rajan Anandan, former Managing Director of Microsoft India, and one of India’s most active angel investor. Rajan Anandan has also joined authorSTREAM’s Board of Directors.

One of the fastest growing user-generated content platforms based out of India, authorSTREAM is the second largest presentation sharing platform in the world, with more than 100,000 presentations uploaded each month. authorSTREAM helps PowerPoint users take their presentations anywhere, at anytime, the way they intended them to be - by retaining animations, multimedia and other elements of PowerPoint, by logging onto www.authorstream.com

"This investment demonstrates authorSTREAM’s ongoing success at creating one of the largest PowerPoint sharing platforms," said authorSTREAM CEO – Harman Singh.

Stressing upon the fact that authorSTREAM purely focuses on PowerPoint and does not support PDF, video or job postings, Harman added, "We’ve worked hard to bring more than 5 million monthly visitors onto authorSTREAM to share presentations with friends, family, students and co-workers. This funding will help us grow authorSTREAM bigger and faster, provide seamless PowerPoint sharing experience on desktops and mobile devices, both asynchronously and in real-time. It will also help us engineer near 100% replica of PowerPoint slideshows on the web - the way their authors intended them to be with animations and multimedia elements."

Speaking on his investment, Rajan Anandan said, "Founders, Harman and Harbir have built superb online teams in India. Their first venture out of authorGEN, WiZiQ.com (pronounced Wiz-IQ), is very successful and is one of the most successful online learning platforms in the world."

"From all fronts - user growth, technology and financial performance – authorSTREAM is on a similar trajectory, already among the fastest growing online sites in India. There are 300 million PowerPoint users in the world and I am confident that authorSTREAM will have well over 50 million users in a few years," said Rajan.

About authorSTREAM

authorSTREAM is a free web-based platform for sharing PowerPoint presentations. Once uploaded, PowerPoint presentations can be shared across blogs, websites, social networks, on YouTube and on devices like iPods or iPads. authorSTREAM retains graphics as created, keeping animation, sound and video intact. Anyone can find exciting presentations on just about any topic.

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