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.