JetSynthesys acquires majority stake in Fanory
- ByStartupStory | January 24, 2023
JetSynthesys, a digital entertainment and technology company, announced the acquisition of a majority stake in Fanory, a content monetization platform for content creators.
Following this transaction, Manish Maheshwari, former Twitter India head and Fanory co-founder, will join Jetsynthesys as President at the Corporate level.
Rajan Navani, Founder and CEO, JetSynthesys, said, “The social media creators market has grown exponentially, and we see this continuing for the foreseeable future. Fanory’s model is beneficial for creators. It compensates them for their hard work and creativity. With Manish by our side, we look forward to exploring this new avenue and entrenching ourselves deeper into the digital entertainment realm,” said Rajan Navani, founder & CEO, JetSynthesys.
Fanory enables creators to monetize their work on their own terms through their fanbase, transforming them into micro-entrepreneurs.
Fanory will collaborate closely with Jetsynthesys’ digital entertainment arm to help creators find their superfans – those who are both ready and willing to pay for exclusive opportunities to interact with their favourite artists.
The creators will then be able to upsell premium experiences on a personalised app using a frictionless, coin-based payment mechanism.
The platform connects creators with their superfans via a personalised app, similar to how Shopify helps small offline businesses set up personalised digital stores in the eCommerce space. Maheshwari will now concentrate on Fanory’s global expansion.
“Social media platforms prioritize follower acquisition and engagement so that they can sell adverts to brands. Direct monetization for creators is an afterthought. Fanory is different because its core and only focus is creator monetization. This deal will exponentially grow the possibilities for creators and their superfans as they now have access to the broader platform and ecosystem relationships of JetSynthesys,” said Maheshwari.
Jetsynthesys was founded in 2014 by Infosys co-founder Kris Gopalakrishnan, Serum Institute’s Adar Poonawalla, former cricketer Sachin Tendulkar, and multibillion-dollar family offices of Thermax, Triveni Group, Yohan Poonawalla Group, and DSP Group promoters.
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