JetSynthesys acquires majority stake in Manish Maheshwari's Fanory
Digital entertainment and technology companyhas acquired a majority stake in Fanory, a startup that helps creators improve monetisation.
As part of this transaction, JetSynthesys has onboarded ex-Twitter India Head and Fanory’s co-founder Manish Maheshwari as President, Corporate Level.
"Last year has seen high growth for us at JetSynthesys, and we are happy to begin 2023 with this transaction," said Rajan Navani, Founder and CEO, JetSynthesys. "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."
Co-founded by Manish along with two of his former colleagues, Fanory enables creators to monetise their craft on their terms through their community of fans. The platform connects creators with their superfans through a personalised app.
Shareholders of JetSynthesys include the family offices of Infosys Co-Founder Kris Gopalakrishnan, Serum Institute's Adar Poonawalla, and cricketing legend Sachin Tendulkar, among others, the release stated.
"Social media platforms prioritise follower acquisition and engagement so that they can sell adverts to brands. Direct monetisation for creators is an afterthought. Fanory is different because its core and only focus is creator monetisation. 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," added Manish.
Manish will now focus on Fanory's global expansion.
Edited by Kanishk Singh