Mukesh Ambani, a wealthiest business magnate in India, has built a revolutionary music streaming platform called JioSaavn. The platform, often referred to as “India’s homegrown Spotify,” offers an extensive library of songs, podcasts, and audiobooks. Co-founder and CEO Rishi Malhotra’s passion for music and strategic vision have propelled JioSaavn into becoming a household name in the Indian streaming industry.
Malhotra, born in Nashville, Tennessee, grew up immersed in music, influenced by legendary Indian artists like Nusrat Fateh Ali Khan and Lata Mangeshkar, as well as global icons like Led Zeppelin and Miles Davis. In 2007, he teamed up with Vinodh Bhat and Paramdeep Singh to launch Saavn as a B2B platform. The company initially focused on digitizing Indian music for international platforms like iTunes and Amazon, which generated substantial early revenue.
In 2010, Malhotra and his team launched the Saavn app, catering to India’s burgeoning smartphone market. They envisioned a platform where users could effortlessly discover songs, even if their searches included typos. This dedication to user experience laid the groundwork for Saavn’s rapid rise in popularity.
Mukesh Ambani, chairman of Reliance Industries, recognized the platform’s potential and decided to merge it with Jio, Reliance’s telecom giant, in 2018. The merger, valued at over $1 billion (Rs 8,300 crore), gave birth to JioSaavn, combining Jio’s massive telecom reach with Saavn’s robust music library.
Today, JioSaavn is a market leader, revolutionizing the way Indians access music. Its user-friendly interface and vast collection spanning multiple genres and languages have made it a favorite among Android and iOS users. JioSaavn stands as a testament to how innovation, passion, and strategic partnerships can redefine an entire industry.
