From Toothbrush Company To UTV And UpGrad, A Look At The Journey Of Ronnie Screwvala
In 2014, Ronnie Screwvala ventured into film production with RSVP Movies.
In 2012, The Walt Disney Company acquired UTV for $454 million (over Rs 3,725 crore).
Rohinton Soli Screwvala, more commonly known as Ronnie Screwvala, is one of the well-known entrepreneurs and popular film producers in India. He started off his journey in the business world with a toothbrush manufacturing company called Lazer Brushes. He then pioneered India’s first cable television company named Network in June 1981, a three-hour video channel that telecasts movies. It started by providing content to some homes in Maker Towers in the posh Cuffe Parade area of Mumbai. Screwvala then founded the TV production company UTV in the 1990s with Rs 37,500 which then turned into a media conglomerate and now includes the film production studio UTV Motion Pictures. The studio has produced many hit films like Rang De Basanti (2006), Harishchandrachi Factory (2009), Peepli Live (2010), and Barfi! (2012).
In February 2008, the global entertainment giant The Walt Disney Company picked up a stake of 15 per cent in UTV Global Broadcasting for Rs 118.98 crore. This was one of the largest investments in India’s media and entertainment sector. Walt Disney then acquired a 32.1 per cent stake in UTV Software Communications Ltd for Rs 805.05 crore. In 2012, it acquired UTV for a sum of $454 million (over Rs 3,725 crore) and changed it into Disney UTV. Screwvala divested his 23 per cent stake and left the company in 2014. The UTV brand closed in 2022.
Currently, Screwvala is the co-founder of the Edtech company UpGrad. It was founded by him, Mayank Kumar and Phalgun Kompalli in 2015. In July 2022, it acquired another Edtech company Harappa Education for Rs 300 crore. UpGrad is valued at $2.25 billion. Screwvala also runs a private equity firm Unilazer Ventures through which he invests in many startups.
In 2014, Screwvala again ventured into film production with the brand RSVP Movies This brand has produced films like Karwaan, Sonchiriya, Raat Akeli Hai, Mard Ko Dard Nahi Hota and The Sky Is Pink. He also acquired a place on Esquire’s list of the 75 Most Influential People of the 21st Century. In 2015, Screwvala was ranked 78 on Time 100 which lists the 100 most influential people in the world.
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