Released on: July 19, 2008, 4:15 am

Press Release Author: Devi Katragadda

Industry: Media

Press Release Summary: 212MEDIA (www.212media.com), a venture Development firm that
owns and operates a portfolio of digital media companies, announced today completion
of a follow-on equity financing to capitalize the rapid growth of its businesses.
Previous investors in its portfolio companies were invited to participate in the
round lead by Mr. Devi Katragadda from Seven Hills Capital.

Press Release Body: 212MEDIA (www.212media.com), a venture Development firm that
owns and operates a portfolio of digital media companies, announced today completion
of a follow-on equity financing to capitalize the rapid growth of its businesses.
Previous investors in its portfolio companies were invited to participate in the
round lead by Mr. Devi Katragadda from Seven Hills Capital.
(www.212media.com), a venture Development firm that owns and operates a portfolio of
digital media companies, announced today completion of a follow-on equity financing
to capitalize the rapid growth of its businesses, further Devi Katragadda, General
partner Seven Hills Capital joined the board of directors.
Previous investors in its Saavn (www.saavn.com), Sportsvite (www.sportsvite.com),
Speakaboos (www.speakaboos.com) and SnakBlox (www.snakblox.com) ventures were
invited to participate in the round lead by Mr. Devi Katragadda general partner of
Seven Hills Capital. Seven Hills was a previous investor in 212MEDIA\'s Saavn joint
venture, the largest digital distributor of South Asian music and movies worldwide.
Seven Hills General Partner Dave Katragadda will join the Board of Directors of
212MEDIA.
Securing the investment is the latest success for 212MEDIA which has seen revenues
from it businesses more than double since the end of 2007. Over the past 12 months,
212MEDIA has launched a cross-border joint venture with the leading digital content
distributor in India, closed on two acquisitions and launched a new venture in
online game syndication.
Speaking on the occasion Mr. Devi Katragadda said that 212MEDIA is one of the most
innovative models for venture Development that he has seen. Devi pointed that
212MEDIA operates in the valuable niche between venture capital funds and the
corporate investment arms of major media companies.
Dave said it will be a pleasure to help guide the growth and success of 212MEDIA\'s
companies as they create substantial value within the unique verticals within which
they operate.
\"Dave brings an exceptional investment track record and discipline to the 212MEDIA
Board. He understands the fundamental business drivers that will increase the market
value of the 212MEDIA portfolio,\" said Neal Shenoy, Managing Partner of 212MEDIA
talking about the inclusion of Mr. Devi Katragadda in the board of directors.
Seven Hills Capital is part of The Seven Hills Group USA, LLC a conglomerate with
diversified holdings across media & entertainment, technology, education, financial
services and healthcare. Mr. Devi Katragadda, the founding principal of Seven Hills
is one of the most successful individual investors in the United States. Mr. Devi
Katragadda is the Chairman of the US-Asia Business Forum, a networking and advocacy
organization seeking to promote investment between the US and South Asia. A much
respected philanthropist, Dave has made major contributions to causes dedicated to
global innovation including The Clinton Global Initiatives Fund and Women for Women
International. Devi Katragadda is also the Founder and Chairman of the Katragadda
Innovative Trust for Education in India.
About 212MEDIA:
212MEDIA (www.212media.com) owns and operates a portfolio of digital media ventures
across social media, content production and content distribution in partnership with
respected media companies. 212MEDIA companies work with the leaders in digital and
traditional media including Amazon, Apple, AOL, CBS, Cox, Disney, Google, Rogers,
Time Warner, Verizon and Virgin Media Group to take their unique online communities
to market. 212MEDIA ventures have been featured in The Wall Street Journal, New York
Times, Forbes, Fortune, Variety, Crain\'s Business, ABC News, Fox Business, MSNBC and
CNN. 212MEDIA global headquarters are in New York City with portfolio company
offices in Washington, D.C., Denver, Colorado and Bombay, India.
For more information, please visit
www.212media.com.
About Seven Hills:
The Seven Hills Group USA, LLC is a conglomerate founded by Mr. Devi Katragadda. It
has diversified holdings across media & entertainment, technology, education,
financial services, and healthcare. Seven Hills Capital focuses on early and growth
stage investments in companies based in both India and the US.
Based in Bakersfied, California, Seven HiIls Capital has made investments in a
number of companies, including, Maisole, a solar technology company, and Quartics, a
semi conductors company based in Irvin, California.
For more information, please visit
http://7hillscapitalmanagement.com/


Web Site: http://www.davekatragadda.com

Contact Details: 9530 Hageman road,
Ste # B- 255,
Bakersfield, CA-93312