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Amitabh and Abhishek Bachchan pick up stake in Singapore-based Ziddu.com

"We are expecting a growth of 50% in revenues this year. I am very happy and excited that Amitabh Bachchan has reposed confidence and trust in Ziddu.com," Meenavalli said. He added that both father and sun duo have invested $125,000 each.

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Amitabh and Abhishek Bachchan.
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Bollywood megastar Amitabh Bachchan and his son Abhishek Bachchan have jointly invested $250,000 (about Rs 1.6 crore) in Meridian TechPte Limited, a Singapore-based company that runs free cloud storage, e-distribution and micro-payment platform Ziddu.com.

Venkata Srinivas Meenavalli, founder and chief executive of Meridian Tech said Bachchans are expected to invest some more amount in the company in the coming days.

"They will get some minority stake (less than single digit) in the company. They are expected to invest more once the RBI norms are enhanced (with regard to Liberalised Remittance Scheme (LRS))," Meenavalli told PTI.

Recently, the Reserve Bank had doubled the annual overseas investment ceiling for individuals to $250,000 per person per year.

He further said that Ziddu.com is currently generating 1.2 billion page views with over 300 million visitors per month from more than 225 countries.

According to him, the company which clocked $20 million revenues last year, may go for listing on Nasdaq next year.

"We are expecting a growth of 50% in revenues this year. I am very happy and excited that Amitabh Bachchan has reposed confidence and trust in Ziddu.com," Meenavalli said.

He added that both father and sun duo have invested $125,000 each. 

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