Samir Bangara, the Co-founder and chief executive of digital music platform Qyuki Digital Media, passed away yesterday following a motorcycle accident, which is believed to have taken place on the outskirts of Mumbai.
Sagar Gokhale, Co-founder and CEO of Qyuki, in a statement to the company’s employees, informing them of the tragedy, said, “We are all in a state of complete and utter despair and words will do no justice to express this loss. But it is our duty to absorb this shock for now so that we can be there for each other, especially for his family, just the way Samir would have liked us to.”
The note further read, "On behalf of Team Qyuki and all our allies, we seek your support. Given the pandemic, please send your prayers from home until such time as we have more information to share with you."
Before taking over as chief executive, Bangara had played multiple roles, spanning functions and organizations, including venture capital investor, investment banker, C-Suite executive and startup founder. The 46-year-old came into limelight when he, along with founder Vishal Gondal, successfully instrumented the sale of home-grown video publisher Indiagames-where he was the CEO- to entertainment conglomerate Disney in 2012-13, for a reported $80-$100 Mn.
Post that, he served as Managing Director, Digital for Disney India, for less than a year, before quitting to join Qyuki in 2013.
The digital music platform based out of Mumbai was initially launched by director Shekhar Kapur and Grammy and Oscar-winning music composer AR Rahman in 2012, before the duo brought Bangara on board to spearhead operations. It helps creators in film and music create and monetize content.
In February this year, the company reportedly closed a $3.5 million funding round led by Info Edge Venture Fund, Info Edge’s new alternate investment fund created to invest in tech and tech-enabled entities.
With his untimely death, the industry has lost a visionary entrepreneur who will be missed for his passion for music and tech. May his soul rest in peace.
Image Credits: Mumbai Live