Articles from VCCircle

Thomson Reuters Buys Indian Legal Online Database Company

Explore Article contentSutra.com (Jul 8 2009) Acquisition

Thomson Reuters (NSDQ: TRIN), the leading financial news and business information company, has acquired private equity backed Indlaw Communications Pvt. Ltd., a Delhi-based legal information company, for an undisclosed amount. Indlaw runs a legal, tax and regulatory information database website called Indlaw.com. It will now be a subsidiary of Thomson Reuters. (Read Full Article)

Comment on Article Mentions: Thomson Reuters

Online Advertising To Start Picking Up In A Year: Rediff CEO Ajit Balakrishnan

Explore Article contentSutra.com (Jun 9 2009)

Rediff.com (NSDQ: REDF), arguably India's first and largest horizontal portal,recently annouced its results and reported a net loss of $8.86 million in Q4 FY08-09. The company attributes the losses to the slowdown in the online advertising sector. Ajit Balakrishnan, Rediff.com's Founder, Chairman and CEO, expects the situation in the onlineadvertising world to revive in about two to three quarters. He alsoexpects online advertising to match up with the TV advertsing in about two years from now. VCCircle.com spoke to Ajit Balakrishnan on the current situation in the online advertising market, and also on Rediff's investment strategy. Excerpts: How is the ... (Read Full Article)

Comment on Article Mentions: Ajit Balakrishnan Rediff MoneyWiz

"We Are In Talks To Build An OTA Backed By Airlines": Rang7.com Founder

Explore Article contentSutra.com (Jun 3 2009) Travel

Rang7.com is an online travel agency (OTA), which is still on the stealth mode. The company is trying to build a business in India on the lines of the successful Orbitz—an OTA founded by a group of airlines. Rang7.com is in the process of cobbling up a group of airline backers to launch its service in India. The company is founded by Ram Seethepalli, who was formerly an MD with Travelport, which had been a major investor with Orbitz. Seethepalli exclusively spoke to VCCircle on his plans, and also clarified on media reports, including VCCircle's, on Rang7. Excerpts: Why another ... (Read Full Article)

Comment on Article Mentions: American Airlines Yatra Continental Airlines

Canaan Appoints Former Yahoo Exec Sharad Sharma As Entrepreneur-in-Residence

Explore Article contentSutra.com (May 27 2009) Acquisition

Venture capital fund Canaan Partners has appointed former Yahoo (NSDQ: YHOO) and Syamtec executive Sharad Sharma as an entrepreneur-in-residence. Sharma earlier led Yahoo! India R&D and was the India General Manager and VP of Product Operations with Symantec. Sharma was responsible for turning around the operations of Symantec's, formerly VERITAS Software, operations in India. Sharma, who has more than 22 years of experience, will help strengthen Canaan's presence and focus on the cloud computing market. Canaan already has investments in this area like Virsto Software and SOASTA, Inc. "Cloud Computing is a global phenomenon and Canaan is very well positioned ... (Read Full Article)

Comment on Article Mentions: Canaan Partners Bollywood Yahoo

Who Owns Rang7.com?

Explore Article contentSutra.com (May 20 2009) Travel

Rang7.com is the latest online travel portal to hit the Indian market. The website has attracted a lot of attention in the last few days as a leading newspaper reported the portal was owned by India's three major domestic airlines - Kingfisher Airlines, IndiGo Airlines and SpiceJet. And that the venture was floated by airlines to checkmate other independent OTAs who survive largely on commission payouts by airline companies. Even though the ownership of the travel portal is still being speculated, VCCircle digs for more information on the people behind the OTA, which is reportedly trying to become an Orbitz ... (Read Full Article)

Comment on Article Mentions: Ixigo Travelguru Affiliate Program Galileo

'We Are Taking Online Social Network Offline In India': MySpace India Head

Explore Article contentSutra.com (May 14 2009) Social Networking

MySpace launched its operations in India in May last year. About one year after the establishment of its India office, News Corp's social networking site claims to have attained over 2 million users in India. The number is certainly small when compared to other established social networks such as Facebook or Orkut which are expanding the user base in the country by launching in regional languages. MySpace's latest initiative in India is that they are taking their online users offline by engaging them in different meetups like movie screenings, music shows etc. VCCircle spoke to the Country Manager of MySpace ... (Read Full Article)

Comment on Article Mentions: Farah Khan Google Britney Spears

Classifieds Firm OLX Raises $5 Million From Nexus India Capital

Explore Article contentSutra.com (May 9 2009) Acquisition

Local information firms are surely becoming a must have on portfolio of Indian venture capital firms. Nexus India Capital has invested $5 million in New York-based classifieds firm OLX. Suvir Sujan, co-founder and managing director, Nexus India Capital, has confirmed the investment to VCCircle. Besides India, OLX also has a strong presence in Spain, Portugal, Mexico, South America, China, and the Philippines. "We are strong believers in the future of free online classifieds around the world and think that the OLX team is one of the best teams to execute this vision," said Sujan in an email response. OLX raised ... (Read Full Article)

Comment on Article Mentions: Sulekha Bessemer Venture Partners SAIF Partners

Ybrant Digital Acquires Argentina-Based Ad Network

Explore Article contentSutra.com (May 5 2009) Mobile , Acquisition

Hyderabad based digital marketing solutions provider, Ybrant Digital which reported a $55 million topline for FY07-08, is putting its money to better use. It has acquired Argentina based ad network, Dream Ad for an undisclosed amount. Dream Ad has been operating since six years and has over 300 clients. Besides Argentina, this acquisition gives Ybrant presence in three other countries where Dream Ad operates in - Chile, Uruguay and Mexico. Dream Ad's partners include, Microsoft (NSDQ: MSFT) Advertising, MTV, eBuddy, Fotolog, Sonico, Dorimedia, Keegy, Viva Street, Ciudad.com and Ybrant's own Oridian. It is also the exclusive sales house for Microsoft ... (Read Full Article)

Comment on Article Mentions: Kevin Thau Fox News George Linardos

Ojas Invests in Online Campus Recruitment Website

Explore Article contentSutra.com (May 5 2009) Mobile , Acquisition

Early stage venture capital firm Ojas Venture Partners has invested an undisclosed amount in Delhi-based CoCubes, a mangement consulting firm. The firm is an online platform which aims to bring college and companies together for campus recruitment. Gautam Balijepalli, Principal at Ojas, confirmed the investment to VCCircle. He refused to comment further on the deal. The company's business model involves signing up colleges for an annual fee. Then various companies looking to recruit pay CoCubes on a per campus basis. The company is also looking to reach out to colleges tier-2/3 cities. The company has been co-founded by Harpreet Grover, ... (Read Full Article)

Comment on Article Mentions: Social Media and Mobile Motilal Oswal Ojas Venture Partners

Neo Sports Broadcasting Raises Rs 258 Cr From 3i, Oman Investment Fund

Explore Article contentSutra.com (Apr 16 2009) Acquisition

Neo Sports Broadcasting Pvt Ltd has got approval from Foreign Investment Promotion Board (FIPB), the nodal agency that clears foreign investment proposals, to bring in Rs 258 crore as FDI. The funds have been raised form private equity investors like Oman Investment Fund (OIF) and 3i Sports Media (Mauritius), reports Business Standard. 3i and OIF have earlier invested in Nimbus Communications, which is the parent company of Neo Sports Broadcasting. The investment is being made through issue of fresh equity shares and equity-linked instruments like compulsory convertible preference shares. The funds will be used by Neo to expand its two ... (Read Full Article)

Comment on Article Mentions: Cisco Americorp Ventures Times Now

Sequoia, Nexus Back Electronic TV Programme Guide

Explore Article contentSutra.com (Apr 6 2009)

Sequoia Capital and Nexus India Capital backed What's On India Media Ltd (WOIML) is in the process of getting a licence to uplink non news and current affairs television channel in the country. Mumbai-based WOIML has an electronic programme guide (EPG) which aggregates programming information from hundreds of TV channels. The company may be looking to expand within the media business by launching a TV channel. The details are not known. When contacted by VCCircle, Atul Phadnis, Founder, WOIML, declined to comment. The company was founded in 2005 by Atul Phadnis, who had earlier worked with media agency Rediffusion-DY&R, Mindshare, ... (Read Full Article)

Comment on Article Mentions: Rediffusion-DY & R Starcom Worldwide VCCircle

Infomedia 18 Acquires Local Review Website Burrp!

Explore Article contentSutra.com (Apr 2 2009) Maps/Local , Acquisition

In an intertesting development, publishing firm Infomedia 18 Ltd has acquired local reviews website Burrp!. The financial terms of the deal have not been disclosed. Burrp! is one of the first few local information websites launched in the Indian market in the last three years. Burrp! describes itself as a "fun way to find and share your views on local stuff, ranging from restaurants to bars; cafes to roadside stalls". It contains reviews for eight cities as of now which include Mumbai, Bangalore, Delhi and Kolkata. In a communication to the stock exchanges, the Network 18 group-owned company said that ... (Read Full Article)

Comment on Article Mentions: Burrp Software Pvt Ltd Anand Jain

Qualcomm Ventures Invests $9 Mn in GIS Firm MapMyIndia

Explore Article contentSutra.com (Feb 15 2009) Mobile

Its existing backers - KPCB, Sherpalo Ventures and Nexus India Capital - have also participated in this round. Qualcomm (NSDQ: QCOM) Ventures, the venture capital arm of wireless technologies and data solutions firm Qualcomm Inc, has invested $9 million in CE Infosystems, reports PTI (Via Economic Times). For Delhi-based CE Infosystems, which is better known as digital maps and navigation services provider MapMyIndia, this is the third round of venture capital funding. It had earlier raised funding from Kleiner Perkins Caufield Byers, Sherpalo Ventures and Nexus India Capital, who have also participated in this round. MapMyIndia provides services and solutions ... (Read Full Article)

Comment on Article Mentions: MapmyIndia Sequoia Capital India Qualcomm Ventures

Accel India To Invest $2.5 Million In Healthcare Portal HealthcareMagic

Explore Article contentSutra.com (Feb 14 2009) Mobile

Rx HealthCare Magic, which runs the portal HealthcareMagic.com, has raised its first round of funding of $2.5 million from Accel India, VCCircle has learned. Kunal Sinha, founder and CEO of Rx HealthCare Magic, has confirmed the investment. The funding will be released in tranches as company meets its milestones. Bangalore-based HealthcareMagic is a medical consultation and referral portal which allows users to interact live with doctors. It currently has around 50 employees, which include 34 doctors. While some of these doctors are full time employees, others are consultants on contract. The company earns its revenues through medical consultations. The interaction ... (Read Full Article)

Comment on Article Mentions: Kunal Sinha IIT Kanpur Tata Teleservices

French Biz Networking Site Viadeo Acquires Indian Video Site ApnaCircle

Explore Article contentSutra.com (Feb 14 2009) Social Networking , Acquisition

Sabeer Bhatia, the founder of Hotmail, has now given up on another internet business. French business networking site Viadeo has acquired Bhatia-funded social networking website ApnaCircle.com. The financial terms are not disclosed, but the deal is in stock only, according to Yogesh Bansal, co-founder of the Indian networking site. The French networking site already has operations in China and Mexico and is eyeing other emerging markets. The cash-less deal will enable the registered users of ApnaCircle to be linked with the members of Viadeo. Bhatia, who shot to fame after developing and selling Hotmail to Microsoft (NSDQ: MSFT) for $400 ... (Read Full Article)

Comment on Article Mentions: Hotmail Yogesh Bansal Bhatia

ValueFirst Raises $6 Mn in Series B From NEA

Explore Article contentSutra.com (Feb 12 2009) Mobile , Funding

ValueFirst raised its first round of $250k in 2006 from Rajesh Jain's personal investment firm Emergic Ventures. ValueFirst Messaging, a Delhi-based mobile messaging services provider, has raised series B funding of $6 million from venture capital firm New Enterprise Associates (NEA). In 2006, the company raised its first round of funding of $250,000 from Emergic Ventures of Rajesh Jain. ValueFirst plans to increase its workforce by double from the current 200, and enhance its presence in 35 cities in India. ValueFirst also has plans for international expansion, especially in East Africa and Middle East. Ben Mathias, Executive Director of NEA ... (Read Full Article)

Comment on Article Mentions: Ben Mathias Nortel New Enterprise Associates

Govt Relaxes FDI Regime; Telecom, Insurance, Retail, Media To Benefit

Explore Article contentSutra.com (Feb 12 2009) Acquisition

Here is the new Foreign Direct Investment regime that will rewrite the rules for FDI at least in sensitive sectors like telecom, media, aviation, banking defence, and insurance. The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved new guidelines for computation of foreign equity in Indian companies. The crux of the new guidelines is that the management and economic control would be the defining criterion for determining whether or not a foreign holding in a company was to be treated as FDI. In other words, any notion of indirect or proportionate foreign holding has been done away with. So ... (Read Full Article)

Comment on Article Mentions: Hindustan Unilever Cabinet Committee on Economic Affairs

Altruist Acquires VC- Backed Mobile2Win In All-Stock Deal

Explore Article contentSutra.com (Feb 11 2009) Mobile , Acquisition

In what could be the beginning of the consolidation of mobile value added services companies, Mobile2Win, a leading VAS player, has been acquired by another VAS player, Chandigarh-based Altruist Group. As part of the all-stock deal, the venture capital investors and promoters in Mobile2Win will pick up a 10% stake in Altruist, while M2W will become a subsidiary of Altruist. Besides, the VCs and promoters will continue to hold a 10% stake in M2W post the deal, Anuj Aggarwal, co-founder and director of Altruist, told VCCircle. The venture capital investors of Mobile2Win will not be investing any additional money into ... (Read Full Article)

Comment on Article Mentions: Rajat Jain Tata Teleservices Softbank China

Astro Group Picks Up 50 Percent in Mogae Digital For $5 Million; Launching Social and Search Portal

Explore Article contentSutra.com (Feb 3 2009) Social Networking , Acquisition

Malaysia based media conglomerate Astro Group has acquired a 50 percent stake in online firm Mogae Digital for $5 million. Mogae Digital is promoted by Sandeep Goyal and Tanya Goyal, the Indian JV partners of Japanese giant Dentsu, the single largest ad agency in the world. The proceeds of the fund will be used for launching a social networking portal for mobile phones and a local search engine this year, The Economic Times reported today. The Indian arm of Dentsu media has been constantly strengthening its position in online media. The media agency attempted to change the way ad inventory ... (Read Full Article)

Comment on Article Mentions: Economic Times Toyota Goyals

Helion Venture Invests Rs 20 Crore In Local Information Company Getit

Explore Article contentSutra.com (Feb 2 2009) Mobile , Acquisition

The local classifieds space in India continues to attract investment. Venture fund Helion Venture Partners has announced an investment of Rs 20 crore (about $4.2 million) in GETIT Infoservices. Delhi-based GETIT is a producer of yellow pages and directories in India, and has also ventured into digital offerings in the local search and classifieds space. In December, internet giant Yahoo (NSDQ: YHOO) acquired a 30 percent stake in Chennai-based Network Management (Inmac), which owns the telephone-based directory search service Call Ezee. The leaders in this space are JustDial and Infomedia Group's Yellow Pages, while there are newer entrants like AskLaila ... (Read Full Article)

Comment on Article Mentions: Guruji Network Management Helion Venture Partners

techTribe Says Referral Job Site Not Working Out, Looking For A Buyer

Explore Article contentSutra.com (Jan 21 2009)

techTribe, backed by Canaan Partners, is now exploring options like finding a strategic partner or a buyer. The business model for online recruitment based on referrals is not "working out", techTribe CEO and Founder Rohit Agarwal admitted in an interview to VCCircle. The company is now exploring options like a strategic partner or a buyer. San Francisco and New Delhi-based techTribe was founded by serial entrepreneur Rohit Agarwal, in 2006. Before starting techTribes, Agarwal was co-founder and VP of marketing and business development at Webify Solutions, which got acquired by IBM in July 2006. The company hoped to make money ... (Read Full Article)

Comment on Article Mentions: InfoEdge Westin Times Square Founder Rohit Agarwal

3G To Be Launched In Delhi In 10 Days

Explore Article contentSutra.com (Jan 16 2009) Mobile , Telecom , Acquisition

State-run Mahanagar Telephone Nigam Ltd (MTNL) has said that it plans to launch 3G telecom services in national capital New Delhi in next 10 days. MTNL plans to launch 3G services in the commercial capital Mumbai by first week of February, reports PTI (via Business Standard). MTNL has not tied up with any content providers and has said that its Internet Protocol Television (IPTV) providers would give it the content. Department of Telecom issued Bharat Sanchar Nigam Ltd (BSNL) and MTNL spectrum to roll out all-India 3G services last year. The spectrum auction for private telecom companies has been continually ... (Read Full Article)

Comment on Article Mentions: Department of Telecommunications Mahanagar Telephone Nigam Ltd Bharat Sanchar Nigam Ltd

Apnaloan Announces Investment From Jafco Asia, Sequoia

Explore Article contentSutra.com (Jan 15 2009) Acquisition

Sequoia had invested $2.2M in Apnaloan in early 2007. It is one of the oldest loan origination portals. Apnapaisa Pvt Ltd, the company which owns financial intermediary portals Apnaloan.com and Apnainsurance.com, has raised an undisclosed investment in its second round of funding from JAFCO Asia and the existing investor Sequoia Capital. Sequoia had invested $2.2 million in Apnaloan in early 2007. Apnaloan, founded in 2000, is one of the oldest portals in this business. It initially had backers like Rediff.com (NSDQ: REDF), ING Vysya Bank, SIDBI Venture, Jumpstartup Venture Fund, FMO and Edelweiss Capital, while many of them have exited ... (Read Full Article)

Comment on Article Mentions: Komli Sequoia Capital India Apnapaisa Pvt Ltd

Intel Capital Invests $23M In One97, IndiaMART & A Training Firm

Explore Article contentSutra.com (Jan 14 2009) Mobile , Social Networking , Acquisition , Funding

According to sources, more than half the $23M investment has gone to mobile VAS player One97 Communications. Intel (NSDQ: INTC) Capital, the corporate venture capital arm of chipmaker Intel, has invested a total of $23 million in three Indian companies. The investments are in One97 Communications (a Delhi-based mobile value added services company), online B2B marketplace IndiaMART.com and vocational training institute Global Talent Track. The investment in Global Talent Track is a co-investment with Helion Venture Partners. Though individual investment amounts were not disclosed, souces say that more than half of the $23 million investment has gone to One97 Communications, ... (Read Full Article)

Comment on Article Mentions: Intel Avendus Capital Emnet Samsara Media Pvt. Ltd.

Angel Fund Mercatus Capital Invests In I-Flapp Tech, Lucid Software

Explore Article contentSutra.com (Jan 13 2009)

Mercatus, an angel investment fund, is looking at investing in software product firms, retail & cleantech. Singapore-based early stage venture capital firm Mercatus Capital has closed two investments in in India. The fund has invested undisclosed amounts in I-Flapp Technologies and Lucid Software. I-Flapp develops mobility solutions which help one carry software like Adobe (NSDQ: ADBE), MS Office applications, etc. on pen drives. Lucid Software specialises in non-destructive testing (NDT) technology and develops software solutions. Mercatus, with a focus on early stage, invests between $250K-$2 million in each company. There are only few funds in India at the early stage ... (Read Full Article)

Comment on Article Mentions: Adobe Accel India Mercatus Capital

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