Search engine giant Google usually buys up companies and does not sell. But in the case of search engine marketing (what is it?), Google is a seller. It has gotten ridden of its search engine marketing business Performics to French advertising group Publicis Groupe. The terms are not disclosed. Chicago-based Performics came to Google when [...]
Friendster Inc was first of the block in the social networking space, but had lost out after MySpace and Facebook made their entry into the networking scene. The company, however, has managed to attract a top Google exec as its CEO and IDG Ventures as one of the investors. The company has appointed Richard Kimber, [...]
The world’s largest integrated metals and mining company, ArcelorMittal, has announced launch of new clean technology venture capital fund and a carbon fund. The steelmaker also announced its first investment of $20 million in California-based Miasole, which is engaged in the development of thin-film solar panels. ArcelorMittal will be working with Bessemer Venture Partners, Khosla [...]
After selling his 40.8 per cent stake to AV Birla Group’s Idea Cellular, BK Modi, the Delhi based industrialist, is richer by Rs 2,700 crore. That is hard cash of $650 million, which he can deploy in many of his existing businesses or use it up to buy stakes in companies like Sony Entertainment Television [...]
Recently, Tencent Holdings, an affiliate of MIH China, announced that it would pick up a 50 per cent stake in MIH India, the owners of ibibo.com, a social media website. It also said it will invest $7.5 million in the company over next three years (this investment is not to be confused with the value [...]
When Google, the world’s largest online ad network, itself is finding it difficult to monetise its $1.6-billion YouTube (we are not saying that, Larry Page is), an idea like an online video advertising network can be a bit challenging one. Not for India-born Diaz Nesamoney, the founder and CEO of Jivox, who recently landed a [...]
LinkedIn, the professional networking site which closed a $53 million round on Wednesday, claimed that it has one million members in India. If the number is right (it looks a bit far fetched as India’s best read English papers like The Economic Times is yet to reach 1 million readership), that will put LinkedIn in [...]
UK-based advertising giant Aegis Media has acquired a majority stake in search engine marketing firm Communicate2 for an undisclosed amount, according to Mint newspaper. The company will also consider local acquisitions and alliances for Velocity, which is Aegis’s global sports marketing arm. Besides, the UK ad agency is also looking for local acquisitions in areas [...]
Mobile payment company PayMate India Pvt. Ltd. has raised $9 million in series B round from Mayfield Fund and the existing backers Kleiner Perkins Caufield & Buyers and Sherpalo Ventures. The stake diluted is undisclosed. Nikhil Khattau, Managing Director of Mayfield Advisors, will join the board of PayMate.
PayMate had raised $5 million in its first [...]
Intel Capital has invested in an Indian online education company Vriti Infocom, which claims to be creating the first education marketplace in the country. The Noida (Uttar Pradesh)-based Vriti, set up by a group of ex-IITians, has raised a total of $2.5 million. Vriti’s website (www.vriti.com) shows that they are into three verticals - education, [...]
Reliance Technology Ventures Ltd (RTVL), the corporate venture capital arm of the Reliance ADA Group, has co-invested along with other global venture funds in a US-based mobile- and web-based social networking company Pelago Inc. Some media reports that the company received an investment of $15 million in this round (it had got $7.4 million in [...]
This may not be so pleasing news for half a dozen VC-funded travel portals in India. Thomas Cook India, one of the most popular offline travel companies, has made its entry into the online space with www.thomascook.in. Online travel is one category that has been proved to be successful in India. It is expected to [...]
If the deal goes through, this will be the largest M&A deal in the domestic IT space and will also be the occasion of the much-awaited exit for venture capital funds Canaan Partners and e4e. Bangalore-based MindTree Consulting is believed to be in the advanced stages of buying out another mid-tier IT company Aztecsoft. Both [...]
Info Edge Ltd, the owners of Naukri.com, admits that there has been a slowdown in IT recruiting business. “The US slowdown had an impact on the hiring scene in areas that were export-led, especially ITES,” Sanjeev Bikchandani told VC Circle in an interview.
The revenues from IT clients grew only 33 per ecent in Q4 2007-08 [...]
Info Edge India Ltd, the owners of jobs portal Naukri.com, does not seem to be losing steam. It has doubled their profits to Rs 55.5 crore (about $14 million) in 2007-08 from Rs 27 crore last year, according to the financial numbers issued by the company. The net sales for the full year stood at [...]
