Here is official Press Release
In spite of all the buzz about Internet products, Internet landscape in India lacks basic & reliable services that people take for granted in western world. Today, Indian Internet story requires not merely cool technology but a reliable service delivery & content infrastructure that can deliver powerful productivity enhancements to millions over world wide web.
In this context Ghoomo.com's launch of movies & show time finder services signals an important value addition milestone in Indian Internet consumer space.
What makes Ghoomo.com unique is the breadth and depth of movie finder services that Ghoomo makes available to consumers in India. At present, Ghoomo covers 25 Indian cities and over 500 movie screens. In near future, Ghoomo plans to make movie finder services available to 50 cities & over 1000 movie screens in India.
Another significant aspect of Ghoomo services is an effective marriage of User Generated Content & credible content driven by robust backend processes to provide a powerful and useful movies & show time search experience.
Ghoomo.com is a part of YouMagix.com, an experimental stage family of products. YouMagix product range intends to fill content availability gaps in countries such as India by innovative application of User Generated Content.
As Ghoomo.com rolls out complete service offerings in coming days, a hassle free & seamless movie planning experience can no longer be a dream for movie goers in India.
Showing posts with label India Entrepreneurship News. Show all posts
Showing posts with label India Entrepreneurship News. Show all posts
Sunday, November 4, 2007
Saturday, October 6, 2007
Why did Lightspeed take AskLaila bet?
Ever since I heard the news of LightSpeed led $10 million investment in AskLaila, I have been scratching my head and searching for answers. For starters, AskLaila is a purely India focused local yellowpage website with an added layer of basic value added services such as user reviews.
How much ever I may wish to laugh away this investment as one of the 90% VC investments that go down the drain, the reality is that nobody, especially hardened breed known as venture capitalist, invests $10million without a clear glimpse of potential high payoff.
Here is a clue, when we look at Indian Market there are two clear realities that strike an aware mind
1. One one hand, we see a growing economy, that clearly has a potential to be one of the largest in the world in next couple of decades. With a vibrant economy comes phenomenal consumption demand that can raise many billion dollar companies in basic customer facing services alone.
2. On the other hand, we have an utterly underdeveloped consumer services infrastructure. A casual visitor from western world can clearly appreciate that India lacks basic services that everybody in the West takes for granted.
Now you start to see some method in the investment madness across sectors in India. We are talking about basic consumer facing infrastructure that can deliver reliable services day in and day out, which does not exist in India today.
When it comes to basic infrastructure, It may take a lot of investment & efforts to build something that works, but successful players will have the last laugh.
Three cheers for hundreds of AskLailas, Lightspeed Ventures, entrepreneurs and investors who have decided to take a plunge.
--
Writer is founder of youmagix.com and can be reached at subodhv AT gmail.com
How much ever I may wish to laugh away this investment as one of the 90% VC investments that go down the drain, the reality is that nobody, especially hardened breed known as venture capitalist, invests $10million without a clear glimpse of potential high payoff.
Here is a clue, when we look at Indian Market there are two clear realities that strike an aware mind
1. One one hand, we see a growing economy, that clearly has a potential to be one of the largest in the world in next couple of decades. With a vibrant economy comes phenomenal consumption demand that can raise many billion dollar companies in basic customer facing services alone.
2. On the other hand, we have an utterly underdeveloped consumer services infrastructure. A casual visitor from western world can clearly appreciate that India lacks basic services that everybody in the West takes for granted.
Now you start to see some method in the investment madness across sectors in India. We are talking about basic consumer facing infrastructure that can deliver reliable services day in and day out, which does not exist in India today.
When it comes to basic infrastructure, It may take a lot of investment & efforts to build something that works, but successful players will have the last laugh.
Three cheers for hundreds of AskLailas, Lightspeed Ventures, entrepreneurs and investors who have decided to take a plunge.
--
Writer is founder of youmagix.com and can be reached at subodhv AT gmail.com
Friday, July 27, 2007
YouMagix: Is it Web-2.0 or is it UGC Portal?
There is a debate in blogosphere about whether YouMagix is a web2.0 portal or a yellow page portal or just another user generated content attempt.
Checkout YouMagix team's thoughts about the question.
Checkout YouMagix team's thoughts about the question.
Thursday, July 5, 2007
India New Venture Ecosystem Update - 05-July-2007
Vinod Dham on India Plans
Vinod Dham, who is working through NEA IndoUS Ventures fund for India plans, on investing in India. The article also mentions he has $189 million fund for his India plans. Checkout...
VCs on funding ventures targeting lower Income segments
Indian Venture Capital Known Names talk about investing in social entreprises working targeting lower income segments that CK Pralhad refers as bottom of the pyramid. You may find some of it (if not the most of it) interesting.
Vinod Dham, who is working through NEA IndoUS Ventures fund for India plans, on investing in India. The article also mentions he has $189 million fund for his India plans. Checkout...
VCs on funding ventures targeting lower Income segments
Indian Venture Capital Known Names talk about investing in social entreprises working targeting lower income segments that CK Pralhad refers as bottom of the pyramid. You may find some of it (if not the most of it) interesting.
Monday, July 2, 2007
Advertising to Paid Audience - A Cool Idea or an Economic Non Starter
Advertising to paid audience is an economic non-starter. The businesses have little reasons to advertise on such platforms because on is perverse economic incentive. as the receiver of ads are solely driven by incentive to make money will not have need in most of the cases for services/products that they choose to receive communication for.
enidhi blog has an interesting analysis of mGinger business model. Checkout if you want to understand the economics around a model that leverages paid audience as ad consumers.
enidhi blog has an interesting analysis of mGinger business model. Checkout if you want to understand the economics around a model that leverages paid audience as ad consumers.
Tuesday, June 19, 2007
India Startups Ecosystem Update 19-June, 2007
RouteGuru provides Directions Indian Way
Sparksfly blog introduces RouteGuru an interesting startup that provides driving directions the Indian Way. According to RouteGure website, technology is from Navolve Technologies and ackend mapping data is provided by Eicher Goodearth Ltd.
Helion Venture Partners' Ashish Gupta on Venture Investing and more...
Ashish Gupta, Managing Partner of Helion Venture Partners, talks about entrepreneurship, investing and entrepreneurs.
Helion is a $140 million india focused fund and it has recently invested in Komli, Anantara Solutions and Amba Research.
The Hindu publishes this interesting and informative dialogue with an entrepreneur turned VC, checkout...
Go Global - ISB Mantra for Indian SMEs
An interesting point of view from Jerry George, LBS professor and visiting faculty at ISB, who was at the SME program organized by ISB for SME business to help them go global.
Thinking BIG is a pre-requisite for high potential enterprises and I resonate with Jerry that Indian entrepreneurs do suffer from small thinking syndrome. Even after thinking hard, I do not recall a single encounter with an entrepreneur in India who tells me that he is working on a "Billion Dollar" idea.
Helping SMEs to think global is a welcome step, well done ISB!
Sparksfly blog introduces RouteGuru an interesting startup that provides driving directions the Indian Way. According to RouteGure website, technology is from Navolve Technologies and ackend mapping data is provided by Eicher Goodearth Ltd.
Helion Venture Partners' Ashish Gupta on Venture Investing and more...
Ashish Gupta, Managing Partner of Helion Venture Partners, talks about entrepreneurship, investing and entrepreneurs.
Helion is a $140 million india focused fund and it has recently invested in Komli, Anantara Solutions and Amba Research.
The Hindu publishes this interesting and informative dialogue with an entrepreneur turned VC, checkout...
Go Global - ISB Mantra for Indian SMEs
An interesting point of view from Jerry George, LBS professor and visiting faculty at ISB, who was at the SME program organized by ISB for SME business to help them go global.
Thinking BIG is a pre-requisite for high potential enterprises and I resonate with Jerry that Indian entrepreneurs do suffer from small thinking syndrome. Even after thinking hard, I do not recall a single encounter with an entrepreneur in India who tells me that he is working on a "Billion Dollar" idea.
Helping SMEs to think global is a welcome step, well done ISB!
Wednesday, June 13, 2007
ISGN receives $25 million Mezzanine Funding
New Enterprise Associates (NEA) and an affiliate NEA-IndoUS Ventures Fund have invested $25 million in ISGN, a software services player in mortgage sector.
This is surprising considering that software services, as a space, has become unattractive due to various macroeconomic factors. This deal may indicate one of the following
1. From investors' side, difficulty of finding good deals. Basically, too much money running after a few good plays
2. ISGN has agreed to a low valuation
3. NEA considers mortgage segment an exception in software services game
Friday, June 8, 2007
India Entrepreneurial Ecosystem Update June-8, 2007
Via receives $5 million in venture funding from NEA-IndoUS Ventures
Via (earlier Flight Raja) is an interesting venture that combines power of online efficiencies and reach of offline channels to reach a broader audience. Via has a plan to become leader in travel and transportation game including air travel, bus transport and leisure market segment.
NEA-Indo US ventures is a venture capital firm co-founded by K. Dham and K ola.
AMAI Web 2.0 Conference
AMAI’s is organizing a conference on Web 2.0, on 22nd June in Mumbai. Good opportunity to network with people with ideas and capital. Follow this link for more details
Proto.in Agenda
Proto.in has come up with initial agenda for the event. You can also submit your comments on their blog. Your suggestions may find their place in the final list.
India Opportunity Seminar
Chilli, a platform for entrepreneurial business stakeholders is organizing “New India, new economy: the myths, realities and opportunities” seminar. This seminar takes place in Bath on the 21st June at the Innovation Centre
Via (earlier Flight Raja) is an interesting venture that combines power of online efficiencies and reach of offline channels to reach a broader audience. Via has a plan to become leader in travel and transportation game including air travel, bus transport and leisure market segment.
NEA-Indo US ventures is a venture capital firm co-founded by K. Dham and K ola.
AMAI Web 2.0 Conference
AMAI’s is organizing a conference on Web 2.0, on 22nd June in Mumbai. Good opportunity to network with people with ideas and capital. Follow this link for more details
Proto.in Agenda
Proto.in has come up with initial agenda for the event. You can also submit your comments on their blog. Your suggestions may find their place in the final list.
India Opportunity Seminar
Chilli, a platform for entrepreneurial business stakeholders is organizing “New India, new economy: the myths, realities and opportunities” seminar. This seminar takes place in Bath on the 21st June at the Innovation Centre
Saturday, May 19, 2007
New Venture Ecosystem India Update May 19, 2007
Vibrant equity market - a Pillar of New Venture Ecosystem
Easy availability of exit options is critical for healthy venture environment. India Inc raised a record Rs 25,000 crore from market in FY 2006-07 and thats a good news.
New Design Institutes may boost Design Centric Startups
SBI Foray into Private Equity and Venture Cap
Easy availability of exit options is critical for healthy venture environment. India Inc raised a record Rs 25,000 crore from market in FY 2006-07 and thats a good news.
New Design Institutes may boost Design Centric Startups
Ministry of commerce is considering a new action plan under National Design Policy to make India a specialized innovation hub for sectors such as automobile and transportation, jewellery, leather, soft goods, electronics and IT hardware products, toys and games.
The plan also calls for four additional National Institutes of Design (NID). These centers would provide new design venture incubation and financing support through mechanisms such as venture funding apart from market development assistance for design oriented startups.
SBI Foray into Private Equity and Venture Cap
One of the biggest names in Indian Banking Industry is set to enter private equity and venture cap space with a fund size of about $1 Billion. My guess is that it is going to be more of private equity and less of venture cap, nonetheless, a sign of vibrant future for Indian venture industry.
Monday, May 7, 2007
New Venture Ecosystem India Update May 7, 2007
Venture Equity Firms Structured as Trusts to Get Tax Exemption
GOI favors trusts as a favored venture private equity firm structure. According to an official, trusts can avail pass-through status on any income they earn from investments made in unlisted firms in
Thursday, May 3, 2007
New Venture Ecosystem India Update - May 3, 2007
Foreign Investment in Pref Shares now on par with Debt
According to a Ministry of Finance circular, government will now treat foreign investment in preference shares that are not fully convertible into equity shares, issued by Indian companies on par with foreign debt. It has implications on typical mechanism of venture fund investment. Checkout, this business standard’s educational piece about this developing story
Clearstone Venture Partners - Sectors of Open Interest
According to Sumant Mandal, managing director, Clearstone Venture Advisors, Clearstone, is actively looking to invest in tech-driven businesses in financial services, communications, content & entertainment segments.
In
Here is a link to original TOI news item
New Venture Ecosystem India Update - May 2, 2007
BCEI calls for Entrepreneur of the Year award nominations
Unlike other entrepreneur of the year awards, this one is for first generation entrepreneurs preferably from non-business families.
Bharti Centre for Entrepreneurial Initiatives (BCEI), a joint initiative of the Bharti Foundation and Entrepreneurship Development Institute of India (BCEI & EDI), Ahmedabad, has invited nominations for the Bharti Entrepreneur of the Year Award – 2007. Last date for nominations is May 31, 2007.
You can visit this PR release for more details
Sanjay Anandram on focus approach to picthing VCs
You have a great business idea and now you want to pitch it to VCs, get funded and get started. Sanjay Anandram, a noted VC and entrepreneurship advocate, suggests an approach you can consider while pitching your plan to VCs.
An interesting read, take a look...
Raising Money on London Alternative Investment Exchange If SEBI does not recognize your product as valid underlying asset for listing, you can try London Alternative Investment Exchange.
According to an IANS news snippet, Shyam Benegal's movie venture is set to raise 55 million pounds on Alternative Investment Market this month .
Unlike other entrepreneur of the year awards, this one is for first generation entrepreneurs preferably from non-business families.
Bharti Centre for Entrepreneurial Initiatives (BCEI), a joint initiative of the Bharti Foundation and Entrepreneurship Development Institute of India (BCEI & EDI), Ahmedabad, has invited nominations for the Bharti Entrepreneur of the Year Award – 2007. Last date for nominations is May 31, 2007.
You can visit this PR release for more details
Sanjay Anandram on focus approach to picthing VCs
You have a great business idea and now you want to pitch it to VCs, get funded and get started. Sanjay Anandram, a noted VC and entrepreneurship advocate, suggests an approach you can consider while pitching your plan to VCs.
An interesting read, take a look...
Raising Money on London Alternative Investment Exchange If SEBI does not recognize your product as valid underlying asset for listing, you can try London Alternative Investment Exchange.
According to an IANS news snippet, Shyam Benegal's movie venture is set to raise 55 million pounds on Alternative Investment Market this month .
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