Web18 gets 10 million in funding

By Rajiv Dingra • October 6, 2006

Web18 the internet arm of the TV giant TV18 which had recently acquired Cricketnext, CompareIndia and UrbanEye has recieved 10 million dollars in funding from Tracer Capital. This funding has come at the right time for Web18 as all its competitors (Naukri group, BharatMatrimony group, MakemyTrip.com, Cleartrip.com, Cricinfo.com) in both the travel (web 18 holds a stake in yatra.com) and jobs (web18 holds a stake in jobstreet.com) segment are funded by International Investors. TV18 a TV focussed company has got it right so far as far as its web strategy is concerned by buying stakes in strategic companies which has cross synergy. Web18 also owns IBNlive.com and the very popular financial site moneycontrol.com which gives web18 a strong foothold in almost all aspects of different high potential web businesses.

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Categories: Funding, Web
Tags: internet india, tv18, venture fund

About the Author

Rajiv Dingra

Rajiv is a prolific blogger who has over 1000 blog posts to his credit at WATBlog. The Founder & CEO of WATMedia our parent company and the Chief Blogger at WATBlog, he has been the driving force of the WAT Evolution. Rajiv does some excellent analysis of the digital media industry in India and often brings out deep insights with his inimitable style of interviewing. Just mail rajiv|at|watblog|dot|com and it will reach him..