Web18 gets 10 million in funding
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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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