RSS
Email
SMS
Sulekha gets 10 million $ in funding!
(Rate this article)
Loading ...Email It!
Its raining funds!!! Atleast as far as the Internet space in India is concerned. Sulekha.com which is very well known for its online classifieds business and who recently added new features has recieved 10M$ in funding from Norwest Venture Partners (NVP), a leading global technology venture capital firm. According to the release Sulekha.com plans to use the new capital to extend business development and marketing, primarily through alliances, and expand its service offerings into new vertical markets. Also Promod Haque, managing partner at NVP, has joined the Sulekha board of directors.
Sulekha’s Portfolio of Services include Blogs and Social Networking, Classifieds and Yellow Pages.
According to Promod Haque, “Sulekha has been a Web 2.0 company even during the Web 1.0 days. It has positioned itself at the vortex of three of the largest Internet mega-trends: India, Social Media and Local Commerce through industry-leading services including Blogs, Social Networks, Classifieds and Yellow Pages. While the management of Sulekha has done a great job of developing reach and revenue, the real explosive potential, both in online and mobile platforms, is still in front of us,”
Well all I can say that which ever company started in the late 1990’s or early 2000’s and managed to sustain and grow till now is already funded! There are very few middle and late stage internet companies around that can be funded. Also with funding happening for Shaadi group, Naukri group, Times Internet, BharatMatrimony Group, and now Sulekha it seems like the classifieds business is going to get from tough to tougher!
I see more funding trickling in for the early stage companies especially in the funding gap between 100k$ - 1M$. There are many funding events for early stage companies which are soon to take place.. more on that later..
Loading ...
a very interesting move by NVP funding SULEKHA. Need to wait and watch..how they act now..