Times Internet has reportedly invested an unspecified amount of money in Skift, a travel intelligence and content startup founded by Rafat Ali and Jason Clampet. Rafat previously founded paidContent.org which was acquired by the GigaOm network in 2012. Skift is supposed to be a travel intelligence and media company whose objective is to deliver news, insights and reports to the travel industry. This is a niche space which has a good potential for a modern content startup.
The news about Times Internet’s involvement broke out on Twitter when Satyan Gajwani, CEO of the company, tweeted this to Rafat Ali.
— Satyan Gajwani (@satyangajwani) August 16, 2013
VCCircle confirmed the news later. Rafat has also confirmed that the company has added Times Internet to the funding round that they announced in May. This funding round saw the company raise $1.1 million in seed funding from Lerer Ventures, Ironfire Angel, Mesa+, Advancit Capital and GrowLab+LX Ventures in addition 8 individual angel investors. The company had raised $500,000 in a funding round prior to this. Skift has grown to more than half a million unique visitors since it launch, the company claims.
Times Internet is showing a trend of investing in US companies (Skift is based in New York). Some time back they announced an investment in Fab.com, a popular e-commerce venture in the US.