Capital18 invests in Webchutney
November 23, 2007 | In: Uncategorized
Indian digital media space seems to be in thick of action. After acquisition of Quasar media by WPP, Webchutney, known for its creative virals (Webchutney, headquartered at Delhi with offices at Mumbai, Bangalore and KualaLumpur is an online ad agency operating in interactive media, web development and web analytics), has got an undisclosed amount of investment from Capital 18, venture capital arm of Network 18 group.
The investment by Capital18 will be used for scaling up operations( team expansion and probably locations) and fuel growth.
Interestingly Webchutney founders team also manages an incubation company “Goosefish Media Venture” where they aim to incubate a series of blogs/ websites dedicated to a particular niche area.
As quotes on Goosefish Media site :
“As dumb as it may sound: our publishing focus is founded with the idea of incubating a whole bunch of vertical content websites / blogs’ using a Nanopublishing model. We want to partner with good writers to write each of them, hopefully draw a lot of eyeballs and then sell advertising around it.”
And this is probably the real killer as Indian digital space is practically empty with hardly any big brand like Gigaom etc in this space and it looks like Webchutney team is going to get their next pot of Gold from Goosefish Media. As of now Goosefish has incubated Alootechie.com, Bombaybitch and JuxtConsult.
No related posts.