Indian Web2.0- different strokes, different folks.. Whats your Say?
Social Networking a 'Waste of Time in India'
Sequoia Capital invests 7 million in Minglebox – Sequoia is a big name in venture funding of internet startups. They have internationally backed some of the biggest names in this business, so when their Indian arm invests a sizable sum in a SNS startup, that hasn’t really set the roads on fire (as yet) and is just one in an increasingly crowded space, you have to notice it. Personally I think this decision makes sense for them, for as an investor you have finite choices and if they have to bet on somebody in the Indian SNS space, Minglebox is a better choice than many of the others. But my main point here is that they are certainly not as skeptic as Avnish about Indian Web2.0.
Cannan Partners not too high on web2.0
Media/Entertainment industry hots up to internet (incl Web2.0) – One recent trend worth noticing is that the big Indian media companies (having huge reach through their TV channels)– Times, NDTV, CNN IBN, Reliance Entertainment are getting their internet act together. They obviously think that the internet is the next big medium after the television. In fact, its not just Indian media companies but foreign ones as well. Take the case of MIH India, which has been promoted by a South African media house, Naspers. MIH has made some high profile top mgmt hiring decisions, is committing serious advertsing money to their products- in general they are betting big on this space. I must add that the media companies are eyeing the internet space in general, but it’s safe to assume that they are partly influenced by the buzz around ‘web2.0’.
No dearth of VC money for internet space – You would agree that there is more venture capital money available for the Indian internet space that what the market can absorb. (in fact in India, that’s probably true not just for venture capital but for big ticket private equity as well); and the blame for this clearly lies with us- the startup guys, the entrepreneurs themselves, for not creating enough compelling products & services that can be considered ‘investment grade’ by owners of the capital.
So what do you think about all this? Are you confused about Indian web 2.0 ? I’d like to hear from you, specially if you are a Web 2.0 entrepreneur yourself. Or even if you are just a gazing onlooker….
I have my own point of view on this and a pretty strong one at that. but without being judgmental, I’d like to listen to what others have to say.
WebYantra and complete web2.0
