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TV18 Group’s Internet arm Web18 raises $10 million from Tracer Capital

07-October-2006
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TV18 Group’s Internet arm Web18 raises $10 million from Tracer Capital

Television Eighteen Group’s Internet arm, Web18 Caymans, has raised funds of $10 million from venture capital firm Tracer Capital. Tracer Capital is a New York-based investment fund focused on global investment opportunities in the technology, media, telecommunications and business services sectors.

Television Eighteen Group has been expanding its Internet business and has bought three Internet companies in recent times. It has also appointed Surya Mantha, a former Sify hand, as its CEO.

The Group also plans to list Web18 in the stock market. Web18 now has an exhaustive list of Internet sites like moneycontrol.com, ibnlive.com; commoditiescontrol.com; cricketnext.com , compareindia.com, jobstreet.com, yatra.com, tech2.com and urbaneye.com.

Also see:

Surya Mantha to head Web18, TV18 Group's Internet business

http://www.exchange4media.com/e4m/news/newfullstory.asp?section_id=23&news_id=22497&tag=17224&search=y

TV 18 buys three Internet companies, looks for better synergy

http://www.exchange4media.com/e4m/news/newfullstory.asp?section_id=8&news_id=22398&tag=17125&search=y

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