Comments on: Kleiner, Sherpalo Back Indian M-Commerce Startup

By: noel

noel — Wed, 12 Jul 2006 10:50:39 +0000

I liked the comment about them being junglees! Amusing!

There is nothing junglee about them, when I went to the link mentioned.Their Press Room is fairly enlightening as to the stuff they have been doing in the content space.(Couldnit find a word on their product/service,etc whatever they are planning to do have done!)

The founders seem to be some well known guys in the industry (in Indian context) but nothing valleyish about them.

As a VC I know there is nothing like following due process on diligence.Specially a brand like KPCB. The diligence can be a feat by itself and often give you the false sense of having achieved something! But you achieve something, when you put that money to work.

So the verdict is still out on PayMate.

By: sikha

sikha — Mon, 10 Jul 2006 14:43:58 +0000

I checked the parent Co.And the press release details which appeared in an India Financial daily.

There are 2 Co-Founders Probir Roy and Ajay Adiseshan – both Indians (presumably), and based in Mumbai. They are not ‘junglees’ ! So, I guess that would make them concrete junglees!!

You can check out their details at http://www.coruscant.co.in/aboutus

By: sikha

sikha — Sun, 09 Jul 2006 07:11:28 +0000

Is Coruscant/Paymate an Indian Co, or is it in the valley?If the latter then obviously it is natural to draw from that ecosystem.

By: Ravi Venkatraman

Ravi Venkatraman — Sat, 08 Jul 2006 18:50:10 +0000

I don't think Ram had to do any due dilegence as most of the Board members of Coruscant Tec were co-founders of Junglee .

By: mehboob

mehboob — Sat, 08 Jul 2006 02:37:47 +0000

Yes indeed!

It is good to see independent analysis of an investment!Instead of the Press release. Obviously Kleiner and ram Shriram have done their homework on Paymate and the Indian market else they would not be making a significant investment in a obviously zero revenue Co.

There coulld be something unique about what the Co has, but perhaps has not articulated as yet.I saw a report that the commerce market was 6000 crores in India.Reliance has made such a statement.

Good to see investment in new facets of mbile rather than content, ringtones ,games and wallpapers!

Kudos to Kleiner and the new venture.