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India’s probably first online DVD rental company Seventymm has secured $7 million from Matrix Partners India. This is Matrix Partners India’…

India’s probably first online DVD rental company Seventymm has secured $7 million from Matrix Partners India. This is Matrix Partners India’s first investment in India after it launched a $150-million fund couple of months ago. India’s Netflix – Seventymm – is planning a network expansion across major metros.
This is the second round of investments in Seventymm. US venture fund DFJ had invested about $2 million in the company in 2005. It has so far raised $10 million. The company is targeting a customer-base of one million and a turnover of $100 million in the next five years. It currently has 7,500 customers in Bangalore with a library of more than 10,000 movies. Matrix Partners India is run by Avnish Bajaj and Rishi Navani.

  1. Manish Bharti Tuesday, June 12, 2007

    In India we need more services for online DVD and VCD rent. Specially place like metropolis we need this service in more prompt way and off course at cheaper rate. We are lacking the good collection of movies at shop. I went with all time top 100 Hollywood movie list but I hardly get out of them.

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  2. The rental systen on the whole for india does not lokk like it will work. take example of italkies.com it packed up. in india the price of dvds is very low for rental. the present moser baser case is very important without mb no library or retail will susceed. even bigflic spending huge money will not have it happen. i see a case for retail like ebay induna.com webmalindia shemaroo & t-series won website. that the way to go. delivery can be to any part if world. the maret is very huge.

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