From sister site ContentSutra: [by Sahad PV] This is the first publicly announced M&A deal in the Indian Web 2.0 space. MIH India, the Indian arm of South African media giant Naspers, has bought out Bixee.com and Pixrat.com for an undislcosed sum. Bixee.com and Pixrat.com are a part of RHR Networks based out of Bangalore and founded by ex-Yahoo employees Rajesh Warrier and Ruban Phukan. In addition to all assets of Bixee.com including technologies, the founders and team of Bixee.com will become a part of MIH India.
Bixee.com, launched in October 2005, is a vertical search engine for jobs. Pixrat.com, launched early this year, is a social picture book marking website that lets users collect, organize and share pictures from anywhere on the web. MIH India has already beta launched its networking, blogging and photo sharing web site called ibibo.com.
Since MIH has kicked off M&A in this space, I am sure many other Web 2.0 companies in India – struggling to find ways to scale up – could be looking at strategic sale. All in all it’s a good sign.
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post