HT Media Buys Social Networking Site DesiMartini

Hindustan Times Media group has bought social networking site, through its online subsidiary Firefly eVentures. The financial terms were not disclosed, but HT Media said it was for less than $10 million (Rs 39.3 crore). The site was launched late last year, and has a membership base of 250,000, and has around 2.5 million page views a month, the company says.

Of course there is tons of competition in the space: Google’s (NSDQ: GOOG) Orkut, ibibo, Indyarocks, Yaari and Bigadda, among others. According to Amit Garg, business head, internet, HT Media,