Social Networking - Monday, July 28, 2008
Intel Invests In Indian What's Happenin' Portal BuzzInTown
Intel has invested an undisclosed amount in Wortal, which calls BuzzInTown "Our first baby." This is Series A for Wortal, which says that it has raised angel funding. The concept is that there are a lot of options for young Indians with some disposable income. BuzzInTown can help them keep track of musicals, plays, book reads, concerts, sports, live bands, exhibitions and expos. For people living in the US the site will hardly bowl you over. But we understand there are not many Web 2.0 sites in India to track entertainment.
Wortal is led by CEO and Co-Founder Amitabh Saran who is a computer science PhD who worked at HP and NASA among other places.
Intel also announced that it invested in travel site as well as Yatra Emnet Samsara Media Pvt., an out-of-home advertising firm focusing on the Indian public transportation market. Between the 3, Intel says it invested $17M. Seems odd that Intel keeps making group investing announcements like this.
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