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TIL invests $4 mn in start-up Instamedia

Instamedia, a start-up company that provides on-demand content for a slew of internet sites, has raised $4 million from Times Internet, a subsidiary of India's largest media group Bennett, Coleman & Co.

ET Bureau|
Last Updated: Sep 09, 2010, 03.00 AM IST
BANGALORE: Instamedia, a start-up company that provides on-demand content for a slew of internet sites, has raised $4 million from Times Internet (TIL), a subsidiary of India’s largest media group Bennett, Coleman & Co (BCCL).

The first round of funding from TIL underlines the growing reach of online media platforms. “We are excited at the opportunity to help new, emerging media companies develop their businesses and grow the space. The entire Instamedia team has amazed us with their drive, creativity and clarity, and we are confident that they will continue to create a large presence in the digital content space globally,” said Satyan Gajwani, director of business development, BCCL.

Industry watchers feel that raising $4 million of series A investment within a year of starting up is a validation of the company’s business model that targets both enterprise and consumers.

“The Times Group will be a great long-term, strategic partner. They understand this space very well and bring a lot of experience and expertise to the table. We are also delighted to have Satyan Gajwani join our board of directors. It will be a challenge for us to meet his energy and passion,” said Ankit Maheshwari, CEO and co-founder of the Instamedia network.

Instamedia plans to use the proceeds of the strategic investment to grow its network of writers and accelerate its technology platform development. The company also plans to launch local sites, targeting the European and US audiences, which already today drive over 60% of their traffic.

The company’s 15 network sites run some of the fastest growing Internet sites in verticals such as lifestyle, green living and technology. In addition, its popular citizen journalism platform Instablogs has over 4 million monthly unique visitors.

The in-house proprietary platform, Instapress, which drives accountable and measured return on its content without compromising quality, has been one of the key drivers of its growth. Instapress implements efficient workflows to streamline collaboration between various content contributors, with objective measurement tools to track effectiveness.

Instamedia is also launching its fully hosted content solution, Instapress Content Server (ICS), which will allow other media networks to use the technology to drive greater RoI and performance from existing content production teams.

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Instamedia closes $4 million series A investment from The Times of India Group

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