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Minglebox.com gets funding from Sequoia Capital India
Minglebox.com gets funding from Sequoia Capital India
- Minglebox.com is India's leading social networking site for college communities and young professionals.
- 2 million messages, over a million people connections and hundreds of thousands of photos, videos and blogs have been generated and
shared by users so far. - Highly innovative features tailored for Indian internet users
- The funding will be drawn in a phased manner in line with business needs.
Bangalore, 2 May, 2007: Minglebox.com, founded by three IIT Delhi alumni, today announced that Sequoia Capital India has committed an investment of $7 million in the company. The co-founders - Kavita Iyer, Sanjay Aggarwal and Sushma Abburi got their business and technology experience with companies like Yahoo, i2, ICICI, Wipro, HLL and Infosys before getting together with a vision to build a world class Indian internet company.
This investment will enable Minglebox to establish its leadership in the Indian internet space by providing its users with innovative features like authentic college communities, streaming music jukebox, live chitchat and a high degree of personalization and security. The funding will also pave way for extensive product development, technology innovation and expansion of market reach.
As part of this investment round, Mr. R. Ramarajex CEO and Co-founder of Sify joins the board of Minglebox. "We are pleased to partner with Sequoia Capital India, a top venture capital firm renowned for backing innovative internet companies. We look forward to working with Sequoia and benefiting from their world class experience and insights at the board level" said Kavita Iyer, CEO and co-founder, Minglebox.com
What sets minglebox apart, is the fact that the product has been tailored for the Indian market. The entire team has worked very hard to create a sense of belonging and make users feel absolutely at home. It's very gratifying to see the rapid rate at which this community is growing.
Minglebox possesses a compelling business model that has the potential to transform the Indian internet space. They are well on their way to creating the most exciting internet company for Indian users" said Sumir Chadha, Managing Director of Sequoia Capital India.
Minglebox.com is rapidly emerging as India's largest online hangout for college communities and young professionals. Since its inception, hundreds of thousands of users have become members of minglebox.
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit www.sequoiacap.com.
