Norwest Venture Partners sets it sights on Israel with new appointment
Norwest Venture Partners, one of Silicon Valley’s leading VC firms, has brought in Dror Nahumi, a former executive from one of Israel’s largest telecoms, to lead the firm’s investments in Israeli start-ups.
Israel’s start-up scene, which relies almost entirely on business from outside the country, has been posting good numbers. According to IVC, Israel’s VC research center, the country’s high tech sector saw $3.2 billion in mergers and acquisitions and $701 million in IPOs in 2007…. Continue Reading
Sulekha merges Facebook and Craigslist in India
A merger between Facebook and Craigslist may seem like a pipe dream — but in India it’s already happening. The web community Sulekha has quickly grown to become India’s largest user-generated content site with 6 million users, a number set to double this year. Social networking features and classified ads take up equally big parts of the site.
The site targets Indians worldwide. India holds 60 percent of the users. Another 30 percent live in North… Continue Reading
Indian social site Sulekha gets $10M from Norwest
Sulekha.com, one of India’s bigger social networking sites, has raised $10 million from a leading Silicon Valley venture firm, Norwest Venture Partners.
Sulekha provides Indians with 1) a networking component, meaning blogs and groups, and 2) an online marketplace for things like movies, events, travel and news in each of 25 cities. These cities are in India and in other cities with large Indian populations. These local sites also have small business listings — effectively local… Continue Reading