**OT** South Asian Portal Chaitime Gets $25 mil Boost
chaitime.com
By Uday Lal Pai
India Correspondent, asia.internet.com
[February 25, 2000--MUMBAI] US-based Chaitime, a portal aimed at South Asians, plans to establish itself in India and also build the Chaitime brand globally.
The recent investment of US$25 million in Chaitime.com by eVentures India, with participation by RAFNet Ventures, will be used to expand activities targeted at the South Asian online community.
This community encompasses seven countries: India, Pakistan, Sri Lanka, Bangladesh, Nepal, the Maldives and Bhutan.
Chaitime.com claims to be the premier gathering place on the Web for South Asians to network, access information, shop, debate issues and build community ties.
The site features culture-specific channels such as astrology, careers, cricket, greeting cards, music, and news, in addition to free e-mail, chat and discussion groups.
eVentures India, a joint venture between Softbank Corp., ePartners (a subsidiary of News Corporation), and P.K. Mittal (Ispat Group), identifies and assists promising local Internet ventures to expand globally, in addition to facilitating market expansion into the country by established Internet companies.
Chaitime.com has already formed partnerships and alliances with companies such as Hagglezone, Destia, PleaseRSVP, theglobe.com, The Banyan Tree, Indiaclub, I-frontier, Weather Underground, and India Abroad. |
