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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (1011)	3/3/2000 4:29:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OT News portal launched, looks for $10 million Our Corporate Bureau in New Delhi Tehelka.com, claimed to be India's first independent news portal, is "looking at a really comprehensive horizontal portal which will not only provide news, but also information on issues like literature". The majority stake in Tehelka Communications Ltd, the company to manage the portal, will be held by Tarun Tejpal, former managing editor of Outlook newsmagazine (52.5 per cent), and advertising professional Suhel Seth (25 per cent) It's an ambitious project and will be India's first independent news portal, Tehelka Communications' chief executive Tarun Tejpal told Business Standard. The board of this new dotcom company will include illustrious personalities like Khushwant Singh, R K Laxman, V S Naipaul and Russi Mody. In the initial phase the investment to be made in tehelka.com project is to the tune of approximately $2 million. The project, likely to be up by mid-May, is looking at attracting investments up to $10 million by second quarter of this year. According to Suhel Seth, involved in this venture in his personal capacity, tehelka.com will cater to both the high and low brow as it will have the zing necessary to attract hits. Though Seth was unwilling to divulge more financial details, IT industry sources said venture capital funding will be tapped too. "In the initial phase, about 10 per cent is likely to be offloaded to the venture capital fund which invests in the company," a source close to Tehelka Communications said, adding, "Talks are already on with a Mumbai-based VCF." A certain quantum of the equity stake in the company has been reserved for the employees stock option plan (ESOP), Tejpal said. This has been necessitated as some of the finest brains in journalism will be joining the project, including some from Outlook magazine. Tehelka.com is looking at having more than one model for generating revenue. One is the traditional one of making the site and detailed information subscription-based. Another stream of revenue being looked at is facilitating downloading of magazines and excerpts from yet to be published books for a price. But tehelka.com will have to face competition from existing news sites and portals like india-today.com and indiatimes.com and some like GO4I (go for India) which are in the offing and backed by big media houses. -Business Standard