Pramath Raj Sinha-headed 9.9 Mediaworx has acquired content portal iGovernment.in for an undisclosed amount. iGovernment–founded by New Delhi-based journalists Shubhendu Parth and Pravin Prashant and incubated by Goosefish Media Ventures (a subsidiary of Webchutney)–is primarily a content portal focussing on governance issues and policy across several segments, with a significant events business. This is the first exit for Goosefish, which also owns tech news portal Alootechie.com and ad network Network Play. iGovernment was founded in March 2008, making this a relatively quick exit for Goosefish, which owns 51% in Blue Slate Media, the company that owns iGovernment.
Capital18, an arm of Network18 Media and Investments Ltd, is a significant shareholder in Webchutney. 9.9 Mediaworx raised $7.1 million last year from Helion Ventures and TVS Capital.