Indian Video Site Tinselvision Closes Down, After $6 Million Funding
Tinselvision, an online video-on-demand service targeting South Asian communities in the US, UK and Canada which closed about $6 million in funding last year, has closed down, we have learned and confirmed. The company, based in Washington DC, has one investor: Innovative Entertainment Limited, a Geneva based subsidiary of Innovate Energy Group, and did two round of $3 million each, and boldly claimed that it had a “pre-launch, post-money valuation at nearly $20 million”. They had struck online distribution deals for television content with STAR TV, Zee TV, Zoom TV (BCCL group co) and Bollywood film content from Yash Raj Films, but the market conditions and some troubles with its investor led to the closure of the company in September this year, our sources say.
The company also tried to expand into India, but of course the competition there is tough, and online audience is still small.
Posted In: Entertainment, Movies, Countries, Asia, India, tinselvision
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Comments (0)
Dec 10, 2008 3:56 PM
So which ones are next ...rajshri.com , mypopkorn.com etc etc ...saregama shut its site ...after announcing big plans into the digital media ...( had big plans i suppose) all failed ....
guys undertsand what is internet ......plzzzzzz
u can make lots of money if your strategy is right
Dec 11, 2008 9:01 AM
Developing portals is nowadays is normal to everyone as per the technology concern, but building a strategy is for the portal is the method which is not everyone’s cup-of-tea.
Big brands developing web properties, but they are not considering the future of it, think most of the failure portals are listed companies from the beginning.
Thinking Big, Talking Big, Bigger Plans won;t make Business Success, we need Right Strategy to Implement it on Right Time. “Believe in you what can you do, and do not follow others saying I can also do” before following “some one” we need to study about the “some one” which is not happening in present web development..
This note is for all who are entered and entering in web property development.
Mohandas Alle
http://www.bestofmine.com
my dream portal yet to launch
Dec 11, 2008 4:40 PM
well I guess there are situation like this too on the internet, not only success stories like Google’s for example. Internet is a jungle
Dec 11, 2008 11:10 PM
To be success on the internet a correct strategy is needed, its not like just pour money in it and it will work out like what others say all the time, need to spent it wisely… $6 million is a lot of money down the drown
Dec 13, 2008 6:48 AM
an online video-on-demand service targeting South Asian communities in the US, UK and Canada, there was already too many video site taking too limited audience, 6 million funding was truely not well spenting. There was really no lead to all this project.
Dec 16, 2008 3:15 AM
dreadful for Bollywood online market. Tinsel vision gruop was positioned all over and financed well and with many experienced hands and many good ties in the space. They adapted their biz mod very fast when in comparison to most of the sites delivering similar conent. but what do you do when investors don’t uphold their bargain and economies are so bad. we are sorry to see them go.
Jan 12, 2009 5:44 PM
Wow, 6 million of funding is pretty large sum of money. I wonder where it will all lead in this world. There are pretty big sums being wasted right now and people in Africa are dying.
May 12, 2009 10:04 AM
success on the internet a correct strategy is needed,Big brands developing web properties.