Four Interactive Gets $10 Million In Second Round Funding From Lightspeed, SVB and Matrix Partners
Four Interactive, a Bangalore-based online local search company has received $10 million in second round of funding from Lightspeed Venture Partners, Silicon Valley Bank and Matrix Partners India, reports VCCircle. The company had received $2 million from Matrix Partners around seven months ago. Jake Seid, General Partner with Lightspeed is joining the company’s board.
Four Interactive runs local information service AskLaila.com which currently provides information related to events, food, shopping etc for Bangalore, and intends to expand its coverage to Delhi, Mumbai, Kolkata, Hyderabad and Chennai in the next 12 months. They have a long term target of 22 cities. Interestingly, the company is building it’s own local information database, unlike most others which take information from Infomedia. Four Interactive was launched with plans do develop services that
What would a pretty user facing site need $10 million for? And that too in such a short time of their getting 2 million?
Will Four Interactive be able to compete with Google's local search engine, esply since it is now avavilable in local languages too?
Could someone suggest how a 36 yr old INDIVIDUAL with NO experience other than 15 yrs service in the Indian Army could raise VC of $ 40 Mn for his idea?
I think local search is a great idea! google is too busy taking care of bigger search……