TV18 Group's Internet arm raises $10mn from New York inv fund

New Delhi, Oct 6 (UNI) Television Eighteen India today announced that its internet arm Web18 Carymans has raised 10 million dollars from New York-based investment fund Tracer Capital.

The company, however, did not divulge any further details.

Web18 Caymans holds all the Internet assets of the group -- including moneycontrol.com, ibnlive.com; commoditiescontrol.com; cricketnext.com, compareindia.com, jobstreet.com, yatra.com, tech2.com and urbaneye.com.

Of these sites, Web 18 acquired three companies -- cricketnext.com, compareindia.com and Urban Eye, a web design and technology firm -- in August to consolidate its focus on the Internet business further.

The Group' holding company Network 18 yesterday launched a full spectrum Division, marking its entry in the motion picture business.

The business spectrum of the company will involve acquisition, production, syndication and distribution of full-length feature films. Based in Mumbai, Studio 18 will have distribution offices in London and New York.

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