Sulekha.com announces addtl. investment by Norwest Venture

Chennai, Nov 02 (UNI) Sulekha.com, an online social media today announced that the U S based Norwest Venture Partners (NVP) has made an additional investment of 10 million US dollors in the company.

Company's CEO Satya Prabhakar told newsmen that they had successfully integrated its user-generated media and commerce in 25 cities worldwide.

He said the Sulekha.com was offering over 10 million pages of content. Almost all of it was contributed by hundreds of thousands of its members.

The company planned to use the new capital to extend business development and marketing, primarily through alliances, and expand the service offerings into new vertical markets, he said.

Mr Promod Heque, Managing Partner of NVP who has joined the Board of the company as one of its diirectors, said NVP was a global venture capital firm which had actively partnered with entrepreneurs to build great business for more than 45 years. They focussed on ivestments in information technology, including semi-conductor and components, systems, software, services and consumer/internet technologies.

He said they currently managed more than 2.5 billion USD in venture capital out of US and they had funded over 400 companies since their inception.

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