ContentSutra reported that Seventy mm, the online dvd rental company has raised $12mn in its third round of funding:

Bangalore-based online DVD rental company Seventy mm has received $12.5 million (Rs 50 crore) from NEA Indo US Ventures. This will be the third round of funding for Seventymm, which now has a total capital of around $22 million.

Seventy mm plans to use this money to expand its online offering, and not foray into retail as Reliance Entertainment’s Big Flix are doing.

I was thinking of switching to Seventy mm away from my account at the local Shemaroo video store - they charge a ridiculous Rs. 125 per DVD per day (although for ‘old’ customers they’re pretty relaxed on the late fee policy). The reason why I haven’t made the switch Read the rest of this entry »

This post actually started out as a reply to a comment on Ashish’s (from pluggD.in) post on Reliance launching launching its Direct to Home (DTH) service called BigTV. Rohit - clearly quite frustrated asked “Why do large Indian companies have to get into EVERYTHING. Why not the world leaders in at least ONE thing.” Well Rohit, I can’t really tell you the answer to the second part, but let me say, as far as the first part is concerned - I hear you man, I feel you. To quote an aquaintance, ‘I’m afraid of the day I wake up, walk into the bathroom, pull out my Reliance toothbrush, squeeze on some Reliance toothpaste Read the rest of this entry »