Sabeer Bhatiya’s Apnacircle (review) has been acquired by Viadeo, France based business networking site.
ApnaCircle boasts of 350,000 member base and raised investment from BCCL – the acquisition will result in BCCL opening up the ad space (across print/media) for Viadeo (via).
An interesting statement from the press release:
Based on the concept that business networking is closely linked to local culture and that its success is reliant on its proximity to its members, Viadeo will be keeping the name of ApnaCirlce.com which is already perfectly adapted to Indian business habits.
How true is this? How many serious users are on ApnaCircle? (InfoEdge’s Brijj claims 8Lakh users (800 CEOs) and LinkedIn had a million userbase 8 months back)
What do you think of this deal? Distress sale?
Related: Another career networking site, Techtribe joins deadpool. Also, Times Group has a business networking portal, PeerPower.