Last week, Venture Capital firm Sequoia invested $15 mn in Girnar Software for a 20% stake in the company. The deal values Girnar Software at $75 mn or a little over Rs 450 cr.
If you go by most accounts, it looks like the investment was made for its internet properties– Cardekho, Bikedekho and Pricedekho.
But then, a friend drew our attention to a little detail: GirnarSoftware was launched in 2007 as an outsourcing firm in Jaipur by IIT-Delhi alumni Amit & Anurag Jain!
Here’s another detail: Alexa suggests that traffic to all of its three consumer internet portals haven’t shown any significant growth. In fact, the graph shows some dip as well.
Which brings us to the question: Where did Sequoia see real value, the IT services business? Or the consumer Internet business? We don’t mean to disparage the company or Sequoia in anyway. Just looking for some signals & clarity!
What are your thoughts?