Couple of months back (November, 2011), Flipkart acquired Chakpak, though the acquisition was mainly to get the rights to Chakpak’s digital catalogue which includes 40,000 filmographies and 10,000 movies; and the company clearly mentioned that they won’t use the brand name for any other purpose.
And a month later (December, 2011), Accel Partners (an investor in Flipkart/Chakpak) announced Series A investment in Trivone Digital, a Bangalore based digital media and content company (which owns techtree, channeltimes and cxotoday portals).
And today, we noticed that Chakpak is owned by Trivone Digital – that is, all the content of Chakpak which was owned by Flipkart (for its music service, Flyte?) has been taken off; and the brand/site has been acquired by Trivone Digital, another Accel funded company.
As far as new Chakpak is concerned, it is focused more on south Indian cinema news (though we are surprised that they aren’t using any of the existing Facebook fan base etc and creating their own, as there are only 142 fans as of writing this article).
Chakpak: The Possibilities
I wrote an article ‘Chakpak’s future’ couple of months back and given the context of web2.0, Chakpak had a great brand and opportunity in front of them.
The site raised funding from Accel and later Canaan Partners. The core idea behind the VC funding was to become “the” digital marketing platform for Bollywood production houses as the site had the captive audience and hence, there was a potential to monetize the audience in a much better way.
Social was/is an important play and Bollywood production houses needed the major push in social media space. Typically, the production houses do not understand Internet so well (as opposed to print/TV) and that’s where existed an opportunity for a social site like Chakpak.
So who ate the lunch?
Facebook is where the community is. Facebook has killed/made irrelevant so many organic community ideas owing to its deeper penetration in online communities.For a Bollywood production house, it’s much easier to advertise on Facebook, reach out to a very well defined targeted segment as opposed to any other online service. And for general branding campaign, these production houses use Google/other ad networks.
What about Flipkart’s acquisition (of Chakpak)? Well, they could have tried doing an IMDB in India (which is still a BIG opportunity), but that probably involved rewriting the entire piece of code (translates to losing focus). As far as selling Chakpak is concerned, the deal seems to be driven by Accel Partners and I guess, it works both ways (i.e. for Flipkart as well as Trivone), as Chakpak was a content site and turning it into a product (like IMDB) is a different ball game.
Moreover, Chakpak was more of a content acquisition (and not brand/company acquisition) for Flipkart, so hopefully, it stays with the new owner (in the new avatar).
Aside,do you think there is an opportunity to do a IMDB for India?