Ecommerce apparel portal Fetise.com, by Delhi based Fetise Retail Pvt Ltd, is on the verge of a shutdown due to corporate governance issues, according to a recent report. Seedfund, which had invested $5 million in Fetise two years ago, has written off its investment in the portal.
“We discovered several integrity and governance issues—things that we have zero tolerance for. So, these factors also led to a situation where we felt that choosing to fail and move on was the best course of action,” said Mahesh Murthy, Managing Partner of Seedfund. (via)
Mouthshut Comes Back Up After ISP Block
Earlier this week, review portal Mouthshut was by Bangalore based ISP ACT Internet and its Hyderabad-based subsidiary Beam Fibre, according to Medianama. The portal later put forward the issue to TRAI and DoT, following which the ISPs have enabled access to Mouthshut, but the reason for the block is still not known.
#housing.com Launches Service In Kolkotta
Housing and realty portal Housing.com has launched its Kolkota portal to its list of cities covered, which currently stands at 11 with this new addition. Kolkata was added as part of the portal’s second phase of expansion. Earlier in December 2013, the service had added a feature to help users find paying guest rentals in cities.