Jul 20, 2007
NEA’s Kittu Kolluri on Entrepreneurship
Kittu Kolluri's Profile:
Kittu joined NEA in 2006 as a General Partner and focuses on information technology investments. Present NEA board memberships include Nevis Networks, RingCube Technologies, SnapTell, Teracent, and WeatherBill. Prior NEA board memberships include PortAuthority (NASDAQ: WBSN). Formerly, Kittu was Executive Vice President and General Manager of the Security Products Group at Juniper Networks, a position he assumed following Juniper's acquisition of NetScreen Technologies. At NetScreen, he was General Manager of Secure Access Products, a position he assumed following NetScreen's acquisition of Neoteris, where he served as President and Chief Executive Officer. Kittu brings more than 17 years of experience at the leading edge of the technology industry. He co-founded Healtheon/WebMD, introducing online healthcare to the market. As Senior Vice President and General Manager of Provider Services, Kittu was responsible for product development, operations and business development. Before co-founding Healtheon/WebMD, Kittu worked at Silicon Graphics, Inc. (SGI) managing high profile Interactive TV projects. He also serves on the Board of Directors at Determina. Kittu holds a B.Tech in Mechanical Engineering from Indian Institute of Technology, Madras, India, and a M.S. in Operations Research from the State University of New York, Buffalo.
Check the Kamla Bhatt's podcast link to see his views on Entrepreneurship :
Part One:
http://www.podtech.net/home/3546/neas-kittu-kolluri-on-
entrepreneurship-part-i
Part Two:
http://www.podtech.net/home/3618/neas-kittu-kolluri-on-
entrepreneurship-part-2
Mayfield Fund’s Yogen Dalal on IIT, India and Entrpeneurship
Yogen currently sits on the boards of Affinity Labs, Consorte, Packet Design, PacketHop, Podbridge and Revenue Science. Yogen's past notable investments include Arbor Software, BeVocal, BroadVision, Concur, Nuance, OuterBay, Packet Engines, Snapfish, TIBCO, Vantive and Whistle.
Prior to joining Mayfield, Yogen was a founding member of two successful startups, Claris Corporation and Metaphor Computer Systems. Yogen was also a member of the original Star and Ethernet development teams at Xerox and a co-author of the TCP Specification while at Stanford University.
Yogen earned a Ph.D. in Electrical Engineering and Computer Science from Stanford and a B.Tech. in Electrical Engineering from the Indian Institute of Technology, Bombay where he was recently honored as a Distinguished Alum.
Yogen is a Charter Member of TiE and a board member of the Entrepreneurs Foundation. He also serves on the board of the Oregon Shakespeare Festival, a nationally acclaimed professional non-profit theater company in Ashland, Oregon.
Check out Kamla Bhatt's podcast link to hear his views.
If you are facing problems with the link then simply copy and paste following link in the browser.
http://www.podtech.net/home/3631/mayfield-funds-yogen-dalal-on-iit-india-and-entrepreneurship
Jul 19, 2007
RCom plans largest wireless network in the world
Reliance Communications has grand plans. The Anil Ambani-led telecommunications major aims to have the single largest wireless network in the world by year-end, covering over 900 million Indians.
The company has more than 1 million retail customers in the United States, the largest for any Indian company across any sector, a media release from RCom said.
RCom has launched virtual international calling and voice content services in the US, Canada, UK, Australia and New Zealand. The company is one of the leading providers of international connectivity and data services to telecom operators, content providers and Internet communities.
- Reliance Communications plans to invest Rs 16,000 crore for network expansion in FY08.
- Company will launch DTH services by end of this year.
- Reliance Communications to spin-out BPO business.
- Reliance Communications to unlock value in Flag Telecom through private placement of equity and international listing of shares before year-end. The company will also unlock value in tower business through placement of minority stake to financial investors.
RCOM undertaking 4 key initiatives for unlocking value this year.
- Unlocking of value in TowerCo through placement of minority stake to financial investors at an advanced stage.
- Expect positive surprise in TowerCo valuation compared to analyst estimates.
- Yipes acquisition to substantially enhance FLAG Telecom valuation.
- Unlocking of value in FLAG Telecom through private placement of equity and/ or international listing of shares before year-end.
Further unlocking of value through development of Special Economic Zone at Dhirubhai Ambani Knowledge Centre focused on IT and IT-enabled services.
IT/ITES SEZ project already cleared by the GOI's Board of Approvals.
Check the full story at : http://inhome.rediff.com/money/2007/jul/17rcom.htm
WatchIndia launches Internet TV Portal for Indians
Subscription package costs $25 /- month and can be viewed anywhere except in India.
WatchIndia is the first site for Live Asia TV, a media company that was founded in early 2006. Live Asia's goal is to bring ethnic programming to those residing outside their country of origin. WatchIndia is partnering with top rated networks in India to provide breaking news, hit series and entertainment specials, fascinating documentaries, thrilling sports events, cricket matches, exclusive commentary, and the best of Bollywood movies. Zoom, Times Now, Aastha, IOL, Zee TV, and Zee Sports can all be viewed live on WatchIndia.com, on Video On Demand or downloaded via the Download Store.
Check out the full article at
earthtimes.org link or simply copy paste the following link to the browser http://www.earthtimes.org/articles/show/news_press_release,140697.shtmlJul 17, 2007
Why it makes sense to join start-ups
Amar Goel has also tried to explain why it makes difference to join a start-up than an established firm. Following are some of his views:
“Generally speaking, youngsters in India are still too concerned about the stability of their jobs and getting married,” writes Amar Goel, CEO and founder of Komli Media, in his blog. Then he goes on to analyse “why this concern with job stability just doesn’t make sense if you are really good at what you do and are confident in that.”
“If you want to make some serious money you have to take some risk and join something early, at least among the first 50 employees."
“If you are smart, have a good idea, and can assemble a good team, then statistically, you have a lesser chance of failing today and in the next 10 years than at any time in India’s past."
“What is the difference between joining a startup that you like and the worst case happens in 2 years versus you join a “stable” company and in 2 years you leave because you don’t like the work?"
“I know a number of people in Silicon Valley who have made a career of working at startups, and are fully aware that some will be winners, and most won’t. They figure if they work at 5 startups over 10 years maybe one or two will be successful and that’s more financially rewarding than working at an already successful company as the 2000th employee.”
American Indians working for Rural India
Excerpt from website - "In 1996 a few Indian Americans living in the west coast of the United States of America, became the change agents to translate the dream of giving back to the country of their birth. They realized that poverty is the worst malady and that the remedy was education, health care and social development. They set out to refine, define and foster a prosperous rural India, along with the financial support of many successful Indian's in the Silicon Valley and elsewhere in the US. Today, India Rural Development Fund projects have helped many poor rural families in India."
"India Rural Development Fund (IRDF), finances and supports rural development projects run by non-governmental organizations in India. Our focus is on education, vocational training, health, family planning, and infrastructure development."
"IRDF partnering with other nonprofit organizations would like to achieve the following goals in rural India:
- access to primary and vocational education;
- reduce population growth rate;
- reduce infant mortality, and improve health and hygiene;
- promote sustainable economic development."
Please do send your comments/ suggestions or if you think that you know similar organizations/funds.
Jul 16, 2007
Venture Capital is over rated - Komli Founder
“If you are not sure about wanting to build a large business then do not raise venture capital. If you are concerned giving other people a lot of say in your business do not raise venture capital. If you never want to sell your company or go public do not raise venture capital."
“If you would like to build at least a $20M business over 3-5 years and ideally a $100M+ business over 5-7 years you are a prime candidate for venture capital. If you want to build a $3M business over the next 5 years do not raise venture capital."
“I find lots of people who seem to get really excited by the prospect of raising venture capital. Don’t be… The sexiness of a press release saying you raised venture capital from XYZ and ABC lasts about 1 day."
“VCs are not in the business of coming up with crazy ideas and then throwing them against the wall and seeing if they stick. That is the job of entrepreneurs. That’s why most VCs will be loathe to invest in some “idea” you have that will change the world that nobody has ever done before."
“Venture capital is a very expensive form of investment for your company. If you are the typical early stage startup you are going to give 20-35% of your startup for $1-4 million of investment.”
Check out : http://amargoel.com/
Rediff in radar of Google and Yahoo (News in HT; Later came to be fake)
An article from Hindustan Times (Later denied by Rediff CEO, Ajit Balakrishnan)
US-based Internet giants such as Google and Yahoo are eyeing Rediff.com India Ltd, which runs one of India's most popular consumer Internet portals, for a possible acquisition. Investment banking sources told Hindustan Times that the management of Nasdaq-listed Rediff was in talks with the global companies for a negotiated takeover deal.
Rediff, Google and Yahoo officials could not be immediately reached for their comments. Talk of the deal is emerging in the context of a general worldwide rebound in the Internet business, and India emerging as a hot story in the global economy with strong growth in both telephone penetration and the Internet in urban areas.
Leading US-based investment journal Barrons reported this month that Rediff is seeing speculation that it could be a takeover target. Rediff’s stock has witnessed a sharp jump in share price and volume on Nasdaq over the past week, when it also launched a Website to help consumers upload voice, video and photographic content for free.
The company's stock moved up to $25.41 per share on July 13 from $17.94 on July 5 and. The trading volume has increased to more than a million shares from an average of 50,000 share a day. In fact, on July 12, Rediff shares closed at $26.46 and more than 3.3 million shares traded hands. The company has a current market capitalisation of $738 million.
The sources said if the deal comes through, the valuation may be close to a billion US dollars.
The Barrons report quoted Ashish Thadani, an analyst at Gilford Securities, as saying that Rediff could fetch more than $ 25 a share in a sale and could see other suitors besides Yahoo and Google
Other suitors could possibly include AOL (America On Line), a division of Time Warner, which has a strong presence in offshore services from India, but is not a significant player in the market. Microsoft's MSN portal is also keenly stepping up its presence in the Indian market.
Rediff.com India, an online provider of news, information, communication, entertainment and shopping services, reported a net income of $2 million for the fourth quarter or $6.89 per ADS, compared with $0.53 million or $1.96 per ADS in the same quarter of the previous year.
The company's revenues increased 66 per cent to $8.48 million from $5.11 million in the same quarter of last year. India Online revenues, which include advertising and fee-based revenues, jumped 76 per cent to $6.30 million from $3.57 million in the year-ago quarter, while US Publishing revenues were $2.18 million, up 42 per cent from $1.54 million a year earlier.