Ideacts Innovations
Let us discuss today the story of 3 Entrepreneurs – Maninder Gill, Saurabh Khullar & Rudrajeet Desai – The co-founders of Ideacts Innovations.
In countries like India, Cyber cafes still remain the main access point for more than 40% Internet users even though personal computers have become a main part.
During the year 2000, Internet cafes were starting to mushroom in India. This made realize this team that computer screens at cyber cafes could be used for something far more interactive. And That’s why they have developed a desktop application.
They developed a Desktop Application that would enable ads to be screened on computer desktops in cafes. In return, cafe owners would be paid a fixed sum every month. They got advertisers like Yahoo, Hungama and Kinetic Honda and managed to tied-up with 45 odd cafes in Pune.
According to Desai, They made some money which they blew up on parties.
But after the dot com bust they went in trouble and they were only 20 so they shut down the business. Ideacts than ceased the operations and the trio went to work in fields as different as media, technology and finance.
In 2007, the trio meet again and decided to start again. But this time they were mature and with experience from various backgrounds. They pooled their savings and collected Rs.10 lakhs for start-up capital.
And this time within 5 months, they developed a Desktop Application known as “CLINCK”.
In November, 2007 the Ideacts raised US $ 5 Million (Rs.25 Crore) from Sequoia Capital.
Today it has 120 advertisers and operations in 19 cities over 58 locations and 21,000 + PC terminals in over 3,500 Cyber cafes.
Though Ideacts is yet to break even, its growth plans are on track. It has recently received fresh round of Venture Capital funding from Sequoia Capital and SVB Financial Group with which it plans to enter in Tier-2 & 3 cities.
Let us discuss today the story of 3 Entrepreneurs – Maninder Gill, Saurabh Khullar & Rudrajeet Desai – The co-founders of Ideacts Innovations.
In countries like India, Cyber cafes still remain the main access point for more than 40% Internet users even though personal computers have become a main part.
During the year 2000, Internet cafes were starting to mushroom in India. This made realize this team that computer screens at cyber cafes could be used for something far more interactive. And That’s why they have developed a desktop application.
They developed a Desktop Application that would enable ads to be screened on computer desktops in cafes. In return, cafe owners would be paid a fixed sum every month. They got advertisers like Yahoo, Hungama and Kinetic Honda and managed to tied-up with 45 odd cafes in Pune.
According to Desai, They made some money which they blew up on parties.
But after the dot com bust they went in trouble and they were only 20 so they shut down the business. Ideacts than ceased the operations and the trio went to work in fields as different as media, technology and finance.
In 2007, the trio meet again and decided to start again. But this time they were mature and with experience from various backgrounds. They pooled their savings and collected Rs.10 lakhs for start-up capital.
And this time within 5 months, they developed a Desktop Application known as “CLINCK”.
In November, 2007 the Ideacts raised US $ 5 Million (Rs.25 Crore) from Sequoia Capital.
Today it has 120 advertisers and operations in 19 cities over 58 locations and 21,000 + PC terminals in over 3,500 Cyber cafes.
Though Ideacts is yet to break even, its growth plans are on track. It has recently received fresh round of Venture Capital funding from Sequoia Capital and SVB Financial Group with which it plans to enter in Tier-2 & 3 cities.
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