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Personal Finance Site Moneysights Shuts Down

Moneysights.com, a personal finance site focusing on mutual funds and stocks, operated by Bangalore based RupeeStreet Financial Services has shut shop, as reported by India Digital Review. In June 2011, Moneysights had raised $270k from Blume Ventures and Naveen Tewari, founder of InMobi. The last we checked, the website mentioned that, "moneysights will no more be offering its services beginning September 8, 2012. We are sorry to go". At the time of writing this article the website was offline. Moneysights first discontinued access to stock value quotes, portfolio values, among others in June 2012. In an email sent to its subscribers, moneysight said that, “While we never intended to do this, circumstances forced us to stop the updates. And over last few months, we concentrated our efforts to get back on track so that the service could continue uninterruptedly. Unfortunately, things haven't gone the way that would have been good for us & thus, to continue running MoneySights has turned an economically unviable and practically impossible proposition”. The company was founded in 2009 by former InMobi employees, Mukesh Kalra and Santosh Navlani. However, as of now it's not clear whether RupeeStreet Financial Services will pursue a different line of business. Implications While once a promising startup, moneysights started discontinuing many of its service as early as May, this year. One of the reason for its demise, that we suspect, could be that the mutual fund industry is currently launching its own online platform with support for ECS transfers. Last year, Sebi helped the two leading bourses-NSE…

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