Update: Maheshwari has posted on the BetaOut blog about challenges with scaling, building a CMS which they licensed to Nokia and UTV, but points towards struggles with scaling editorial workflow processes. (via Nextbigwhat) Earlier Today: Times Internet* backed Instamedia, once a blog network with as many as 17 properties, has gone down, with some of its properties, including flagship properties Instamedia.com, InstaBlogs.com sold off, less than a year after it decided to target the India market. The founder, Ankit Maheshwari, has started up again, launching an editorial project management venture called BetaOut, with Vishal Gondal on its board (though not an investor, Maheshwari clarified). Gondal and Samir Bangara had backed Instamedia before Times Internet invested $4 million in it. TechCrunch had reported in 2008, quoting sources, that InstaMedia (then Instablogs) had revenues of around $300,000 per year. In an emailed response to MediaNama, Maheshwari has said that InstaMedia and Instapress were sold off to a Dubai based group, while one of its earlier properties, BornRich.org, was acquired by one of the founders, Nandini Rathi. InstaMedia now has a fairly expansive profile of its new owner, Dr. Prem, while InstaBlogs bears a note on the footer that reads 'Promoted by Dr Prem'. BornRich still has Instamedia related Terms of Use. Maheshwari was very evasive about InstaMedia being piece mealed and sold off, saying (repeatedly) only that "Instamedia found a better home" and "It is still growing under a different leadership". He points towards to a blog post from Gajwani on the Times Internet blog, which reads: Instamedia -…
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