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Updated: Trivone Acquires Chakpak.com & WheelsUnplugged.com

Trivone Digital Services, a digital media and content company, has acquired entertainment portal chakpak.com and an automobile portal wheelsunplugged.com. The exact terms of the deal and financial details have not been disclosed. Pluggd.in had earlier reported Chakpak’s acquisition by Trivone.

Update: Trivone told MediaNama that it acquired Chakpak from Flipkart.com Chakpak Media pvt Ltd. Chakpak had also received a funding of about $5 million from venture captial firm Accel Partners, the same venture firm which has invested in Trivone Digital Services. *Flipkart and Trivone inform us that Flipkart was not involved in the transaction. The Trivone spokesperson had mentioned Flipkart’s name in error.

 

Trivone says that it will invest in the Chakpak brand and position it as an entertainment destination for South movies. Wheelsunplugged.com will focus on being the information portal on the automobile industry. In December 2011, Accel Partners invested in Trivone for an unspecified amount. Chakpak.com recently revamped their website in March 2012. Previously, Flipkart had acquired the rights to Chakpak’s digital catalogue which includes 40,000 filmographies, 10,000 movies and close to 50,000 ratings.

Wheelsunplugged, an automobile portal, which provides latest news updates on automobiles, provides a buyers guide. Wheelsunplugged recently launched a marketplace in December 2011, which allows users to sell and purchase second-hand cars. Trivone acquired the property from Red Tree Convergent  Media Pvt Ltd.

Bangalore based Trivone manages services including creating, editing, sourcing and packaging content for delivery online and outsourcing of all Digital Content assets. Founded by L. ‘Subu’ Subramanyan, Trivone manages three IT Media Properties – www.techtree.com, www.channeltimes.com and www.cxotoday.com, for which it acquired management rights from UTV Interactive.

 

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MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

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