wordpress blog stats
Connect with us

Hi, what are you looking for?

Valnet Inc Acquires Luxury Site BornRich.com

BornrichCanada based Valnet Inc has acquired BornRich.com, an online luxury site that covers lifestyle content, for an undisclosed amount.

While the terms of the acquisition were not disclosed, BornRich Founder Nandini Rathi has informed MediaNama that following the acquisition, she has exited the venture and has moved on to Instamedia founder Ankit Maheshwari’s BetaOut, handling its marketing strategy. This deal was first reported by NextBigWhat

Founded in January 2006 by Nandini Rathi, BornRich is a luxury portal that covers lifestyle content in categories such as shopping, auto, watch, estate, gadgets, among others. The site readership was mainly from the United States and claimed to have around 2.5 million readers and around 4 million monthly impressions. BornRich was a part of the Instamedia network, which had raised investment from Vishal Gondal, Samir Bangara and Times Internet*. TechCrunch had reported in 2008, quoting sources, that InstaMedia (then Instablogs) was clocking revenues of around $300,000 per year.

However, Nandini Rathi bought back BornRich from Times Internet last year and in February 2013, Instamedia sold off many of its properties to a Dubai based group. Instamedia founder Ankit Maheshwari had started up again, launching an editorial project management venture called BetaOut, with Vishal Gondal on its board (though not an investor) and Nandini Rathi is a part of the core team at BetaOut.

As for Valnet, there is not much information about the company on its website or elsewhere, except for the fact that it “acquires and operates several online assets across various segments”. Rathi says that Valnet has several properties in the luxury media space, although there is no specific information on these properties.

Updates: Updated to include credit to NextBigWhat

*Disclosure: Times Internet is an advertiser with MediaNama

Related:

Times Internet Backed InstaMedia Sold; Founder Starts Up Again
Instamedia To Offer Indian Content; Revamps Existing Blogs

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

The Delhi High Court on Monday refused to stop Amazon from pushing regulators to stop the sale of the Future Group’s businesses to Reliance...

News

Pine Labs has raised around $100 million in fresh funds from Lone Pine Capital, a hedge fund based in the United States, at a...

News

Restaurant aggregator and food delivery company Zomato has raised US$660 million (over ₹4,850 crore), taking its valuation to ₹3.9 billion. CEO Deepinder Goyal tweeted...

Uncategorized

Minister of Road Transport and Highways Nitin Gadkari said on December 17 that GPS-based tolling will replace toll plazas in two years, The Hindu...

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

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ