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Info Edge Writes Off Rs 2.6 Cr Investment In Nogle Technologies


Info Edge, the company that runs Naukri, 99acres and Jeevansathi, has written off its entire Rs 2.6 crore investment in Nogle Technologies Private Limited, which operates the online content sharing portal Floost.com (earlier known as Blinkk.me). The company revealed this information in its earnings results for the quarter ending June 30, 2013.

Nogle Technologies had raised Rs 1 crore from Info Edge in Q4 2011 and another Rs 1 crore in Q4 2012 until now. Last month, Info Edge had disclosed (pdf) in its annual report that it had invested a total of Rs 2.6 crore in Nogle Technologies for a 31% stake.

Nogle had initially launched an online information sharing portal called ynotshare.com, which was a content aggregator that asked readers to email content to them, and then categorizes and republish the same content, including images, on its site. Blinkk.me Co-Founder Siddharth Goyal had however told MediaNama in March 2011, that they intend to take YNotShare down, since it was just a proof of concept. The company seems to have pulled the plug on the site since then.

Nogle had then launched a content sharing portal called Blinkk.me in May 2011, which was later rebranded as Floost.com in December 2011. While Blinkk.me aimed at being a personal identity service, Floost aims at doing a lot of things by offering both a blogging platform and a content aggregation platform.

It provided a content aggregation platform which aims to allow users explore content based on their interests, in a Pinterest-like format. It also allows users to like or re-post any item to their stream. One could also follow any specific users to view content posted by these users on their stream.

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In addition to this, it also offers a Tumblr and the now defunct Posterous like blogging platform by allowing users to post content like text, link, image, and video on their profile through the website or via email. Interestingly, it also allows users to import old blog posts from WordPress, Tumblr, Posterous, and Blogger to the Floost platform.

RelatedFloost Launches Blogging & Content Aggregator Platform; Tries To Do Everything

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© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ