Innovations, an online media company, has recently received $5 million in investment from venture capital fund Sequoia Capital. The first round of funding has already come through and it will be used to develop Ideacts Innovations' new Internet media platform, Clinck.
Clinck is a desktop application designed for shared Internet access, particularly in cyber cafés. However, the application can also be used at other places where there is shared Internet access, such as offices. Once it is installed on the computer, it hides the existing operating system and acts as a platform to log on to the Internet. It also hosts advertising on the application and allows more brand visibility.
Rudrajeet Desai, co-founder and chief executive officer, Ideacts Innovations, believes that the cyber cafe sector will see 8 per cent growth in the next one year. Around 43 national brands are advertised on the application. They include Cadbury's, ICICI Bank, Sony, Pepsi, Yahoo.com, Monster.com, Shaadi.com and Indiatimes.
The company has tied up with MSN to provide live news, a search option on its application and online storage.
R Ramaraj, senior advisor, Sequoia Capital India, says, "Each café has at least 10 computers, so we get noticed 10 times over in each of them."
Desai adds, "Cyber cafes are also the fastest, cheapest and most convenient platform to access the Internet."
They plan to market the product by word of mouth and by holding on-ground activities with the existing cyber café members.
Ideacts Innovations was set up in March 2007 with the aim of developing Internet advertising opportunities and Clinck is its first product in this segment. First Published : July 03, 2008