Times Internet acquires Moneysights
Moneylife Digital Team 27 October 2014
Times Internet recently acquired a defunct personal finance portal called Moneysights at an undisclosed price.
Moneysights, founded in 2009, by ex employees of InMobi, Mukesh Kalra and Santosh Nalvani, was a digital platform where one could buy and manage investment products. In 2012, however, the platform had to close its operations due to lack of funding. Moneysights had earlier raised funds from Prasad Duvvuri, a senior executive  with HP & IBM, Blume Ventures & In Mobi’s Naveen Tewari in June 2011. This has been bought by Times Internet.
According to Satya Gajwani, CEO of Times Internet, his team thought of catering to a key consumer need - buying, personalizing and managing their investments and it is this vision, that Moneysights is based upon. He also said that Mukesh, the Co-founder of Moneysights, has great understanding of the product and of the technology used therein and is passionate about working with him.
Mukesh Kalra, the Co-Founder of Moneysights is reported to have said that Moneysights was based on a strong business model but lacked a brand name and a strong distribution network. So, it required a partner that would supplement its weaknesses and Times Intermet is ideal for this.
With the acquisition, Times Internet adds to its kitt, an online investment management platform after acquiring CouponDunia and Dineout.
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