Ideacts Innovations receives $ 5 mn fom Sequoia Capital

Televisionpoint.com Correspondent | Mumbai
Ideacts Innovations, an online media company, has received $ 5 million funding 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.

R Ramaraj, senior advisor, Sequoia Capital and Mohit Bhatnagar, operating partner, Sequoia Capital, have joined the Ideacts Innovations board of directors.

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.

"With Clink, Ideacts has stepped into the consumer internet space and by specifically targeting the white labeled cyber cafés, Clink is actually aiming the 20 million internet users who access from these cafes. Thus, by providing this new media platform, advertisers can tap the youth onto the net through cafes directly." said Ramaraj.

"We have already established an advertising alliance with MSN and will be providing the application software free of cost to the cyber cafes. We will pay them a fixed amount every month for using Clink,” said Rudrajeet Desai, co-founder and CEO, Ideacts Innovations.

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.