SnapGalaxy introduces revenue earning model

SnapGalaxySnapGalaxy was launched in late 2006 with their primary focus of allowing users to send photo prints to friends and relatives. SnapGalaxy services are divided into 2 sub-categories — Printing Service and Online Service.

They allow you to send your photos anywhere in the world. They deliver premium quality photo products to their users and their friends, family and relatives. There is unlimited photo storage, photo sharing, PhotoFolio, VirtualPhoto and much more.

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Nasscom-ICICI KP joins hands for a Rs. 100 crore VC fund

The onslaught of “economical, rapidly deployable” private equity funding in India is growing and it looks like 2008 will see another year of such phenomenal growth. Today, the Economic Times (India) carried a Press Release of a recent formation of a NasscomICICI Knowledge Park fund of Rs. 100 crore (roughly $25.45 million). The fund is aimed at providing seed capital to startups creating intellectual property.

The corpus fund will be operated independently and managed by a professional team. Tata Consultancy Services (TCS), ICICI Knowledge Park and Bharti Airtel are the anchor investors.

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China has most incubators for innovative start-ups, next to the United States

Recently in China, the Ministry of Science and Technology announced that it has over 548 incubators, the second most in the world next to the United States. They are considered powerful in breeding innovative start-ups. The ministry reported the incubators had helped to raise about 20,000 high technology companies with over 569 garnering an annual revenues of almost $14 million US Dollars. In addition, 53 were listed on either domestic or overseas stock exchanges.
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ComVentures buys 19.17% stake in India TV

ComventuresEarlier ComVentures have invested $20 million in an Indian TV – NDTV which I think is about 25% stake. Comventures, in its continuing spree of heavy investment in India have continued to buy another major stake option in India TV, a 24×7 Hindi news channel of Independent News Services Pvt. Ltd. The investment of over Rs. 50.96 crore (about $11.5 million) amounting to 19.17% stake in Independent News Services Pvt. Ltd. puts India TV worth to the tune of Rs. 250 crore.
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