Founders/Owners of Delhi based People Group, the company which owns and operates matrimonial portal Shaadi.com and real estate portal Makaan.com, wanted to invest in media related startups in India with early age capital as per news by Economic Times.
People Group will look to invest from $25,000 (around Rs 15 lakh) to $2 million (about Rs 12 crore) from its balance sheet.
People Group announced its first investment earlier this month by participating in the Rs 1.8-crore round of Flinto, maker of educational activity kits for children, along with GSF Superangels and other investors.
Origins of People Group came with the beginning of Shaadi.com in 1996, the Group was formally launched by Anupam Mittal in 2004 to explore opportunities in the Internet & Mobile. So far company has developed brands like Shaadi.com, Makaan.com, Mauj mobile as well as Fropper.com, a friendship and social networking service.
"Early-stage startup ecosystem is still in its infancy in India and new ventures struggle to hire and scale up," said Anupam Mittal, founder and chief executive of People Group, adding that this is something that the company will seek to address through its investments.
Anupam Mittal has been an active angel investor with over 40 investments in businesses including online cab booking ventures Ola and Sharedcab, cloud data integration startup Zapstitch and software startup Peelworks. One of Mittal's prominent angel investments was in digital marketing agency Inter active Avenues, which was acquired by IPG Mediabrands in 2013 reportedly for Rs 350-400 crore.
People Group itself is backed by Sequoia Capital, Intel Capital, Silicon Valley Bank and Citibank. These venture capital firms had invested $18 million (about Rs 110 crore at current rates) in the company back in 2006.
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