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VCs pick up 46 p.c. stake in Pressmart
HYDERABAD: Draper Fisher Juvetson (DFJ) and NEA IndoUS Ventures, two venture capital funds, have picked up a stake of 46 per cent in Pressmart Media Ltd. by investing $6 million (Rs. 25 crore), a multi channel digital delivery provider. Addressing a press conference, CEO of Pressmart Sanjiv Gupta said that the company, which digitised 350 print media publications in 35 countries, was proposing to expand to 5,000 publications. Pressmart was providing content of print media not only through ePapers, but making it available through mobile/handheld devices, RSS feeds, blogs, search engines and podcast. — Special Correspondent
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