Indian Internet firms clicking big deals

The Facebook IPO has the world captivated but far away from Wall Street, Indian Internet companies have managed to get some mouth watering valuations as well. 2011 was a big year with USD 500 million coming in across 67 deals in the Internet space and 2012 promises to be as exciting with action from The TiE India Internet Day, reports Shruti Mishra of CNBC-TV18.

Who would have ever heard of a billion dollar valuation in less than three years, or even a USD 100 billion IPO? The internet space has given the world all this and more. While we can't google the future, investors, entrepreneurs and thought leaders at ‘The TiE India Internet Day 2012’ continue to be bullish on the Indian Internet economy despite the current economic slowdown. 2011 saw VC's and PE's pumping in USD 500 million into Internet companies and the deal pipeline continues to look robust.
Vani Kola, MD, IUVP, says last year was about USD 500 or so, I believe this year it will continue at the same pace, I don't see a dramatic increase until we have some proven exits. I think 2012 in my opinion will see lot younger companies get funded.
Fund flows are strong. India's largest horizontal classifieds platform, Quikr has just seen USD 32 million came in from Warburg Pincus, with participation from Matrix, Norwest and eBay.
Pranay Chulet, CEO, Quikr, say we are going to use this investment for not just product and investment in our mobile channel but also get more aggressive on our marketing side and last but not the least, we will also be open to some acquisition opportunities.
Quickr is not the only one on the prowl. India's largest deal site, Kunal Bahl's Snapdeal is looking at growing acquisitively, a route taken by companies like Flipkart which recently acquired its competitor Letsbuy for Rs 125 crore. So while the India story may have lost sheen the Indian Internet story continues to shine.