Thursday, February 05, 2009

MOGAE DIGITAL RECEIVES $5M FUNDING FROM ASTRO

Ruchika Chitravanshi, New Delhi
Financial Chronicle

The 3G revolution has got many digital agencies gearing up for the changing ways of communication. Malaysia-based Astro group has picked up 50 per cent stake in Mogae Digital and plans to make an investment of upto $5 million in the venture. Promoted by Sandeep Goyal, who is also the joint venture partner of Dentsu, Mogae Digital plans to launch a social networking services portal.

The speciality of the portal would be that even with a basic phone, users would be able to interact, exchange news and views and gain value from a number of embedded verticals. “We intend to be at the forefront of the content revolution that will unfold with the launch of 3G services in India. Any phone that supports a basic 160 character SMS is the target audience for us,” said Sandeep Goyal.

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