Log has written
MONDAY, NOVEMBER 23, 2009
R-ADAG in talks to buy out Seventymm
Bangalore-based Seventymm is the largest online movie rental service in India, offering access to more than 15,000 titles across multiple languages
Reply to comment
Online Movie Rentals (Phew)!!!?!!?Even Netflix didnt generate this much of news when they crossed 5 mn customers. But true to our Indian style of being fixated withe BIG numbers - here goes. First 70mm gets funded 9 mn USD (2+7). Then not knowing how to spend their money and in the interest of those few elusive online renters scurry around the country side to set up shop while the rest of the country is renting on the road..Having done that and with still more money to spend and tons of free customers who are given free extensions ( a friend of mine is a member of 70mm and hasn't paid a single membership fee other than a deposit - which by the way he will get back after watching 30 FREE movies in 2 months), they buy what they cant build (Madhouse) - must have been a pretty MAD decision (from all accounts available seems Madhouse got a bad bunch to fund them and were pushed into a distress sale). Talk about frying pan to the fire.. Anyways, now comes BIG talk of 70MM being sold to Reliance ADAG. And these guys are supposd to be smart??? Dont know a lot about lots of things but when you pay good money it must be for a good business reason and not to buy hype.. But then again, what do I know, anything thats BIG must be built on hype..
Subodh
  • Please use English to post and reply to comments
  • Please do not use offensive language in the form of racial or ethnic slurs, abuse or personal insults
  • We welcome opinion and debate geared towards finding solutions
  • Please keep comments relevant to the topic
First Name*
Last Name*
Email*
Comments*
Maximum characters allowed-2000
Enter code*
Disclaimer
All the content posted in this category are made by the readers of livemint unless specified otherwise. Livemint is not responsible for the opinions of the readers and the content posted by the readers are not respresentative of the views and opinions of livemint.