Date:11/10/11,
M&A,
Domestic Deal,
Flipkart, a Bangalore based company acquires Mumbai based Mime360,a digital content platform, for undisclosed amount.
Mime360 (Manoramic International Media Exchange), a digital content platform founded by Sameer Nigam and Rahul Chari. The company ties up with content owners to host their digitized content, and then offers APIs to publishers and content aggregators for integrating with their business.
The company works on a pure revenue-share basis with content owners, and licenses out the encryption technology to web publishers and cloud service providers. It has tied up with Saregama, Universal Music and Inreco for content and delivers content to publishers like Gaana.com (Indiatimes), Myusic and iMusti.
Flipkart, which started as an online retailer of books in 2007, has slowly diversified into mobiles, cameras, movies and music CD/DVDs and electronic goods. It has offices in Bangalore, Mumbai, Delhi, Chennai and Kolkata.
The company works on a pure revenue-share basis with content owners, and licenses out the encryption technology to web publishers and cloud service providers. It has tied up with Saregama, Universal Music and Inreco for content and delivers content to publishers like Gaana.com (Indiatimes), Myusic and iMusti.
Flipkart, which started as an online retailer of books in 2007, has slowly diversified into mobiles, cameras, movies and music CD/DVDs and electronic goods. It has offices in Bangalore, Mumbai, Delhi, Chennai and Kolkata.
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