Times Internet backed Instamedia, once a blog network with as many as 17 properties, has been sold. InstaMedia and Instapress were sold off to a Dubai based group, while one of its earlier properties, BornRich.org, was acquired by one of the company’s founders, Nandini Rathi.
Another founder, Ankit Maheshwari, has started up again, launching an editorial project management venture called BetaOut, with angel investor Vishal Gondal on its board. Gondal and Samir Bangara had backed Instamedia before Times Internet invested $4 million in it.
Source: MediaNama
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