If you are from the investment industry, you are probably aware of MingleBox’s second round of funding (raised around 3 months back)
The funding news was never made public, but confirmed sources 
tell us that MingleBox did raise it’s second round of funding from a Bangalore based venture arm (no, not sequoia, but a lesser known VC fund)- though amount is not disclosed.
And as we have mentioned earlier, the same is being used for deploying the new strategy – i.e. of moving away from being a fun social network to more serious, education based.
Any tip?
Why would they raise more money now – didnt they just raise $5M+ from Trident?
http://www.tridentcap.com/Internet.asp#mingle
@JLT – any idea when was that?
Er… looking at funding on various startups by VCs like SeedFund, Sequoia, Vivek Pahwa, Crident, Cannan Partners I see a dot com burst in early 2010 in India.
http://en.wikipedia.org/wiki/Greater_fool_theory
I don’t know why people are wasting so much money!
how did they burn thru their 1st round? And what do they have to show for it? Minglebox is a shabby product, which says it all about their team!
why don’t they do the next best thing and invest in more viable business models of other companies?
Just kidding…these kinds of escapades by the infallible VCs just cracks me up
I am unable to imagine how is it possible for a company to burn $7 mn in 18 months flat (15 months if their funding happened 3 months earlier). And even if they did manage to burn so much money, how the hell is it possible to receive another round with nothing to show for other than a huge appetite for gobbling money.
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What is revenue model of all these Social Networking sites; Online advertising is almost dead wonder how come still VCs putting money is such ventures
How can they compete with facebook, when even die hard orkutter are making the transition to FB? While education is a nice space to be in, their site seems to be more information than interaction. And what is their new revenue model? Get money from colleges to maintain pages there? or make money from small banner ads from UK and Singapore universities? What’s the association between looking for higher education and ‘mingling’ anyway?
It seems smart that they can suddenly help a lot of their subscribers who were in school or early college when they signed up on Minglebox, with future education plans. But how are they making money? Are they selling new-to-college kits? admission forms?