Internet video startup, TinselVision has closed it’s operations and the site now throws 403 error.
Tinselvision closed $6mn last year and their video-on-demand service was targeted towards South Asian communities in the US, UK and Canada.
They had struck online distribution deals for television content with STAR TV, Zee TV, Zoom TV (BCCL group co) and Bollywood film content from Yash Raj Films, but the market conditions and some troubles with its investor led to the closure of the company in September this year – source
Does this talks of state of online video in India? From what we have heard, another ‘well-funded’ player too has laid off 20 employees last month, citing cash crunch and limited revenues.
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Ashish, Do you have stats of start-ups in the past 10 years in different industries – internet, out-of-home, etc – and how they are doing 5years after they set off? It will make a nice. It will be an insightful reflection.
Most of the start-ups I know in the telecom space had on an average taken between $20~$35million in the 2003~05 timeframe, had fancy offices, and paid heavenly salaries. Well, many of them arent around or are riding the paper tiger i.e. acquired by another essentially-vapor telecom start up with greater funding and which was listed, and kept talking about great future potential to keep its price high.