Valley Based VC, Canaan Partners has no plans to fund any Web 2.0 companies in India. Canan had invested in BharatMatrimony.com 9 months ago and since then their haven’t been any big ticket investments.
Deepak Kamra, Partner at Cannan said,
Yes, there’s a frenzy in the US over these models such as YouTube clones, etc. However, we are excited only about transaction-based models.
In a way of speaking, half of the Web 2.0 businesses are under threat after companies such as Amazon and Google decided to cut the feed chord. Amazon cut the feeds for a fantastic site Alexaholic.com and Google unveiled its own version on My Maps. So if you are a Web 2.0 company built on MashUp idea, it would be advisable to list it on eBay and look for other avenues.
