Trivone Digital Services acquires WheelsUnplugged and Chakpak
Bangalore-based digital media and content services company Trivone Digital Services Pvt Ltd has acquired automobile portal WheelsUnplugged for an undisclosed amount. The portal provides latest news and updates on automobiles and also features a buyer's guide. A few weeks ago, Trivone also acquired entertainment portal Chakpak, a Bollywood news site offering news, photos and videos.
Both Trivone and Chakpak have a common investor in Accel Partners.
When Techcircle.in enquired about this, Sachin Bansal, co-founder and CEO of Flipkart, said, "We acquired the content catalogue from Chakpak but can't comment on other developments involving Chakpak."
According to a media report, Trivone will invest in the Chakpak brand and position it as an entertainment destination for South Indian movies.
In December 2011, Trivone raised an undisclosed amount in a Series A funding from Accel Partners. Chakpak received a second funding of about $5 million from Accel Partners back in December 2008 while the first round of funding came in January that year.
Promoted by journalist L Subramanyan, Trivone also acquired the management rights for three IT portals â€“ Techtree.com, ChannelTimes.com and CXOToday.com â€“ from UTV last year. The firm also undertakes managed services including creating, editing, sourcing and packaging content for online delivery, and provides outsourcing solutions for all digital content assets to a wide variety of clients.