Infibeam Acquires Photo Printing Portal Picsquare

Acquisitions

▤ Summary

Bangalore based photo printing portal Picsqure has been sold to Indian online retail firm Infibeam. Previous story posted on Monday (17/11/08): The economic slowdown seems to have started having an impact on Indias web 2.0 startups. In 2006, Picsquare raised $75,000 from three angel investors - Sanjay Swami, CEO of mCheck, Shripati Acharya, founder of Snapfish and Vijay Iyer, Vice President of Strategic Alliances, Silver Creek Systems Inc. Then, in August this year, it also roped in a strategic partner, Bhola Digital Lab, an offline photo printing company. Ahmedabad-based Infibeam sells products via internet, which includes new and used automobiles, mobiles and accessories, books, cameras, watches, gifts, toys and home appliances. One of the oldest photo portals is ZoomIn, which is backed by Kleiner Perkins Caufield Byers and Sherpalo Ventures.

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▦ Linked Companies

Silver Creek Systems
$10M to $25M