Sequoia To Invest $20 Million In George Zacharias's IT Venture
Thu, 08/09/2007 - 19:10 — Sahad P VOn Tuesday, VC Circle had reported that Sequoia Capital India had most likely invested in former Yahoo India MD George Zacharias' new remote infrastructure management startup. Mint today reports that Sequoia would have committed about $20 million in Zacharias's yet-to-be-named IT company. The capital would be invested over the next 12 months, which includes the funding of an acquisition of a US company too, Mint reports quoting sources.
Sources told VC Circle that C.R. Srinivasan, former head of VSNL - Singapore, might be joining Zacharias in the new IT venture, besides a few ex-colleagues of his from Sify and Yahoo.
How did Sequoia zero in on Zacharias? Sources attribute it to the connection with ex-Sify CEO R Ramaraj, who is currently an adviser to Sequoia. Zacharias was hired as COO of Sify by Ramaraj. Some industry sources suggest that Ramaraj-Zacharias combination could even buy out the data center business of Sify. Only if Raju Vegesna-owned Sify is ready to sell. A two-third of revenues of Sify come from enterprise services like data centre and hosting. The idea, however, is not far-fetched.
Comments
Rahul Swarup,Rustom Irani and (Former 'A'team of Ramaraj) are behind this new venture spearheaded by George Zach.This is for sure a winning team that pioneered the Internet biz in India.Most of them in their early 40's and chasing their entrepreneurial dreams this time will be planning a very focussed,sustainable and a winning business model.
January 08, 2009
zachariah is incredibly over rated and all we know of him comes from him - an utterly self serving arrogant babu babbling constantly