IndiaTimes Sells 15 Percent Stake To Sequoia & WestBridge For $36 Million

"In a move which will surely send ripples across the Indian online media industry, IndiaTimes, one of the biggest online portals in the country (and owned by Bennett, Coleman, India's largest publishing group), has sold a 15 percent stake to WestBridge Capital Partners, a Bangalore-based venture fund, and Sequoia Capital, the Silicon Valley-based VC heavyweight, for $36 million.
The sale values IndiaTimes.Com at $240m. The site generated revenues of $27m last year, says this story. "

[ContentSutra]