Blog Past: TIME Magazine on IndiaWorld

Time magazine featured the IndiaWorld sale as part of a cover story on the Internet in February 2000. Here is an abstract:

The first two years were spent convincing advertisers that an online company had genuine potential. “In a small business, there is no such thing as a small mistake,” he says. “We always knew our first mistake could well be our last one.” With its healthy online traffic, IndiaWorld has evolved into one of the most extensive general sites for information about India, though its profit last year was an imperceptible $5,800. But a buzz had developed, and Jain was courted by “angel” investors, foreign venture capitalists and banks eager to lend. In the end, he went with the Hyderabad-based Satyam Infoway, deciding he had “maximum comfort levels” dealing with an Indian buyer.