From a series I wrote a year ago:

The current crop of portals (horizontals and verticals) are too few and for the most part, unexciting. They haven’t yet become “utilities” (daily must-visits) in our lives. The content is quite insipid, and there seems to be little innovation happening on the Internet front from the larger players. For the smaller ones, it has become almost impossible to raise any kind of capital from angels or VCs, thus leading to an almost complete stagnation of the Internet base and usage in India. This has been compounded by a fall in ad revenue for many of the companies as the economy has slowed.