TiE-ISB Connect 2006 - Internet Track Summary

Kris Seshadrinathan (Track Chair)

Ajit Balakrishnan (Rediff)

Sandeep Murthy (Sherpalo Ventures)

Hitesh Oberoi (naukari.com)

Raghav Kher (70mm.com)

Sameer Sood (Google)

Sanjeev Bikhchandani (Naukri.com)

Sanjay Swamy (mChek )

Ganesh Rangaswamy (Greylock Partners)

Probir Roy (Paymate)

The track for internet and internet services comprised a panel of distinguished speakers and professionals. The moderator for the discussion was Mr. Krishnan Sheshadrinathan. The discussion was kick-started by a speech from Mr. Ajit Balakrishnan from Rediff.com. He provided the audience with valuable insights about the nuances of running a successful internet business, and the features essential for the same. The precision with which he pointed out the problems that most of the internet businesses run into, and the mistakes that they often do, was truly inspiring and motivating. With every passing moment, the audience’s appreciation of his work, knowledge and aura kept growing. He talked at length, about the choices that firms have to make to either be a service provider or be a media company in an internet business. He urged the budding entrepreneurs to focus on three aspects, essential to running a successful internet business, viz. focusing on the long tail, network effects and innovation.

Following him was another eminent speaker, Mr. Sandeep Murthy from Sherpalo Ventures of KPCB. He provided the audience, a perspective of a venture capitalist, looking to invest in interesting and promising internet business models. Keeping it plain, simple and short, Sandeep wooed away the audience by his compelling arguments and amazing clarity, on the issues related to funding businesses. He also spoke little about three of the most recent ventures that his firm had invested in, and went on to invite the panel for discussion.

As Mr Sheshadrinathan threw some interesting questions to the panel, the audience, mainly comprising of budding entrepreneurs, got multi dimensional perspectives of venture capitalists, whom they are here to woo anyways, and of some the people who had once been in their seats, looking for funding to kick start their ventures. While the panel also talked of emerging trends in the Indian market, a word of caution was thrown in by Mr. Ajit Balakrishnan, every now and then, warning the enthusiasts about the consequences of falling into the trap of copying the US or the Chinese business model.

Finally, the house was thrown open to questions from the audience, which most of them were eagerly waiting for. While many of the audience members had generic questions to the speakers, about the emerging trends in the industry and the ways to bootstrap their way out of the financial viscous loop, others had a completely different plan. Not willing to let go of the tremendous opportunity that Tie-ISB offers for these entrepreneurs, to convince the investors about the bright prospects of their business plan, many of the audience members asked specific questions, specifically to the VCs, if they would be willing to invest in their business model.

Finally, Mr. Sheshadrinathan, gave a note of thanks to the entire panel and traditional ISB memento to the speakers. The track was one of the most popular tracks of the Tie-ISB event, and the magnitude and the enthusiasm, of the audience and the panel, was a testimony to the fact that internet revolution is here to stay for long.

Prepared by :

Sukanya Ghosh

Vibhor Singhal

Yashovardhan Gupta