|
PassionFund picks up stake in Tulleeho
Kavita Nair
Mumbai : Mumbai-based PassionFund, the angel fund has invested an undisclosed amount to pick up a minority stake in Tulleeho, a global online community for liquor-lovers. Says Mr Mahesh Murthy, president PassionFund: "Tulleeho was set up with the single intention of creating a worldwide community of people who like to drink." Cheers to that-but the question is: why did PassionFund raise a toast to the dotcom? Tulleeho, explains Mr Murthy, is just as significant to the liquor manufacturer as it is to its community member. Two trends in India, he feels, will drive the adoption of Tulleeho. First is the lifting of quantitative restrictions (QR) on the import of foreign liquors that will make the Indian market more competitive. Second is the restriction against the usage of mass media to promote liquor brands. This, reckons PasssionFund will force marketers to find a more politically-correct means for driving home messages to the liquor-appreciating audience. Tulleeho can then be projected as a principle option for liquor marketers and consumers. This site has also established its offline presence by allying with bars, pubs and restobars in India as well as abroad. Tulleeho's aim, explains Mr Murthy, is to capture a significant per cent of liquor companies marketing spend in India and abroad. It will also examine the potential revenue from e-commerce depending on the government regulations in subsequet stages. According to Mr Vikram Achanta of Tulleeho: "Tulleeho is positioned as a marketing services company for the liquor industry. It brings focus, using both the Internet and a strong on the ground organisation with the liquor industry." Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
|