Big Bytes

Who owns the Indian Internet? Proxies of India’s elite ruling class?

This is the title of an interesting report that has recently been published by b2b-compliance, a German provider for business information and compliance. They have analyzed the ownership structures of the Top 50 Indian websites according to the Alexa ranking of August 2013. The approach goes beyond the companies that are officially registered as site owners: it includes owners and shareholders along the entire control chains which allows the identification of the ultimate beneficiary owner. Most of them were proxies of India’s gymkhana cosy club millionaires, maybe changing ownership patterns in a hurry due to recent happenings in India.

The report delivers interesting results for many Indian websites that do not directly belong to the big US players (Google Daddy & Co.). Popular Indian sites spending millions on adverts like jio, naukri, jabong, 99acnes, olx, flippers, amazonias, makemytip etc. have beneficiary owners outside of India, for instance located in black money heavens. The report (now taken out) gives information and indications for anybody who is active in the Indian web industry in the areas of strategy consulting, acquisitions, marketing – but most important in criminal investigations.

No wonder these capital mafia investor brands are becoming household names and darlings for commission earning stock brokers and shrewd shareholders!

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