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| BUSINESS - US INDIAN BUSINESS |
| Stimulus Grant Boosts $320-M Solar Project in Illinois | | By RICHARD SPRINGER | | | indiawest.com | September 02, 2010 02:19:00 PM |
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A partnership in Rockford, Illinois, between an Indian American-founded company and one of the largest enterprises in China has launched one of the largest photovoltaic solar projects currently in the U.S.
The Rockford Solar Project, which has a total estimated cost of $320 million, aims to produce at least 62 megawatts of power through solar energy, create jobs in Illinois and decrease reliance on other forms of energy.
The Commerce and Economic Opportunity Department of Illinois recently | | | | | Read More . | | |
| Facebook Buys Chai Labs, Adds Google Adsense Guru | | By - | | | indiawest.com | September 02, 2010 02:17:00 PM |
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By a Staff Reporter
Facebook has acquired startup Chai Labs, Inc., based in Mountain View, Calif., for $10 million, The Wall Street Journal reported Aug. 15.
Chai Labs was co-founded by chief executive officer Gokul Rajaram, who is known as the “godfather of Adsense,” Google’s successful online advertising program.
According to its Web site, Chai Labs, founded in 2007, has a technology for Web publishers to create “scalable, search-friendly sites.” Its customers include NBC Local, Yahoo | | | | | Read More. | | |
| H-P Tops Dell in Bid for 3PAR, Co-Founded by Singhal | | By RICHARD SPRINGER | | | indiawest.com | August 26, 2010 02:26:00 PM |
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Hewlett-Packard Co. has offered $1.6 billion to acquire Fremont, Calif.-based 3PAR, Inc., a provider of data storage solutions for multi-tenant cloud-computing environments.
The all-cash offer made Aug. 23 came one week after Texas-based Dell, the world’s third largest personal computer manufacturer, struck a deal to pay an estimated $1.15 billion to acquire 3PAR, co-founded by chief technology officer of system architecture Ashok Singhal, who is represented by the “A’ in the company’s name.
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| Envestnet Has Key Indian Americans in Management Team | | By RICHARD SPRINGER | | | indiawest.com | August 26, 2010 02:25:00 PM |
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In December of 2000, Viggy Mokkarala, a co-founder of myMoneyPro.com, told this reporter (I-W, Dec. 12, 2000) that his start-up offered a unique service to top money managers. It provided an efficient platform for accounting and other back-office services.
MyMoneyPro.com (later renamed Oberon Financial Technology) at the end of 2004 merged with Envestnet, a Chicago-based company that provides Web-based services to financial advisors.
Envestnet was in the news July 29 when it had an initial | | | | | Read More. | | |
| India’s MakeMyTrip Soars in Biggest U.S. IPO in 3 Years | | By RICHARD SPRINGER | | | indiawest.com | August 19, 2010 05:22:00 PM |
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MakeMyTrip Ltd., an Indian travel site, Aug. 12 had the largest first-day gain of an initial public offering on a U.S. stock exchange in almost three years, closing up 89 percent to $26.45 a share on the Nasdaq market.
It was the best performance since Athenahealth, Inc., soared 97 percent in September 2007.
MakeMyTrip’s stock, trading under the symbol “MMYT,” opened at $22 a share, up 57 percent from its IPO price of $14. A total of five million shares were sold at the high end of its exp | | | | | Read More. | | |
| Indian American Travel Agents Form New Network | | By LISA TSERING | | | indiawest.com | August 12, 2010 01:57:00 PM |
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FREMONT, Calif. — Travel from the United States to the Indian Subcontinent generates more than $3 billion per year, yet many international airlines treat Indian passengers and travel agents like second class citizens, according to some industry professionals.
A few dozen Indian travel agents have banded together to show a united presence and to leverage their spending power in the industry by forming a new trade group, the Indus Travel Network Association.
At the group’s kickoff event Aug. | | | | | Read More. | | |
| First Woman of Search Engines Quits Yahoo! | | By SUNITA SOHRABJI | | | indiawest.com | August 12, 2010 01:56:00 PM |
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Srinija Srinivasan, Yahoo’s editor-in chief, announced Aug. 3 she is leaving the company she helped found.
Srinivasan, who joined Yahoo in 1995 as its fifth employee — at the behest of founders David Filo and Jerry Yang — was at the time considered one of the most influential executives in the search engine industry. She announced her departure in a Yahoo blog and video.
“When we started, Yahoo was a directory of Web sites. We couldn’t wait to see the amazing things people would do when t | | | | | Read More. | | |
| India Trade Conference Discusses ‘New India Markets’ | | By PARIMAL M. ROHIT | | | indiawest.com | August 05, 2010 02:11:00 PM |
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IRWINDALE, Calif. — About 200 key corporate executives gathered at the Edison Conference Center here July 29 to discuss the future of doing business in India during the 3rd Annual India Trade Conference hosted by the Port of Los Angeles, Southern California Edison, Network of Indian Professionals and Quanta Consulting, Inc.
The all-day conference, “Destination India 2010: Green and Social Entrepreneurship,” which focused on accessing “New India Markets,” addressed several issues facing today’ | | | | | Read More. | | |
| LightSquared to Launch Wireless Broadband Next Year | | By RICHARD SPRINGER | | | indiawest.com | August 05, 2010 02:09:00 PM |
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A company headed by an Indian American chief executive will launch a new wireless broadband network in 2011 that is seen offering serious competition to incumbent phone companies.
Private-equity firm Harbinger Capital Partners announced that LightSquared, led by chief executive officer and chairman Sanjiv Ahuja, hopes to cover 92 percent of the U.S. population with its wireless network by 2015, Associated Press reported.
Besides needing to overcome financial and regulatory obstacles, Light | | | | | Read More. | | |
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