SeventyMM featured on GigaOm

GigaOM talks about SeventyMM – “SeventyMM, India’s Netflix”.

The write-up is bullish, with talk of breaking even within the next 18 months in every city they hit. The delivery system is also mentioned, SeventyMM chose to go the private courier/delivery system route simplifying their own operations and controlling lost merchandise en-route. SeventyMM is very keen on going nation-wide although the timing seems rather odd (for example, they will be in Pune 2007).

Seventymm is already up and running in Bangalore and Delhi. And thanks to a $7 million infusion from venture firm Matrix Partners India, announced earlier this week, it will start in Mumbai by the end of this year, in Kolkata and Hyderabad by the first quarter of 2007, and in second-tier cities, of the size of Kanpur and Chandigarh, by the end of 2007.

I should make a slight correction to my earlier post on SeventyMM, SeventyMM does work with depositary participation, and not just a pure service-fee structure. They do require a deposit of Re 999/- that covers the two DVD’s that you can have.