Entertainment portal Chakpak.com secures funding from Canaan, Accel Partners

Bangalore-based entertainment portal Chakpak.com has raised an undisclosed amount of funding from venture capital firms Canaan Partners and Accel Partners. Quoting unnamed sources, Economic Times has pegged the investment figure at around $5 million. In January 2008, Chakpak had received seedfund investment from Accel Partners.

Chakpak.com claims to attract five million visitors per month with two million being registered users. The portal relies on user generated content and plans to tap the growing community of online users seeking entertainment related news, information and downloads.

“Chakpak is among a new breed of players that moves away from traditional online entertainment communities. The company is building a critical mass of users before it enters into new revenue generating areas like pay-per-view, movie marketing, movie merchandising and so on,” Alok Mittal, managing director, Canaan Partners, has said.