DesiMartini – HT drank it all !! But Why???

I was a bit more than “surprised” reading this in mint today -”HT Media acquires Social Networking site DesiMartini.com for close to $10 Million”. Whaaattt?? was my first reaction…then some rubbing of eyes and then read the complete news item again. I can understand as every business is starting to recognize the power of social networks, Big media guyz are also eyeing the chance to have one themselves but in this deal i was not able to digest few things :

1. Why DesiMartini??

2. Why $10 Million for that anyway??

i got to know about DesiMartini.com after meeting vivek pahwa at some conference and believe me after looking at the homepage i dint’ even feel like registering at the first place ( credit goes to its design) and started wondering who all are registering here and why (i am still wondering ;) )…c’mon we already have facebook, orkut and they serve the purpose.

but as the news says desimartini is boasting of a decent user base of 2.5 lakh people with more than 2.5 million page views a month. good if its true but still i dont see these social networks going anywhere without adding any value to the concept. For HT i dont know how good this deal was (hope they know) but big congrats to vivek and his team. !!

Now i can understand why MingleBox.com received a funding of $7 Million or bigadda.com flowing mindless money on boom advertising or MIH funding ibibo.com but all in all as a web 2.0 entrepreneur the whole idea of creating another social network doesn’t excite me at all…ahh…but when i think about creating ‘close-to’ $10 million :) this seems the easiest path..what say Nikhil ;) ??