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Blume Ventures and Naveen Tewari-backed MoneySights.com shuts down

MoneySights.com, a consumer internet
start-up in the financial services domain, operated by RupeeStreet Financial
Services, will be shutting down its website effective 8 September 2012. In an
email sent to its subscribers, the company has announced this. In June 2011, MoneySights.com

MoneySights.com, a consumer internet
start-up in the financial services domain, operated by RupeeStreet Financial
Services, will be shutting down its website effective 8 September 2012. In an
email sent to its subscribers, the company has announced this. In June 2011, MoneySights.com
had raised $270K from Blume Ventures and Naveen Tewari, founder of InMobi. The company was founded in 2009 by former InMobi employees, Mukesh Kalra
and Santosh Navlani.

“While we never intended to do this,
circumstances forced us to stop the updates. And over last few months, we
concentrated our efforts to get back on track so that the service could
continue uninterruptedly. Unfortunately, things haven’t gone the way that would
have been good for us & thus, to continue running MoneySights has turned an
economically unviable and practically impossible proposition,” the company said.

The service started in June 2009. “We have
cherished everyday of work that we did over these 3 years & enjoyed all the
ups & downs. Ofcourse, we worked with a desire to be super-successful.
However, we have accepted this undesired outcome & decided to move on. We
feel sorry for this decision of terminating the service but thats our only
option,” the email said.

The email sent to its sunscribers by MoneySight team:

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