Magazine article Marketing

P&G Plans Global Investment for Dotcom Start-Ups

Magazine article Marketing

P&G Plans Global Investment for Dotcom Start-Ups

Article excerpt

Procter & Gamble has launched a global internet venture fund to help it exploit the commercial opportunities offered by the web.

The iFund will operate in a similar way to a venture capitalist and will invest minority stakes in internet start-ups that are of strategic interest to P&G's range of businesses and which will show a suitable return on investment. It is the first time that P&G has set up an operation dedicated solely to external investments.

iFund is headed globally by senior P&G executive Rich Kiley, based at P&G's Cincinnati headquarters. Reporting to him will be Anuraag Shristava, a P&G executive base a Bombay, and P&G's interactive marketing manager iVentures, Rahul Chakkara.

iFund has been set up as division within P&G's iVentures group, which is responsib1e for P&G's internet and interactive strategy.

The project has not been allocated a budget for acquisitions; instead, the iFund team has been given complete flexibility to invest in appropriate ventures. …

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