Recently launched Indian search engine, Byindia.com, which combines blogging, social networking, auctioning and video features, has been acquired by internet technology company, Web2 Corp.
According to Web2 Corp, Byindia, which was tested in September and launched this month, is slated to be as popular as Baidu.com is in China.
William Mobley, Chairman and CEO of Web2 Corp said, "We believe we are in early with a great product. India is a massive market that is gaining economic footing and ByIndia.com is the best product available for this audience. We plan to improve upon it. We see a Baidu-like opportunity to create the definitive community for this vast population."
ByIndia.com claims to bring the most popular aspects of MySpace, eBay, Craigslist, YouTube and Google into a single site with a common interface, free of charge.
Read more here.
I wonder if they have reverse auction sites over there 
URBANEYE