Times Group | Pixr8 News

23Mar By NitishNo Comments

FUNDING

Doubtbox Raises Investment From Times Group Owned Brand Capital

Kochi, Kerala, India: The strategic investment arm of the Times Group Media House, Brand Capital, has done an Investment of undisclosed amount in a Kerala based Educational Technology startup company, Doubtbox. Doubtbox is a learning platform that will make the child learn effortlessly and easily.Doubtbox is founded by the promoters of eTutor, a path-breaking digital content repository, which is used by more than half a million school students for the last one decade. According to Ranjith Balan, the Founder and CEO of Doubtbox, the freshly raised funds will be used for branding in order to compete with other players especially Byju’s and Toppr Learning. Post this funding, the valuation of Doubtbox is expected to be between INR 50 Crores and 60 Crores. The online education se...

Times Internet buys South Korean based MX Player for $144 Mn

28Jun By Lavina TolaniNo Comments

ACQUISITION

Times Internet buys South Korean based MX Player for $144 Mn

In an attempt to remark its entry in Indian OTT Segment, Times Internet has acquired South Korea based world's largest local video platform, MX Player in a deal worth 1000 Cr ( $144 Mn). With new acquisition onboard, Times Internet is planning to build a digital-first video streaming platform taking on the likes of Netflix and Amazon in India. Notably, the deal marks second big bet for Times Internet in the OTT Segment as earlier in 2016, company had launched its OTT app Box TV. However, the high cost of content had led the service to shut down. MX Player, developed by J2 Interactive, a South Korean based app will continue to work independently with teams across India and China. The platform currently has 350 million users in India, of whom 175 million use it every month, exceedin...

8May By Sheldan RungasamyNo Comments

FUNDING

Times Group Raises Debt Funding of $75 Million

Bennett Coleman and Company Limited, the media group that owns The Times Group recently raised a funds worth INR 500 Cr ($ 75M) in a non-convertible debenture-funding round with the participation of a string of investors. According to Investopedia, "Nonconvertible debentures are unsecured bonds that cannot be converted to company equity or stock. Nonconvertible debentures usually have higher interest rates than convertible debentures." The media group issued unsecured, unlisted, rated, redeemable, non-convertible debentures for a period of 3 years with a coupon rate of 7.48% per year and paid annually. The lenders participating in this debt funding round are ICICI Lombard General Insurance with Rs 200 Cr, DSP Blackrock Short Term Fund with Rs 160 Cr, Aditya Birla Sun Life Insuranc...

28Feb By Sheldan RungasamyNo Comments

FUNDING

Gaana Raises $115 Million Funding From Tencent and Times Internet

Tencent Holdings, China’s internet mastodon is again making sensation in the Indian market with another colossal investment. Indeed, after investing an eye-dropping $1.1 billion in cab-hailing firm Ola, back in October last year, Tencent Holdings are spilling the cash for yet another Indian firm. Gaana, a music streaming app is raising $115 million funding from the Chinese Internet investment company. Times Internet was also participated in this round. A branch of the Times Group, Gaana.com, wishes to utilize the funding to invest in artificial intelligence (AI). The investment in this new technology aims at personalizing customers’ musical experience. The artificial intelligence will also upgrade the service of subscription for paying users. Gaana also aims at developing the music e...

ScoopWhoop In Trouble- How India’s Viral Content Company Lost Its Track

20Jan By RishabhNo Comments

Story

ScoopWhoop In Trouble- How India’s Viral Content Company Lost Its Track

Disclaimer: The facts and incidents mentioned in the story have been already published by other media companies. We are just distributing the content supplied by third parties or subscribers. . Neither the Company nor any third-party provider of information guarantees the accuracy, completeness, or usefulness of any content, nor its merchantability or fitness for any particular purpose. We don't intend to provide any opinion on the matter. The Launch It was just another evening in a Mayur Vihar's small apartment of Rishi Pratim Mukherjee. He was hanging out with two co-workers, Sriparna Tikekar and Sattvik Mishra from WebChutney, an Indian webdesign and online marketing company. A little drunk and a discussion over "listicles" the term coined because of the popular US-based internet co...

Times Group Acquires Small Stake in Flipkart For 260 Crore

18Feb By NitishNo Comments

ACQUISITION

Times Group Acquires Small Stake in Flipkart For 260 Crore

Bennett, Coleman and Co. Ltd (BCCL) also known as Times Group acquires a small stake in India’s leading e-commerce firm Flipkart. As per the Times of India acquisition strategy, Flipkart’s stake dilution to BCCL is for cash and advertising space in the latter’s media properties. The story was first reported by Mint. Times group made a private investment about Rs 260 crore to buy a warrant for Class B equity shares in Flipkart as per the sourcing documents filed with the Registrar of Companies and from Tofler, a company research platform. The nature of the Flipkart-BCCL transaction is commonly known as a private treaty deal. Rs 26 crore hard cash will be paid instantly to Flipkart, the rest of the amount will be paid when it converts the warrant into equity shares of Flipkart. BCCL...

Koovs Gets 92 Crores Investment from TOI Group, Others

17Nov By AdityaNo Comments

FUNDING

Koovs Gets 92 Crores Investment from TOI Group, Others

UK-based online fashion player Koovs plc has raised 10.9 million pounds (about Rs 92 crore) from existing and new shareholders, including 3.9 million pounds from the Times of India Group. "Koovs plc is pleased to confirm a strategic investment in the company of 3.9 million pounds from the Times of India Group and a further 7 million pounds investment by new and existing shareholders, through the issue of 21,700,000 new ordinary shares at 50 pence per ordinary share," the online firm said in a statement today. The capital raise is part of the final tranche of the company's three-year investment programme to raise approximately 35 million pounds that was announced in September 2015. This brings the total amount raised under this programme to 31 million pounds to date. "The company a...

19Aug By PriyankaNo Comments

FUNDING

Salebhai.com Secures INR 10 Cr Funding From Brand Capital

Salebhai.com, an e-commerce platform for regional goods from across India that is representative of a culture, has received a major boost from Brand Capital of Times Group. The media conglomerate has come on board with a deal size of Rs 10 crore for a minority stake in the company. The online portal, which operates on a back-to-roots philosophy, currently meets requirements of 17 diaspora communities by sourcing authentic and unique products from their native places. It offers sweets, namkeen, chocolates, bakery, spices, dry fruits, beverages, pickles, handicrafts, paintings, puja items, and herbal products from over 100 cities and 250 sellers. Brand Capital has decided to back this portal considering the huge opportunity in solving a longstanding problem through an integrated platfo...

Times Group Will Invest 500 Crores in Flipkart

4Jun By AnkitaNo Comments

News

Times Group Will Invest 500 Crores in Flipkart

Bennett, Coleman and Co. Ltd (BCCL) also known as Times Group would like to invest in Flipkart Ltd, India’s largest e-commerce firm. The amount is about Rs.500 crore for small equity. The deal is partly by cash and ads, as per mint report said. As per the report, Flipkart will issue shares to BCCL in return for cash and ads of its media properties such as The Times of India, The Economic Times newspapers and ET Now and Times Now channels for several years. Flipkart and Times Group has not confirmed yet. Theoretically, at Flipkart’s presumed $15 billion valuation, aRs.500 crore deal would translate into a 0.5% stake. If the Flipkart deal goes through, it will boost BCCL’s already strong connections with India’s booming start-up business. BCCL struck a similar deal with online...