Tuesday, April 23

Tag: Times Internet

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...
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Gaana Raises $115 Million Funding From Tencent and Times Internet
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...
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Vidooly Raises $1.4 Million From GVFL, Times Internet
10May By Press Trust of IndiaNo Comments
FUNDING

Vidooly Raises $1.4 Million From GVFL, Times Internet

Video intelligence startup Vidooly has raised USD 1.4 million (Rs 8.9 crore) in funding from GVFL and Times Internet. Vidooly will utilise the series A funds towards product engineering, marketing, and enhancing sales and distribution channels, it said in a statement. Previously, the company has raised about USD 1 million. "Video consumption over the last couple of years has exploded given faster and affordable internet access and also the rising demand for devices and high quality online content," Vidooly co-founder Nishant Radia said. The aim is to be a dominant player in this space globally, he added. "We plan to utilise the funds raised to expand in attractive markets such as the US, Europe and Asia and also strengthen the team at Vidooly," he said. Vidooly was also a par...
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Times Internet Looks to Join USD 1 Billion Club in next 5 years
8Jan By Press Trust of IndiaNo Comments
News

Times Internet Looks to Join USD 1 Billion Club in next 5 years

Times Internet, the digital product company owned by media conglomerate BCCL, is looking to be a billion dollar firm in the next five years, riding on the back of greater reach and high growth of internet penetration. As part of the strategy, Times Internet will adopt an "aggressive" approach and pursue organic as well as inorganic growth and try to enhance and monetize its reach. "Times Internet would cross Rs 1,000 crore in terms of net revenue during this fiscal and is aiming to become a billion dollar company (revenues) by 2021," Times Internet CEO Gautam Sinha told Pixr8. "Times Internet has a current compounded annual growth rate (CAGR) of 46 per cent and expects to increase it to 51 per cent, going forward." Times Internet, according to him, has evolved itself as the biggest...
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Gaana, India’s Favorite Music App, Crosses 50 Million Milestone
22Dec By AnkitaNo Comments
News

Gaana, India’s Favorite Music App, Crosses 50 Million Milestone

Gaana, India's favorite music app, announced that it has crossed 50 Million app downloads since it was launched, 4 years back. Gaana is now the biggest music and content streaming service in India and is credited with reinventing the music industry by replacing low quality online music with a monthly subscription service with unlimited downloads and listings of over 10 million songs. Gaana has added various unique and innovative features in the recent past which includes original content programming with top celebrities (likes of Asha Bhonsle, Shankar Mahadevan, Ashish Vidyarthi), India's first Facebook messenger music bot, local music integration, localisation of app in 9 languages, mobile wallet integrations, music recommendation engine and seamless playability even at 2G speed which ...
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Times Internet Eyes Rs 1,000 Cr Net Revenue in FY17
25Oct By AdityaNo Comments
BUSINESS

Times Internet Eyes Rs 1,000 Cr Net Revenue in FY17

Times Internet, the digital products company owned by media conglomerate BCCL, is eyeing a net revenue of over Rs 1,000 crore during the current financial year. "Over the last four years, we've focused on changing from being a media company to a full stack product and technology company. At this time, both our net revenues and audience reach have grown 3-4 times, which makes us feel positive about the effect of our strategy," Times Internet CEO Gautam Sinha said in a statement. The company has crossed 175 million unique monthly visitors and "is on track to cross Rs 1000 crore in net revenue this fiscal year," it said. The firm owned by Bennett Coleman & Co Ltd (BCCL) runs over 35 digital properties including Timesofindia.com, Cricbuzz, Gaana.com, MagicBricks and MensXP, among...
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Acquisitions: CarDekho acquired Times Internet Owned Auto Portal Zigwheels
14Sep By RishabhNo Comments
ACQUISITION

Acquisitions: CarDekho acquired Times Internet Owned Auto Portal Zigwheels

Setup back in 2008, Cardekho was founded by a team of four people as an initiative towards providing a quality information in a quality environment on one of the biggest assets that a person owns in his lifetime. Recently Ratan Tata backed that Cardekho.com is acquiring Times Internet owned auto portal Zigwheels. The details of the purchase are yet not disclosed. Cardekho’s CEO and Co-founder confirmed the news and said that “The acquisition of Zigwheels is a strategic step to enhance our content to be more rich and engaging so that we help car and bike buyers. Zigwheels will work as an independent entity within the organization.” After the acquisition of Goibibo’s Gaadi.com in September 2014 and BuyingIQ, a price comparison portal and shopping engine founded by IIT graduates, in April...
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How ‘Inshorts’ raised $20 million from $4 million – Straight from the founders view
10Jul By AdityaNo Comments
Entrepreneurs Talk

How ‘Inshorts’ raised $20 million from $4 million – Straight from the founders view

Inshort, a mobile app focused towards providing news to its users in 60 words, has raised $20 million from New York- based Tiger Global investors. The company plans to utilise the raised capital to improve user experience and expand its presence. News in shorts video> News in Shorts, Noida-based firm, founded by Azhar Iqubal, Anunay Pandey and Deepit Purakayastha, has been in this business since 2013.  News in shorts started out being a part of Times Internet’s accelerator program called TLabs in 2013. It was then that News in Shorts received its seed funding of Rs 2 crore from angel investors Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingra along with co-founders of Flipkart—Sachin Bansal and Binny Bansal.  News in Shorts, in February 2015, raised Rs 25 crore in its series A roun...
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