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Category: iWorld

  • Times Internet partners with Crain Communications to launch Ad Age India

    Times Internet partners with Crain Communications to launch Ad Age India

    MUMBAI: Times Internet (TIL), a premiere digital product company and the digital arm of India’s largest media conglomerate, The Times of India Group has inked a partnership with Advertising Age to launch Advertising Age (Ad Age) India. Ad Age is the leading source of news, intelligence and conversation for the global marketing and media community. Ad Age India will combine the authoritative status of this marquee publication with the rapidly growing and evolving Indian media and marketing ecosystem to create a vibrant platform for the industry.  In addition to a comprehensive coverage of the strategic topics, insights, news, trends and ideas across the region; Ad Age India will work with thought leaders across the industry to deliver value to its readers.  

     

    The alliance is a part of the Times Local Partners (TLP), a business unit of TIL that partners with global digital companies across publishing, product and platform to help them launch / grow in India, APAC & ME. Ad Age joins the growing TLP portfolio, which has already rolled out the Indian editions of Askmen, Gizmodo, Lifehacker, Techradar, Remodelista,  ReadWrite,  Business Insider & IGN.

     

    Talking about the partnership,Times Local Partners business head Puneet Singhvi said “We are very excited about bringing Ad Age to India. Ad Age has achieved an iconic status amongst the media and marketing community globally and we look forward creating a strong platform for the fraternity through Ad Age India. We are confident that Ad Age India will soon become a marketing communication brand to trust and the one that the industry follows. We also plan to roll out the regional versions of the highly revered Ad Age Lists soon. ”

     

    “India has emerged as one of the world’ fastest-growing ad markets with a vibrant and innovative community of advertising, media, and marketing leaders,” said Allison Arden, Vice President and Publisher of Ad Age. “Ad Age is thrilled to join with Times Internet in bringing our distinctive global news, intelligence, and insight to Indian readers.” 

     

    TLP will be putting together a strong editorial and insights team to publish local industry news, trends & analysis alongside the global coverage of strategic topics for marketers and media. TLP will also leverage the media reach that the Times Group has across platforms to grow Ad Age India strongly. 

  • Twitter Amplify launches in India

    Twitter Amplify launches in India

    MUMBAI: It’s time for making money from Twitter. Starsports.com and Vodafone India have tied up with Twitter for its Twitter Amplify programme in India for the first time. Through the programme, the broadcaster and the brand will be tapping into growing social conversations around TV programmes especially live sports.

     

    Twitter Amplify allows broadcasters to publish their best content directly to Twitter and then monetise it with advertisers through sponsorship packages. Assisted by ‘promoted tweets’, it will amplify the reach of the video content distributed through companies’ Twitter accounts.

     

    Through the programme, starsports.com looks to enhance viewer experience across the web and mobile by offering high quality clips of sporting action directly to consumers engaged in conversations on Twitter around live matches. It says, “This is likely to lead to greater engagement around live sports in social media as well as create an opportunity for fans to consume the action without leaving the conversation.”

     

    Advertisers will be able to tap into social conversations on Twitter along with a multi screen audience engagement strategy to consume content wherever or whenever they want.

     

    “2014 is a great year for Twitter becoming the social soundtrack for television as 95 per cent of the public social conversation around TV is happening on Twitter today, especially for live sporting events. Broadcasters and brands know that Twitter is a natural TV companion that drives audience tune-in, engagement and affinity,” said Twitter India market director Rishi Jaitly.  “We look forward to working with cutting-edge broadcasters and advertisers, like Star Sports and Vodafone, who want to tap into a compelling second screen experience We are delighted that cricket fans can now enjoy TV highlights in real-time on Twitter,” he added.

     

    Star India head of digital business Ajit Mohan said, “We have built starsports.com as the most compelling destination for fans in India to follow sports on a mobile screen and the best platform for advertisers to reach an attractive audience on digital. This program is a new innovation for us to understand the possibilities of being present when the conversations are happening on Twitter.”

     

    Vodafone India chief commercial officer Vivek Mathur said, “As a brand we are always looking at innovative ways of driving brand engagement and conversations on social media. Cricket (and sports in general) is one of our identified passion points and one with which Vodafone has a huge association. We are very excited to be the pioneers in launching a new social innovation in India centered around Twitter and cricket.”

     

    Through this partnership, Twitter users will receive timely updates about their TV experience and remind them to tune in to the live cricket action and key sporting moments.

  • Amazon to invest additional $2 billion in India

    Amazon to invest additional $2 billion in India

    MUMBAI: Amazon is looking at India as a potential market. The e-commerce platform which launched its maiden TVC to woo Indian consumers during this edition of Indian Premier League, has now decided to invest an additional $2 billion to support its rapid growth and to enhance customer and seller experience in India.

     

    According to Amazon, since its launch just over a year ago, its marketplace (www.amazon.in) has grown to be India’s largest store with over 17 million products from a continually growing base of thousands of small and medium-sized businesses, serving millions of customers across India and delighting customers with its guaranteed next-day delivery service. 

     

    “After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations,” said Amazon founder and CEO Jeff Bezos. 

     

    He added, “We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of US $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales. A big ‘thank you’ to our customers in India – we’ve never seen anything like this.”

     

    On 29 July, Flipkart had announced that it was raising $1 billion which will be used to make long-term strategic investments in India, especially in mobile technology.

  • We remain focused on driving increased user growth: Dick Costolo

    We remain focused on driving increased user growth: Dick Costolo

    MUMBAI: Micro blogging site, Twitter has had an interesting second quarter. The company has announced its financial results for the second quarter ended 30 June 2014.

    In a company statement Twitter CEO Dick Costolo said, “Our strong financial and operating results for the second quarter show the continued momentum of our business.”

    “We remain focused on driving increased user growth and engagement, and by developing new product experiences, like the one we built around the World Cup, we believe we can extend Twitter’s appeal to an even broader audience,” he added.

    It can be noted that Twitter’s Q2 revenue was $312 million, up 124 per cent year-over-year. The company reported Q2 net loss of $145 million and non-GAAP net income of $15 million, Q2 GAAP EPS of ($0.24) and non-GAAP EPS of $0.02 and Q2 adjusted EBITDA of $54 million, representing an adjusted EBITDA margin of 17 per cent.

    According to a report by AP, San Francisco-based Twitter’s stock jumped 30 per cent to $50.01 in extended trading Tuesday.

    It can be noted that Twitter introduced new product experiences that were built around the World Cup, including real-time scoring, push notifications, event and match timelines, and a voting ballot feature. In addition, Twitter also launched new web profiles and the ability to send private messages within Vine.

    Twitter also launched a number of new advertiser tools including mobile app promotions, which allow mobile app developers to drive installs and engagements on Twitter, and website cards, which allow advertisers to easily surface website content within a Tweet and drive relevant traffic to any page of their site such as their home page, product page, or an important blog post.

    Twitter continued the international expansion of its advertising products, expanding state/region geo-targeting to help marketers meet local advertising objectives in additional countries including the UK, France, and Indonesia, among others, and launching its self service ad platform for small and medium sized businesses in Spain, Israel and South Africa.

    Twitter closed the acquisition of Gnip, a leading provider of social data, and entered into agreements to acquire several other companies including TapCommerce, a leader in mobile retargeting and re-engagement advertising, and SnappyTV, a platform for video editing and distribution.

    Second Quarter 2014 Financial Highlights

    Revenue: Revenue for the second quarter of 2014 totalled $312 million, an increase of 124 per cent compared to $139 million in the same period last year.

    • Advertising revenue totalled $277 million, an increase of 129 per cent year-over-year.

    • Mobile advertising revenue was 81 per cent of total advertising revenue.

    • Data licensing and other revenue totalled $35 million, an increase of 90per cent year-over-year.

    • International revenue totalled $102 million, an increase of 168 per cent year-over-year.

    • International revenue was 33 per cent of total revenue

    Net loss: GAAP net loss was $145 million for the second quarter of 2014 compared to a net loss of $42 million in the same period last year. Twitter’s GAAP net loss included $158 million of stock-based compensation expense.

    Adjusted EBITDA: Adjusted EBITDA was $54 million for the second quarter of 2014, an increase of 461 per cent compared to $10 million in the same period last year.

    Non-GAAP net income / loss: Non-GAAP net income was $15 million for the second quarter of 2014 compared to a Non-GAAP net loss of $16 million in the same period last year.

    EPS: Basic and diluted GAAP EPS was ($0.24) for the second quarter of 2014 compared to ($0.32) in the same period last year.

    Non-GAAP EPS: Non-GAAP EPS was $0.02 for the second quarter of 2014 compared to ($0.12) in the year ago period.

    Capital expenditures: Purchases of property and equipment for the second quarter of 2014 were $44 million. Additionally, $31 million of equipment was financed through capital leases during the second quarter of 2014.

    Cash, cash equivalents and marketable securities: As of 30 June 2014, cash, cash equivalents and marketable securities were approximately $2.1 billion, compared to $2.2 billion as of 31 March 2014.

    Way ahead!

    Twitter’s outlook for the third quarter of 2014 is as follows:

    Twitter’s outlook for the third quarter of 2014 is as follows:

    • Revenue is projected to be in the range of $330 million to $340 million.

    • Adjusted EBITDA is projected to be in the range of $40 million to $45 million.

    • Stock-based compensation expense is projected to be in the range of $180 million to $190 million excluding the impact of equity awards that may be granted in connection with potential future acquisitions.

    Twitter’s revised outlook for the full year of 2014 is as follows:

    • Revenue is projected to be in the range of $1,310 million to $1,330 million.

    • Adjusted EBITDA is projected to be in the range of $210 million to $230 million.

    • Capital expenditures are projected to be in the range of $330 million to $390 million.

    • Stock-based compensation expense is projected to be in the range of $640 million to $690 million excluding the impact of equity awards that may be granted in connection with potential future acquisitions.

    Click here to read the financial report

  • Flipkart raises $1 billion; to focus on mobile technology

    Flipkart raises $1 billion; to focus on mobile technology

    MUMBAI: Flipkart has raised $1 billion in one of the largest funding rounds for any e-commerce company, globally.

     

    The round led by existing investors, Tiger Global Management and Naspers, saw Singapore’s sovereign wealth fund, GIC, as the new investor along with existing investors Accel Partners, DST Global, ICONIQ Capital, Morgan Stanley Investment Management and Sofina also participating in the latest financing round.

     

    The funds will be used to make long-term strategic investments in India, especially in mobile technology.

     

    “We believe internet will improve the quality of life for millions of Indians, and e- commerce is going to play a huge role in this change. The focus at Flipkart is to continue to make shopping online simpler and more accessible through the use of technology,” said founders Sachin Bansal and Binny Bansal.

     

    They added, “We have close to 22 million registered users today. We handle five million shipments a month. These numbers were unheard of a few years back and we are excited about the scale we have managed to achieve. But what is even more exciting is the huge opportunity that we still see before us.”

     

    India has 243 million internet users – and this number continues to grow very fast. By 2020, India will have more than half a billion mobile internet users. The platform will now focus on mobile and technology to take advantage of the massive opportunity.

     

    The new funding will enable it to step up its investments for innovations in products and technologies, setting it up to become the mobile e-commerce company of the future. It will help the e-retailer further accelerate momentum and build its presence to become a technology powerhouse.

     

    Over the past few years, Flipkart has led the supply-chain innovation in India. It has focused on making the online shopping experience as seamless as possible: being the first to launch 30 day replacement policy and the first player to run 24×7 customer support at scale in India, In-a-Day guarantee in 50 cities and the subscription service ‘Flipkart First’.

     

    Flipkart, which recently acquired Myntra, plans to continue investing in training sellers for the marketplace, providing all small  and  medium  entrepreneurs,  manufacturers  and  artisans  a  national  platform  to connect with millions of customers.

  • Cable companies need to provide compelling video experience along with broadband: Moody’s

    Cable companies need to provide compelling video experience along with broadband: Moody’s

    MUMBAI: A new report by Moody’s Investors Service claims that value propositions for cable providers are changing as broadband becomes even more necessary than TV. The report titled ‘Couch potatoes are switching screens as high-speed data cable subscribers overtake video’ states that most companies in the US are well positioned to reap the benefits and manage the risks of transition.

     

    “Cable providers’ largely upgraded networks and high-speed capabilities can make them the first call for consumers seeking fast internet connection. But if cable companies want to sell their video product as well, the onus is on them to provide a compelling video experience at an attractive price,” says Moody’s Investors Service vice president senior analyst Karen Berckmann.

     

    High speed data subscriber numbers will overtake video subscribers for Moody’s- rated cable companies in the next year, she adds. Fewer video customers means lower programming costs that are paid on a per subscriber basis and servicing the video product tends to be the most challenging and costly part of the business, so margins could benefit from the mix shift.

     

    However, the report also warns that a magnifying customer base for video also has risks. Companies that have declining number of video subscribers lose economies of scale when it comes to technicians and customer service, driving up costs per customer. At the same time the brand may be affected if it gives up on video in favour of broadband.

     

    The report states, “Companies with significant overlap with Verizon’s FiOS and AT&T’s uVerse, such as Cablevision Systems and Time Warner Cable, will need to invest in a competitive video product to survive while those with a less intense competitive footprint will find it easier to thrive as primarily broadband companies. An operator that loses a customer to FiOS or uVerse is likely to lose that customer entirely, whereas one losing a customer to Dish Network or DirecTV could still maintain a broadband relationship.”

     

    Moody’s says that Comcast is one company that is both large as well as diverse enough to invest in video as well as showing that it can sustain its video position. Cox Communications and Cablevision could struggle to grow while Grande Communications Networks and RCN Telecommunciations Services have shown that cable ops can build sustainable business on video penetration of about 20 per cent. For smaller operators, partnering with Tivo would be ideal for the next couple of years.

  • MyGov.in to increase government-citizen interaction

    MyGov.in to increase government-citizen interaction

    NEW DELHI: A new portal, MyGov.in, a platform for the people, especially the youth, to connect with the government actively, has been launched by the central government.

     

    Department of Electronics and Information Technology secretary RS Sharma said that the portal, managed by the National Informatics Centre, empowers people to contribute towards good governance through various tasks and discussions. 

    Citizens can upload documents, case studies, pictures, videos, other work plans etc. on the platform. They can volunteer for various tasks and submit their entries. These tasks would then be reviewed by other members and experts. Once approved, these tasks can be shared by other members on MyGov. Every approved task would earn credit points for completing the task. Thus, MyGov presents an opportunity to the citizens to participate in multiple theme-based discussions and to share their thoughts and ideas with a wide range of people.  

    The platform has been divided into various groups namely Clean Ganga, Girl Child Education, Clean India, Skilled India, Digital India, Job Creation etc. Each group consists of online and on-ground tasks that can be taken up the contributors. The objective of each group is to bring about a qualitative change in that sphere through people’s participation. 

    Sharma said the platforms ‘Discuss’ and ‘Do’ will take feedback from the community and improve on a continuous basis. He said his department has plan to have a mobile app for mygov.in, for people to contribute while on the move and enable them to send theme-related pictures, report in-context problems and issues etc.

     

    The platform may even be extended to act like public audit platform for government projects. For example, citizens giving feedback on status of completed infrastructure projects, on availability of various social sector programmes etc.

  • ACT reveals new brand identity, claims largest non-telecom ISP in India with 5 lakh subscribers

    ACT reveals new brand identity, claims largest non-telecom ISP in India with 5 lakh subscribers

    BENGALURU: ACT (Atria Convergent Technologies) Broadband claims that it is now the largest non-telecom ISP and the fourth largest ISP in the wired broadband category in India with its subscriber base of five lakh that it crossed last month.  Only public sector telecom companies BSNL and MTNL and the private sector communications giant Airtel are ahead of ACT, the company claims.

     

    ACT is a triple play service provider which claims a subscriber base of 10 lakh of Fibernet (Internet over fiber optics), digital TV and IPTV consumers. The company is headquartered in Bengaluru and its services are spread over towns and cities of Karnataka, Andhra Pradesh and Tamil Nadu.

     

    The company also announced a strategic move in the industry – the launch of its new broadband brand ACT Fibernet.  ACT says that its new brand underscores its continued commitment to offer fastest, most consistent and unparalleled internet experience through the scalable technology of fiber optics. The company announced the fastest speed currently provided by any service provider to the retail segment of 60 mbps.

     

    What is remarkable about ACT’s achievement is that, while the top three players and most of the other ISPs in the country have a pan-India presence, ACT has  achieved its milestones in Karnataka and Andhra Pradesh, with Chennai coming under its footprint only last year.

     

    “Over the next two years, we are confident of doubling the broadband subscriber base to 10 lakh,” said ACT managing director Sunder Raju.

     

    “We have been setting benchmarks in the industry since we began six years ago – when the industry in India considered 256 kpbs as broadband, our benchmark was 512 mbps, our new bench mark is going to be 5 mbps to the industry’s 1 mbps,” says ACT Group CEO Bala Malladi. “Right from the beginning, we have been laying fiber optic wires up to the last mile and hence scaling up to 1 gbps with small changes to the existing infrastructure should not be a problem for us in the future,” added Malladi.

     

    “There is ample scope for us to double our subscriber base within our current catchment area, but we will definitely look at bringing other towns and cities under our footprint,” said Malladi.

     

    The company has announced a high decibel marketing campaign with the tagline ‘Incredibly fast’ across print, outdoor, digital, newspaper inserts, handbills, bus shelters, metro pillars, kites, parking boards etc., over the next three months within their catchment areas. Minimum spend is on Television advertising. Company sources revealed that the campaign costs would be in the range of Rs 10 crore. RK Swamy BBDO is the creative agency and RK Swamy Hansa group handles the media buying duties and Madison PR handles public relations.

     

    The company has received funding from India Value Fund Advisers (IVFA) which would be used for doubling the subscriber base, an industry source reveals to www.indiantelevision.com that ACT had invested around Rs 600 crore in the current phase, of which IVFA funding was between Rs 350 crore to Rs 400 crore.  Last year, the company had raised privately placed non-convertible debenture (NCD) funding of Rs 180 crore.

     

    “ACT would need funding to the extent of around Rs 500 crore for further expansion. This should not be a problem, considering the fact that ACT has crossed Rs 500 crore in revenue a couple of years ago and has seen operating profits in recent years as compared to many other companies that have been bleeding. The company should be reporting profits in the next two or three years,” says an industry source who works for an MSO and who did not want to be named.

     

    Keeping its current consumers in mind, the brand has upgraded its entire subscriber base in Bengaluru to new fast plans at no extra cost starting 24 July. An ACT broadband consumer confirmed that his fair usage policy has been upgraded to 50 GB from the 40 GB that he enjoyed earlier.

  • Two more Union Ministries join Twitter

    Two more Union Ministries join Twitter

    MUMBAI:  Following up on the push by Prime Minister Narendra Modi, asking all his ministers to join twitter, two more union ministries debuted on the platform today.  The Ministry of Textiles and the Ministry of Health and Family Welfare will be tweeting from their handles; @MoHFW_INDIA  and @TexMinIndia

     

    Twitter has emerged as the platform of choice for the NDA government to communicate with the citizens of India with the PM leading the charge with his personal handle (@narendramodi), complimented by his office’s official handle (@PMOIndia), to share updates.

     

    The Prime Minister’s cabinet is flocking to twitter, with nearly 40 ministers and ministries already sharing daily updates with their followers about the goings on in their respective ministries.

    Earlier the Ministry of Railways (@RailMinIndia) and the Home Minister’s Office (@HMOIndia) had joined twitter, with the Railway Ministry even live tweeting the rail budget on their debut.

  • We had a good second quarter: Mark Zuckerberg

    We had a good second quarter: Mark Zuckerberg

    MUMBAI: Social networking site, Facebook has had a good second quarter. The company declared its financial results for the quarter ended 30 June 2014 on 23 July. Its founder and CEO Mark Zuckerberg said, “We had a good second quarter. Our community has continued to grow, and we see a lot of opportunity ahead as we connect the rest of the world.”

     

    Operational highlights

     

     

    • Daily active users (DAUs) were 829 million on average for June 2014, an increase of 19 per cent year-over-year

     

    • Mobile DAUs were 654 million on average for June 2014, an increase of 39 per cent year-over-year

     

    • Monthly active users (MAUs) were 1.32 billion as of 30 June 2014, an increase of 14 per cent year-over-year

     

    • Mobile MAUs were 1.07 billion as of 30 June 2014, an increase of 31 per cent year-over-year

     

    Financial Highlights

     

    Revenue: Revenue for the second quarter of 2014 totaled $2.91 billion, an increase of 61 per cent, compared with $1.81 billion in the second quarter of 2013. Excluding the impact of year-over-year changes in foreign exchange rates, revenue would have increased by 59 per cent. Revenue from advertising was $2.68 billion, a 67 per cent increase from the same quarter last year. Excluding the impact of year-over-year changes in foreign exchange rates, revenue from advertising would have increased by 65 per cent. Mobile advertising revenue represented approximately 62 per cent of advertising revenue for the second quarter of 2014, up from approximately 41 per cent of advertising revenue in the second quarter of 2013. Payments and other fees revenue was $234 million, a 9 per cent increase from the same quarter last year.

     

    Costs and expenses: GAAP costs and expenses for the second quarter of 2014 were $1.52 billion, an increase of 22 per cent from the second quarter of 2013. Excluding share-based compensation and related payroll tax expenses, non-GAAP costs and expenses were $1.2 billion in the second quarter of 2014, up 18 per cent compared to $1.02 billion for the second quarter of 2013.

     

    Income from operations: For the second quarter of 2014, GAAP income from operations was $1.39 billion, up 147 per cent compared to $562 million in the second quarter of 2013. Excluding share-based compensation and related payroll tax expenses, non-GAAP income from operations for the second quarter of 2014 was $1.71 billion, up 116 per cent compared to $794 million for the second quarter of 2013.

     

    Operating margin: GAAP operating margin was 48 per cent for the second quarter of 2014, compared to 31 per cent in the second quarter of 2013. Excluding share-based compensation and related payroll tax expenses, non-GAAP operating margin was 59 per cent for the second quarter of 2014, compared to 44 per cent for the second quarter of 2013.

     

    Provision for income taxes: GAAP income tax expense for the second quarter of 2014 was $595 million, representing a 43 per cent effective tax rate. Excluding share-based compensation and related payroll tax expenses, the non-GAAP effective tax rate would have been approximately 36 per cent.

     

    Net income and EPS: For the second quarter of 2014, GAAP net income was $791 million, up 138 per cent compared to $333 million for the second quarter of 2013. Excluding share-based compensation and related payroll tax expenses and income tax adjustments, non-GAAP net income for the second quarter of 2014 was $1.09 billion, up 124 per cent compared to $488 million for the second quarter of 2013.

     

    GAAP diluted EPS was $0.30 in the second quarter of 2014, up 131% compared to $0.13 in the second quarter of 2013. Excluding share-based compensation and related payroll tax expenses and income tax adjustments, non-GAAP diluted EPS for the second quarter of 2014 was $0.42, up 121 per cent compared to $0.19 in the second quarter of 2013.

     

    Capital expenditures: Capital expenditures for the second quarter of 2014 were $469 million.

     

    Cash and marketable securities: Cash and marketable securities were $13.96 billion at the end of the second quarter of 2014.

     

    Free cash flow: Free cash flow for the second quarter of 2014 was $872 million.

     

    Click here to read the financial report