ITV

Tag: poweryourtrade.com

  • R Jagannathan quits DNA to join Web18

    R Jagannathan quits DNA to join Web18

    MUMBAI: Former executive editor of DNA, R. Jagannathan will be joining Network 18‘s internet and digital arm Web 18 as editor, business and financial media.

    At Web 18, Jagannathan‘s mandate will be to provide editorial direction and manage content strategy for existing financial brands in the Web18 portfolio as well as spearhead new initiatives on the content side which the network will announce soon.

    With over 34 years of experience, Jagannathan is a veteran in business media and has served as editor or executive editor of Business World, Business Today, The Financial Express, Business Standard and Indian Management, having launched or re-launched some of these publications.  
         
      Said Web18 CEO Lakshmi Narasimhan, “We‘ve been pioneers in the financial space online and we hope to set new paradigms as we go forward. Jagannathan is one of the finest minds in business media and we believe that his expertise and leadership will be instrumental in giving shape to the new plans in the digital space and to take our financial portfolio to the next level of growth. “

    Added Jagannathan, “Web18 has been a benchmark player in business & financial media space with Moneycontrol.com and it is now at a very exciting stage in its journey, I look forward to being part of it at such a momentous time. I hope to work closely with the team to unlock the editorial potential of our brands.”
    Web18, one of the country‘s largest web publishing networks, operates market leading financial portals and services including Moneycontrol.com and Poweryourtrade.com.

  • TV18 to hive off its internet biz; Q4 net up 112% at Rs 219 million

    TV18 to hive off its internet biz; Q4 net up 112% at Rs 219 million

    MUMBAI: Television Eighteen has decided to hive off its internet ventures and consolidate it into a new wholly owned subsidiary to bring sharper focus and growth momentum to these operations.

    The internet subsidiary plans to raise capital from financial or strategic investors. TV18 board, which met today, has authorised the subsidiary of any such exercises to raise capital.

    TV18 has been acquiring internet properties to create a bouquet. The company recently acquired a 50 per cent stake in the Indian arm of Jobstreet.com. Eariler in the year, it had invested in Yatra Online where other investors included Anil Ambani’s Reliance Capital and Norwest Venture Partners (NVP) – Promod Haque’s leading venture capital firm.

    The company also manages online platforms which include moneycontrol.com, commoditiescontrol.com, poweryourtrade.com and ibnlive.com.

    The board of TV18 also announced the results. The company’s consolidated net profit is up 112 per cent to Rs 219.15 million for the quarter ended 31 March 2006 as against Rs 103.36 million a year ago.

    The company’s revenues rose 66 per cent to Rs 535.10 million in the last quarter of the fiscal with news operations contributing Rs 474.75 million (up from Rs 310.96 million). The earnings from the internet and software operations were at Rs 60.35 million, up six times from a year ago period.

    The revenues from Awaaz and CNN-IBN channels are not reflected in the Q4 result. The company’s operating profit stands at Rs 306.59 million while operating margins are at 57 per cent.

    The group is all set to re-launch Channel 7 in new avatar in June. The group has recently, acquired a 50 per cent interest in Indian arm of Jobstreet.com.

    Commenting on the result Television Eighteen promoter Raghav Bahl said, “We are delighted to report a record quarter for the company – in terms of revenue performance and the spectacular success of CNN-IBN – which in just five months of launch has become the dominant player in the English General News category, firmly establishing the TV18 Group as India’s Premier News Network. We believe our new initiatives in the internet and home shopping spaces too will contribute significantly to our future growth.”

    TV18 opened at Rs 609.85 and closed the trading day at Rs 627.60, after touching a high of Rs 646 and a low od Rs 625.

  • TV18 to launch home shopping network, receives funding from SAIF

    TV18 to launch home shopping network, receives funding from SAIF

    MUMBAI: Television Eighteen is entering the home shopping network (HSN) space which is already occupied by Subhash Chandra’s Asian Sky Shop and Hinduja’s Shop 24×7.

    The company has secured initial funding from SB Asia Infrastructure Fund (SAIF) Partners to launch an integrated HSN. Though TV18 CEO Haresh Chawla refused to divulge the amount, market sources put the investment of the Asian private equity fund at around Rs 30-40 million.

    TV18 will be putting up a national “virtual platform” network which “will bring forth products and services that have been evaluated by a team of experts.” According to a company statement, the shopping network “will leverage the TV18 network of five channels (CNBC-TV18, CNN-IBN, Awaaz, Channel 7 and SAW) and six internet properties (moneycontrol.com, ibnlive.com, poweryourtrade.com, commoditiescontrol.com, yatra.in and Jobstreet India). Collectively, the HSN will have a pool of more than 70 million adults to tap into – people who are very loyal to the TV18 brands and are decision makers with the ability to spend.”

    The organised shopping market is is estimated to become a $30-35 billion opportunity by 2010. “With a changing socio-economic environment, higher disposable incomes, willingness to spend and availability of cheap credit, the share of organised shopping is all set to increase in the consumer’s wallet. Studies estimate that the spending population is expected to increase from 280 million in 2002 to 686 million in 2010. Nearly 75 million sq.ft. of mall space is estimated to become available in India by 2007,” TV18 said.

    However, the ‘spender’ or ‘spending population’ is not easily accessible at a single point. Poor infrastructure, absence of quality locations and complex taxation issues confront sellers, TV18 said. Additional complications arise on account of the mind-boggling availability of choice. With hundreds of brands hitting the shelves every day, making the right choice takes up a significant amount of time of the spender in the transaction process, thus delaying buying decisions.

    “TV18 believes that the time is ripe for a shopping enabler that integrates our media offering with a fulfillment capability. With an existing franchise of over 70 million adults that TV18s media properties reach out too, and the potential universe of affluent middle class Indian’s, it is only a matter of time before TV18 attains a dominant position in this space,” said Chawla.

    “For the first time, by simply picking up the phone, clicking online, calling on their mobile, or simply ‘sms’ing their requests, people will be able to access and buy products and services that exactly meet their requirements. Our ability to build value and give value back to our viewers is what will differentiate us from the rest”.

  • TV18 to pick up 50 per cent stake in JobStreet.com India

    TV18 to pick up 50 per cent stake in JobStreet.com India

    MUMBAI: Raghav Bhal promoted Television Eighteen Group is picking up a 50 per cent stake in JobStreet.com India Pvt Ltd, the Indian arm of the Malaysia based listed online recruitment company JobStreet Corporation Berhad.

    As per the memorandum of understanding between the two companies, TV18 will initially infuse $ 2 million in cash and provide on-going media support to the business of the JobStreet.com.

    With this investment into JobStreet.com India, TV18 is making an aggressive entry into the e-recruiting market. The move is in line with the group’s increasing focus on the growing Internet opportunities in India.

    To JobStreet, this partnership meets its objective of combining its e-recruitment solution with a strategic local leader with media assets, which has proven to be a winning formula.

    TV18 CEO Haresh Chawla said, “We expect to strengthen our presence in the consumer Internet space with this acquisition – this is part of our strategy to expand our offering to Indian consumers by exploiting the growing power and reach of the Internet. Over the last five years, TV18 has consistently invested in and built successful Internet franchises in India.

    The group already owns well established online platforms – moneycontrol.com, commoditiescontrol.com, poweryourtrade.com and ibnlive.com.

    The group has also recently seeded yatra.in with Norwest Venture Partners (NVP) – Promod Haque’s venture capital firm, which aims to revolutionise the travel services space in India. With JobStreet.com India, we will bring value to millions of job seekers in India. We are delighted to partner with JobStreet in this exciting venture.”