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Tag: Web18

  • Network18 ropes in ex Flipkart exec Manish Maheshawari as CEO of Web18

    Network18 ropes in ex Flipkart exec Manish Maheshawari as CEO of Web18

    MUMBAI: The Network18 Group has roped in Manish Maheshawari as the new CEO of Web18. Maheshawari was previously with Indian eCommerce major Flipkart as VP and head of its seller ecosystem. Maheshawari will lead Network18’s digital and e-commerce assets which includes digital portals such as moneycontrol.com, ibnlive.com, in.com, firstpost.com, etc.

    As the CEO of Web18, Maheshawari’s immediate priorities will be  to drive content, monetization, new business, inorganic growth, and product portfolio management.

    Talking about the new appointment, Network18 group chairman Adil Zainulbhai said, “Manish brings with him a good mix of Silicon Valley tech product culture and an understanding of ground realities of India. Both these qualities will be crucial as we take Network18 to the next level of digital transformation. He has a proven track record of taking up projects and achieving a scale of tens of millions, building cross-functional teams that deliver in large setting with an unflinching focus on customer experience.”

    Maheshawari can be credited with growing Flipkart’s marketplace by 10x — from 10,000 sellers in February 2015 to over 100,000 sellers in February 2016.  Prior to that, he co-founded txtWeb and grew it from scratch with over 16 million mobile users in India alone.

     

  • Network18 ropes in ex Flipkart exec Manish Maheshawari as CEO of Web18

    Network18 ropes in ex Flipkart exec Manish Maheshawari as CEO of Web18

    MUMBAI: The Network18 Group has roped in Manish Maheshawari as the new CEO of Web18. Maheshawari was previously with Indian eCommerce major Flipkart as VP and head of its seller ecosystem. Maheshawari will lead Network18’s digital and e-commerce assets which includes digital portals such as moneycontrol.com, ibnlive.com, in.com, firstpost.com, etc.

    As the CEO of Web18, Maheshawari’s immediate priorities will be  to drive content, monetization, new business, inorganic growth, and product portfolio management.

    Talking about the new appointment, Network18 group chairman Adil Zainulbhai said, “Manish brings with him a good mix of Silicon Valley tech product culture and an understanding of ground realities of India. Both these qualities will be crucial as we take Network18 to the next level of digital transformation. He has a proven track record of taking up projects and achieving a scale of tens of millions, building cross-functional teams that deliver in large setting with an unflinching focus on customer experience.”

    Maheshawari can be credited with growing Flipkart’s marketplace by 10x — from 10,000 sellers in February 2015 to over 100,000 sellers in February 2016.  Prior to that, he co-founded txtWeb and grew it from scratch with over 16 million mobile users in India alone.

     

  • Rajan Srinivasan bids adieu to Web18

    Rajan Srinivasan bids adieu to Web18

    MUMBAI: Rajan Srinivasan has decided to move on from his role as CEO, IBNLive. During his stint with Web18, Srinivasan managed a variety of mandates including head of sales for moneycontrol, head of sales and marketing for Web18 and CEO, IBNLive.

     

    He has been part of the core team that has helped build some of country’s leading digital brands like moneycontrol.com and IBNLive.com.
    Rajan Srinivasan is proud of what Web18 achieved over the past many years with it

     

    Speaking on this development, Web 18 CEO Lakshmi Narasimhan said: “Rajan has been with our web business for over eight years and has been a pillar of strength for our business. He has taken on every challenge we have thrown at him and has come out tops. He has been an integral part of our team and has made a big difference to us in many ways. I would like to wish him the very best in all his future endeavours.”

     

    Rajan Srinivasan added: “I am proud of what we achieved over the past many years at Web18. I am more than grateful for the immense support I’ve received from the Network18 team, our customers and our partners. Clearly, this is a rather emotional and tough call but I am happy to know that the Web18 suite of products are well positioned as well as future ready and wish them every success.”

     

     Srinivasan has over eighteen years of experience in the media industry, including nine in the digital space. Prior to joining Network18 in 2003, he had stints with the Indian Express, Sony Entertainment Television and BBC World.

  • Web18 appoints CEOs for Moneycontrol and ibnlive

    Web18 appoints CEOs for Moneycontrol and ibnlive

    MUMABI: Web18, the digital content arm of Network18, has decentralised its operating structure built around key strategic business units by assigning new responsibilities to Joyson Thomas and Rajan Srinivasan.

    Thomas, who was earlier the COO at Web18, has now been entrusted the charge of leading Moneycontrol.com as CEO, while Srinivasan, who was serving as the sales and marketing head at Web18, will now take over the CEO of ibnlive.com.

    Web18 CEO Lakshmi Narasimhan said “At Web18, we have built some world-class digital brands which enjoy deep engagement across communities and stakeholders. We are now well-positioned to scale-up our leadership and this move is essential to achieving that objective. Moneycontrol has been central to our growth story and Joyson has been a force behind it since the beginning. His expertise will be critical in taking it to yet another benchmark in the financial space. Rajan has ably led our monetization and brand building effort and we‘re confident that he will now steer the ibnlive and digital news operations based in Delhi onto new successes”

    On his new role Thomas said “It‘s been a momentous journey so far and my experience with Moneycontrol has been intense and enriching over the years. I hope to bring it to bear as we thrust ahead and further strengthen its leadership. I look forward to working with the team to ensure we add new dimensions to Moneycontrol‘s growth path”

    “ibnlive has led from the front as general news has rapidly evolved in the context of social media and mobile growth. The brand is at a very exciting juncture in its journey and I look forward to working with the team to ensure we succeed on all fronts,” Srinivas added.

    Thomas has over two decades of experience in the financial media and advisory space. He was one of the founding members of the Moneycontrol team and has managed a variety of product and technology mandates at Web18 since 1999.

    Meanwhile, Srinivasan has eighteen years of experience in the media industry, including nine in the digital space. Prior to joining Network18 in 2003, he had stints with the Indian Express, Sony Entertainment Television and BBC World.

  • Grey to handle creative duties of Network18’s corporate account

    MUMBAI: WPP owned ad agency Grey has won the creative duties for Network18’s corporate account

    The agency will handle the account from its Mumbai office.

    A multi-agency pitch was conducted prior to awarding the account to Grey.

    Grey recently won the creative mandate for In.com, which is part of Network18’s digital arm Web18.

    The agency will be responsible for brand building for the network and its first project will be along the lines of a corporate campaign in which the various arms, ventures and properties of the media conglomerate are likely to be leveraged.

    Network18 Group has operations across television, internet, entertainment, e-commerce, magazines and the mobile medium. The television operations include business news channels CNBC-TV18, CNBC Awaaz, general news channels CNN-IBN and IBN7, and IBN-Lokmat.

  • TV18 news biz turns net positive in FY’11

    TV18 news biz turns net positive in FY’11

    MUMBAI: The news business of Television 18 India (TV18), showing signs of recovery, has turned positive at the net profit level for the fiscal ended 31 March 2011.

    The company, which runs the news channels CNBC TV18 and CNBC Awaaz, has posted a standalone net profit of Rs 390 million for the fiscal compared to a net loss of Rs 600 million in the year-ago period.

    Revenue from news operations has gone up 12.1 per cent to Rs 3.06 billion, as against Rs 2.73 billion in the previous fiscal. Expenditure at Rs 2.19 billion was marginally down compared to Rs 2.23 billion that the company had incurred in FY’10.

    Meanwhile, operating profit rose to Rs 870 million, from Rs 500 million a year ago.

    For the three-month period ended 31 March, the company has, however, seen a dip in the net profit. The standalone net profit for the quarter stood at Rs 170 million, down from Rs 240 million it had reported in the corresponding quarter of the previous fiscal.

    Revenue rose 13 per cent to Rs 950 million (from Rs 840 million), while expenses grew marginally to Rs 670 million (from Rs 620 million).

    The firm’s operating profit for the quarter was Rs 280 million, up from Rs 220 million in the previous fiscal quarter.

    On a consolidated basis, TV18 reduced its full fiscal net loss to Rs 210 million, from a net loss of Rs 1.17 billion in FY’10. The revenue of the company rose to Rs 5.90 billion from Rs 5.53 billion (FY’10), while operating expenses stood stagnant at Rs 5.27 billion.

    The consolidated result also includes financials of Web18, Newswire18 and Infomedia18.

    Web18:

    Web18, which houses the web properties of the group including in.com, Moneycontrol.com and bookmyshow.com, turned profitable on operational level for the full fiscal. It reported an operating profit of Rs 10 million, as against an operating loss of Rs 90 million a year ago.

    Revenue generated from operations increased by 16.44 per cent to Rs 850 million, as against Rs 730 million (FY’10). Expenses were at Rs 840 million, up from Rs 820 million.

    For the fiscal fourth-quarter, Web18 posted operating profit of Rs 30 million (Rs 20 million in Q4FY10). Revenue stood at Rs 250 million (from Rs 230 million), while expenses were at Rs 220 million (from Rs 200 million).

    Newswire18:

    Newswire18 also posted operating profit for the full fiscal as well as the fourth-quarter. Revenue stood at Rs 390 million (from Rs 330 million in previous fiscal) while operating profit remained constant at Rs 20 million. For the quarter, revenue and expenses stood at Rs 100 million each.

    Infomedia18:

    Infomedia18, meanwhile, saw net loss widening to Rs 420 million for the fiscal (from Rs 40 million in FY’10). Revenue fell to Rs 1.60 billion, from Rs 1.74 billion in FY10. Expenses, meanwhile, were at Rs 1.87 million, from Rs 1.91 billion in FY’10.

    Operating losses increased to Rs 270 million, from Rs 170 million.

    Even in Q4, the company posted net loss of Rs 100 million, as against a net profit of Rs 100 million. Income from operations fell to Rs 480 million, from Rs 760 million. Operating expenses fell to Rs 540 million, from Rs 800 million.

    Operating profit, meanwhile, rose to Rs 60 million, from Rs 40 million in the corresponding quarter of the previous fiscal.

    Shares of TV18 closed Monday at Rs 75.25 on the BSE, down 0.99 per cent.

  • TV18 standalone Q3 net profit at Rs 120 mn

    TV18 standalone Q3 net profit at Rs 120 mn

    MUMBAI: Television18, the company that houses business news channels CNBC-TV18 and CNBC Awaaz, has posted a better third-quarter result due to an upswing in revenues.

    For the three months ended December, TV18 has posted a standalone net profit (after tax and minority interest, before ESOP charge out) of Rs 120 million compared to a net loss of Rs 150 million in the previous year quarter. The company had posted a net profit of Rs 90 million in the trailing quarter.

    Revenue from news operations at Rs 790 million stands 17.91 per cent higher than the year-ago period. For the trailing quarter, TV18‘s standalone revenue was at Rs 680 million.

    Operating expenses for the quarter stood at Rs 560 million (from Rs 510 million a year ago). However, it is much higher than the trailing quarter, which was at Rs 470 million.

    Meanwhile, TV18 improved its operating margins to 29 per cent from prior year’s 25 per cent.  
         
      On a consolidated basis, TV18, which also includes financials of Web18,
    Infomedia18 and Newswire18, has posted a net profit (after tax and minority interest, before ESOP charge out) of Rs 80 million. For the same quarter of the previous year, the net loss stood at Rs 400 million.

    Revenue from consolidated operations went up to Rs 1.47 billion as compared to Rs 1.29 billion a year ago. Expenses stood at Rs 1.27 billion, from Rs 1.20 billion in the earlier year.

    Meanwhile, Web18, the subsidiary that houses all the websites of the group, has seen operational breakeven in the quarter under review. The revenue from operations grew to Rs 220 million, while expenses also remained at 220 million.

    In Infomedia18, the net loss for the quarter stood at Rs 70 million, down from Rs 90 million in the corresponding quarter of previous fiscal.

    Revenue jumped to Rs 360 million (from Rs 330 million), while expenses stood at Rs 410 million, from Rs 380 million a year ago.

    In Newswire18, revenue rose to Rs 100 million, from Rs 80 million a year ago. The company did not disclose net profit (or loss) of the segment. The expenses were at Rs 90 million while operating profit was at Rs 20 million.
     

  • 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 Q2 standalone net at Rs 90 mn, revenue up 5%

    TV18 Q2 standalone net at Rs 90 mn, revenue up 5%

    MUMBAI: Television18, which runs leading business news channels CNBC-TV18 and CNBC Awaaz, has managed a second consecutive profitable quarter, signaling a rebound in the economy.

    On a standalone basis, TV18 has posted a net profit (after tax and minority interest, before ESOP charge out) of Rs 60 million for the quarter ended 30 September, as compared to a net loss of Rs 330 million a year ago.

    Recovering from the slow down, revenue from news operations saw a marginal 4.6 per cent increase to Rs 680 million, as against Rs 650 million in the corresponding quarter of FY‘10.

    On a sequential basis, the company’s revenue has increased 6.25 per cent as compared to Rs 640 million in Q1.

    Operating expenses were kept under check (down 19 per cent) at Rs 470 million in the quarter under review on Y-o-Y basis (as compared to Rs 580 million).

    Meanwhile, the operating margin of the company jumped to 31 per cent in the quarter under review, compared to 11 per cent in the prior-year period. 
    On a consolidated basis, TV18, which also includes financials of Web18, Infomedia18 and Newswire18, has posted a net loss of Rs 140 million. For the same quarter of the previous year, net loss stood at Rs 560 million.

    Total revenue from consolidated operations jumped 17 per cent to Rs 1.45 billion, as compared to Rs 1.24 billion a year ago. Expenses stood at Rs 1.33 billion, up 3.11 per cent.

    The company announced that all its business have seen revenue growth – five per cent in News Operations, 21 per cent in Web18, 24 per cent in Newswire18 and 35 per cent in Infomedia18.

    The company has also posted an operating profit of Rs 120 million, as against operatin loss of Rs 50 million. However, it said that profits “offset by continued investments” in Infomedia18 and Web18.

    Web18, the subsidiary that houses all the websites of the group, posted a revenue of Rs 190 million (from Rs 160 million a year ago), while expenses remained almost flat at Rs 200 million (from Rs 210 million) during the quarter. The operating loss narrowed to Rs 10 million, from Rs 50 million in the year-ago period.

    In Infomedia18, however, the net loss has increased to Rs 160 million, from Rs 40 million in the corresponding quarter of FY ’10. Revenue has increased to Rs 480 million, from Rs 350 million, while expenses climbed to Rs 570 million from Rs 420 million a year ago.

    In Newswire18, revenue has grown to Rs 100 million, while expenses also stood at Rs 100 million, making it a no profit-no loss unit.

  • TV18 Q1 sets trend for double-digit growth

    TV18 Q1 sets trend for double-digit growth

    MUMBAI: Television18 (TV18), which runs a clutch of business news channels, has posted a standalone net profit of Rs 50 million, reversing the year ago net loss of Rs 280 million, as the Indian economy has recovered from a slowdown and the financial sector has rebounded.

    Revenue from news operations at Rs 640 million stands 13 per cent higher than the prior-year period. This, though, is less than the trailing quarter when TV18’s standalone revenue was at Rs 840 million due to the advertising gains from the Budget.

    Operating profit at Rs 160 million was higher than Rs 60 million posted in the first quarter of FY’10. TV18 also improved its operating margins to 24 per cent from prior year’s 11 per cent.

    Operating expenses, including the revenue it shares with CNBC, stood at Rs 490 million, down from Rs 510 million in the comparative quarter.

    On the consolidated front, TV18 posted a revenue of Rs 1.2 billion, up 12 per cent, while expenses stood at Rs 1.12 billion, from Rs 1.07 billion in the earlier year.

    Web18, the subsidiary that houses all the websites of the group, has curtailed its operating loss to Rs 30 million, as against Rs 40 million a year ago. Revenue from operations grew 26 per cent to Rs 180 million, while expenses were at Rs 210 million (from Rs 180 million).

    In Infomedia18, the net loss for the quarter increased to Rs 80 million, from Rs 20 million in the corresponding quarter of FY’10. Revenue, however, remained flat at Rs 290 million, while expenses increased to Rs 350 million (from Rs 310 million).

    In Newswire18, revenue rose to Rs 90 million, from Rs 70 million a year ago. The company posted an operating profit of Rs 10 million.

    As on 30 June, TV18 has reduced its net debt to Rs 2.24 billion.