New Delhi:
NDTV Ltd has announced the first round of investor funding for its new ecommerce ventures, a marketplace for gadgets and new cars and bikes. NDTV has raised funding at a combined valuation of close to 80 million USD. The investors include Inflexionpoint (Cofounded by John Scully, former Apple CEO), Pramod Bhasin (Founder, Genpact), Sixth Sense Ventures (Founded by Nikhil Vora), Vindi Banga (Former Chairman, Unilever), Hiro Mashita (Founder and Director of M&S Partners) and other HNIs.
NDTVGadgets.com is already India's largest technology website. Gadgets 360 will add ecommerce, providing millions of users with exclusive launches of phones through special deals with manufacturers. Gadgets 360 is now valued close to 50 million USD.
Fifth Gear Auto is expanding on the massive following of NDTV's car and bike content on the network's television channels.
NDTVAuto.com has established the credibility of the brand in this space, having become one of the fastest growing auto portals since its launch about a year ago. The venture has raised funds close to a valuation of 30 million USD.
"Gadgets and Auto have become two of the most exciting areas of expansion for the NDTV Group. We had built a powerful brand connect in both these areas thanks to our TV programming, with popular shows like Gadget Guru, Cell Guru and the Car and Bike Show" said Vikram Chandra, CEO, NDTV Group. "We have extended this customer connect by building a very powerful online presence with the number one Gadget site in the country and the fastest growing Auto site. We are now taking the next logical step to strengthen our influence amongst the Gadget and Auto buying communities in India."
The bedrock of the Company's digital content
ndtv.com has grown from strength to strength and is now India's leading pure news site with 65 million users in India and across the world, clocking a growth of 40% YOY.
Digital and e-commerce revenues now account for 21% of total group topline (up from 13% in the same period last year) reflecting the ongoing commitment and investments of the NDTV Group into building key digital assets. This also heralds NDTV's transition to a digital media company from a pure television play.