Times Internet

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Times Internet
Times internet logo.png
Founded 1999; 19 years ago (1999)
Headquarters Gurgaon, India
Key people

Satyan Gajwani, Vice Chairman

Gautam Sinha, CEO
Industry Internet services
Website www.timesinternet.in

Times Internet is an Indian company that owns, operates and invests in various Internet-led products, services and technology. It is the digital arm of the Times Group, one of India’s largest media and entertainment groups.

It currently owns and operates 39+ digital products across news, sports, music, video, trivia, spirituality & a suite of transaction-led market-places across real estate, personal finance, education, jobs, table reservation, personal concierge etc.

In 2018, Time Internet reached over 270 million unique monthly visitors who collectively spent over 10 billion minutes across all its products and services.[1]

History

1999 - 2012: Digital extension of Times Group

In its initial years, Times Internet primarily focused on digital media - handling the digital versions of the Times Group’s major print publications - Times of India, Economic Times, Navbharat Times etc.[2]

It ventured into e-commerce in India with Indiatimes Shopping in 2000 but scaled it down significantly in 2013.[3] It also launched online real estate platform, MagicBricks in 2006, a women's lifestyle portal, iDiva in 2009 and a spirituality content portal, Speaking Tree in 2010.[4][5]

2012 - 2017: From Digital Media to Digital Products

From 2012, Times Internet started to transform from a media-led company to a digital products-led company.[2]

In 2012, it launched BoxTV - a video OTT player but failed to scale it, winding down operations in 2016.[6] It also acquired MensXP, a lifestyle portal for men.[7]

In 2014, it made three major acquisitions - Cricbuzz, Coupondunia and Dineout.[8][9][10] It also re-branded Indiatimes as a youth-centric, infotainment platform.[11]

In 2015, it launched NewsPoint, an app that aggregates news from hundreds of national, regional and international newspapers. It also acquired a majority stake in Taskbucks for a reported sum of $15 million.[12]

Post 2017: Recent Developments

In February 2017, Times Internet launched an online insurance distribution platform.[13]

In October 2017, Times Bridge, a subsidiary of Times Internet, entered into a partnership with a startup focused on home improvement and redesign.[14]

In December 2017, Times Internet acquired House of God, an online provider of spiritual content in India.[15]

In January 2018, it acquired MX Player, a video OTT platform with over 65 million daily active users.[16]

In February 2018, it partnered with Tencent to invest $115 million in Gaana.[17]

In February 2018, it launched BrainBaazi, a live streaming trivia platform.[18]

In April 2018, it launched ET Prime, a members only, subscription-led business storytelling platform. [19]

In May 2018, IBM's The Weather Company entered into a strategic partnership with Times Bridge.[20]

In May 2018, Times Internet’s investment portfolio was ranked 4th ‘Overall’ and 1st in the ‘Late stage’ category among startup investors globally by Mattermark, a leading platform for startup and company data. [21]

References

  1. ^ ""The biggest challenge is monetisation": Gautam Sinha, CEO, Times Internet". www.afaqs.com. Retrieved 2018-05-18. 
  2. ^ a b "Times Internet's Gautam Sinha On Turning A Legacy Media Company Into A Conglomerate Of 37 Digital Startups - Inc42 Media". Inc42 Media. 2016-12-26. Retrieved 2018-05-18. 
  3. ^ "Times Internet Scaling Down E-commerce Operations". 
  4. ^ "Magicbricks.com awarded the best online realty portal". Retrieved 2018-05-18. 
  5. ^ "iDiva.com wins 2 million hearts in 6 months". The Economic Times. 2009-06-19. Retrieved 2018-05-18. 
  6. ^ "Times Internet acquires MX Player. For $200 million - The Ken". The Ken. 2018-01-24. Retrieved 2018-05-18. 
  7. ^ "Times Internet acquires men's lifestyle portal MensXP". The Economic Times. 2012-11-27. Retrieved 2018-05-18. 
  8. ^ "Times Internet acquires Cricbuzz". Cricbuzz. Retrieved 2018-05-18. 
  9. ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2018-05-18. 
  10. ^ indiainfoline.com. "Times Internet acquires majority stake in Coupondunia". Retrieved 2018-05-18. 
  11. ^ www.ETtech.com. "How Indiatimes revived itself into the world's top social publisher - ETtech". ETtech.com. Retrieved 2018-05-18. 
  12. ^ "Times Internet acquires majority stake in Taskbucks for $15M". VCCircle. 2015-11-16. Retrieved 2018-05-19. 
  13. ^ "Times Internet launches ETinsure.com to simplifyinsurance buying, claims". The Economic Times. 2017-02-04. Retrieved 2018-05-18. 
  14. ^ "Online marketplace for homeowners Houzz partners with Times Bridge to tap India - MediaNama". www.medianama.com. Retrieved 2018-05-19. 
  15. ^ "Times Internet Acquires Spiritual Content Startup House Of God; Enters The Country's $40 Bn Religious Market". Inc42 Media. 2017-12-18. Retrieved 2018-05-18. 
  16. ^ "Times Internet Acquires South Korea Based MX Player For $200 Mn, To Launch OTT Video Service". Inc42 Media. 2018-01-24. Retrieved 2018-05-18. 
  17. ^ "Tencent Is Said to Lead $115 Million Deal in India's Gaana". Bloomberg.com. 2018-02-27. Retrieved 2018-05-18. 
  18. ^ "Times Internet launches real-time quiz app Brain Baazi". www.medianama.com. Retrieved 2018-05-18. 
  19. ^ "ET Prime: Our new digital offering with a focus on news, analysis for discerning readers". The Economic Times. 2018-04-27. Retrieved 2018-05-18. 
  20. ^ "Times Bridge joins hand with IBM's The Weather Company to provide personalise climate coverage to Indian users - Times of India". The Times of India. Retrieved 2018-05-18. 
  21. ^ "Investor Rankings | Mattermark - Big Data Meets Venture Capital". mattermark.com. Retrieved 2018-05-18. 
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