Times Internet

(Redirected from Times Internet Limited)
Jump to: navigation, search
Times Internet
Founded 1999 (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. Many of these products are among the largest in their respective categories in India. These include Gaana in music streaming, TOI in news, ET in business news, MagicBricks in online real estate, BrainBaazi in online trivia among many more.[1][2]

They also partner with global organizations to help expand their reach and build their business in India. Through its venture capital arm - TLabs, they are an active investor in digital startups in India.

Time Internet has over 270 million unique monthly visitors who collectively spend 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 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 transformed itself from a media-led company to a digital products-led company.[2] It built and acquired multiple digital products - each with an independent decision-making unit to drive greater agility & focus.

Gaana, launched in 2010, rapidly scaled up to become one of India’s largest music streaming company with over 65 million users today.[6]

In 2012, it launched BoxTV - one of India’s first video OTT players but failed to scale it, winding down operations in 2016.[7] It also acquired MensXP, a lifestyle portal for men.[8]

In 2014, it made three major acquisitions - Cricbuzz, Dineout and CouponDunia.[9][10][11] It also re-branded Indiatimes as a youth-centric, infotainment platform.[12]

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.[13]

In 2016, it acquired ‘The Viral Shots’ and WillowTV.[14] It also invested in Haptik, which is today India’s largest conversational AI platform.[15][16]

As their portfolio kept growing, Times Internet built Colombia, a full stack AI led ad-tech network that unites all their digital products on one central platform. Through this platform, they are able to move & monetize users across their various digital properties, based on consumer interests & needs. [2][17]

During this time, the company also created two strategic verticals - TLabs and Times Bridge.[2]

TLabs is the company’s venture capital arm which has since invested in over 50 startups across multiple digital-led categories. It was one of the first investors in Delhivery, which is now one of India’s largest logistics companies.[18][19] Some of their investments include the online learning app Gradeup and the offline to online solutions provider, GetMeAShop, which have now become part of the company’s core products portfolio.[20][21] They have also invested in upcoming startups like BYJU’S, Ridlr, Voonik, MintM etc.[22]

Times Bridge was created to leverage the company’s expertise, resources and reach, to enable global digital-led businesses to set-up and grow their business in India. They have partnered with leading global brands like Uber, Airbnb, Coursera among others.[23][24][25]

Post 2017: Recent Developments

In February 2017, Times Internet launched ETInsure, an online insurance distribution platform.[26]

In July 2017, a ComScore report showed that Times Internet captured 51% market share of digital news consumption in India.[27]

In October 2017, Times Bridge entered into a partnership with Houzz, a startup focused on home improvement and redesign.[28]

In December 2017, Times Internet acquired House of God, the leading online provider of spiritual content in India.[22]

In January 2018, it acquired MX Player, a video OTT platform with over 65 million daily active users.[29]

In February 2018, it partnered with Tencent to invest $115 million in Gaana.[30]

In February 2018, it launched BrainBaazi, a live streaming trivia platform.[31] It has since become the most popular trivia app, both on the Google Play Store and Apple App Store. [32]

In April 2018, it launched ET Prime, a members only, subscription-led business storytelling platform. [33]

In May 2018, IBM's The Weather Company entered into a strategic partnership with Times Bridge.[34]

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. (As on May 17, 2018) [35]

References

  1. ^ ""The biggest challenge is monetisation": Gautam Sinha, CEO, Times Internet". www.afaqs.com. Retrieved 2018-05-18. 
  2. ^ a b c d "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. ^ "Advertising is just 47% of my business: CEO, Times Internet". Indian Advertising Media & Marketing News – exchange4media. Retrieved 2018-05-18. 
  7. ^ "Times Internet acquires MX Player. For $200 million - The Ken". The Ken. 2018-01-24. Retrieved 2018-05-18. 
  8. ^ "Times Internet acquires men's lifestyle portal MensXP". The Economic Times. 2012-11-27. Retrieved 2018-05-18. 
  9. ^ "Times Internet acquires Cricbuzz". Cricbuzz. Retrieved 2018-05-18. 
  10. ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2018-05-18. 
  11. ^ indiainfoline.com. "Times Internet acquires majority stake in Coupondunia". Retrieved 2018-05-18. 
  12. ^ www.ETtech.com. "How Indiatimes revived itself into the world's top social publisher - ETtech". ETtech.com. Retrieved 2018-05-18. 
  13. ^ "Times Internet acquires majority stake in Taskbucks for $15M". VCCircle. 2015-11-16. Retrieved 2018-05-19. 
  14. ^ "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. 
  15. ^ "Haptik | About Us". Retrieved 2018-05-18. 
  16. ^ "Haptik, an India-based mobile concierge service, raises $11.2M from Times Internet – TechCrunch". techcrunch.com. Retrieved 2018-05-18. 
  17. ^ www.ETCIO.com. "Leaders Speak - Gautam Sinha, CEO, Times Internet | Do Big Stories | ET CIO". ETCIO.com. Retrieved 2018-05-18. 
  18. ^ "A Roundup of Times Internet's Investments | Times Internet Corporate Blog". blog.timesinternet.in. Retrieved 2018-05-18. 
  19. ^ S.H., Salman (2018-04-30). "India's next unicorns: The 8 that have grabbed investor attention". https://www.livemint.com/. Retrieved 2018-05-18.  External link in |work= (help)
  20. ^ "Times Internet invests in online education marketplace GradeStack". VCCircle. 2014-03-28. Retrieved 2018-05-18. 
  21. ^ "Times Internet acquires TLabs incubated Get Me A Shop". Techcircle. 2015-12-01. Retrieved 2018-05-18. 
  22. ^ a b "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. 
  23. ^ "Uber Takes Strategic Investment From Times Internet To Boost Its Visibility In India – TechCrunch". techcrunch.com. Retrieved 2018-05-18. 
  24. ^ "Airbnb, Times Group in strategic partnership - Times of India". The Times of India. Retrieved 2018-05-18. 
  25. ^ "Times Internet enters into strategic partnership with Coursera - MediaNama". www.medianama.com. Retrieved 2018-05-19. 
  26. ^ "Times Internet launches ETinsure.com to simplifyinsurance buying, claims". The Economic Times. 2017-02-04. Retrieved 2018-05-18. 
  27. ^ "Times Internet captures 51% market share of digital news consumption in April 2017". www.bestmediaifo.com. Retrieved 2018-05-18. 
  28. ^ "Online marketplace for homeowners Houzz partners with Times Bridge to tap India - MediaNama". www.medianama.com. Retrieved 2018-05-19. 
  29. ^ "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. 
  30. ^ "Tencent Is Said to Lead $115 Million Deal in India's Gaana". Bloomberg.com. 2018-02-27. Retrieved 2018-05-18. 
  31. ^ "Times Internet launches real-time quiz app Brain Baazi". www.medianama.com. Retrieved 2018-05-18. 
  32. ^ "BrainBaazi live show tops 5 lakh concurrent viewers - Times of India". The Times of India. Retrieved 2018-05-18. 
  33. ^ "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. 
  34. ^ "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. 
  35. ^ "Investor Rankings | Mattermark - Big Data Meets Venture Capital". mattermark.com. Retrieved 2018-05-18.