Times Internet Explained

Times Internet
Type:Private
Location:Gurgaon, India
Key People:
  • Satyan Gajwani
    (vice chairman)
  • Puneet Gupt
    (COO)
Area Served:Worldwide
Products:
Industry:Technology
Services:
Subsid:See below
Parent:The Times Group

Times Internet is an Indian multinational technology company, headquartered in Gurgaon, India which owns, operates and invests in various internet-led products, services and technology. It is the digital arm of The Times Group, the largest media conglomerate in India.[1] Times Internet currently owns and operates 39+ digital products across news, sports, music, video, trivia, spirituality and a suite of transaction-led market-places across real estate, personal finance, education, jobs, table reservation, agri-business, etc.

Through its venture capital arm TVentures, Times Internet has invested in over 50 start-ups in the technology space such as logistics provider Delhivery, bus aggregating platform Shuttl, ed-tech platform Byju's, gaming platform MPL among others.

Times Internet reaches over 450 million monthly visitors who collectively spend over 13 billion minutes across all its products and services.

History

1999–2012: Initial years

In its initial years, Times Internet primarily focused on digital media—handling the online versions of The Times Group which is owned by Sahu Jain family. Some major print publications includes The Times of India, The Economic Times and Navbharat Times.[2]

Times Internet ventured into multiple new categories with mixed success. It entered social networking and e-commerce with Indiatimes but was unable to scale the business.[3] The company achieved success with MagicBricks, an online real estate platform launched in 2006 and iDiva, a women's lifestyle portal in 2009.[4] [5]

2012–2017: Early investments

Times Internet gradually transformed from a media-led company to a technology-led company. It became a conglomerate of multiple digital products, each operating independently within the group.

Times Internet made a series of acquisitions—buying majority stakes in MensXP in 2012,[6] CricBuzz, Coupondunia and Dineout in 2014,[7] [8] [9] Taskbucks in 2015,[10] 'The Viral Shots' and WillowTV in 2016. In 2016, it also forged a strategic alliance with Haptik, an AI-enabled chatbot service.[11] The company launched its startup accelerator, TLabs in 2012 through which it invested in upcoming digital startups like Delhivery, Pratilipi etc.

Times Internet also launched multiple new digital products—Happy Trips in 2014,[12] ET Money and NewsPoint in 2015.[13] Also in 2015, Times Internet launched Samayam, a website that provides news in Tamil, Telugu and Malayalam languages.[14] In association with HDFC Bank, it launched 'Times Points HDFC Bank Debit Card', an exclusive co-branded debit card in 2016.[15] It also ventured into video streaming with Box TV Limited in 2012 but shut it down in 2016.[16]

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

2017–2019: Continued investments

Times Internet continued to acquire and launch multiple new digital products across the consumer technology space. It launched ET Insure in February 2017,[18] BrainBaazi in February 2018, and ET Prime in April 2018. It acquired 'House of God' in December 2017[19] and partnered with Tencent to invest $115 million in Gaana in February 2018.[20]

On 28 June 2018, Times Internet acquired MX Player, the world's largest video player for $140 million.[21]

On 20 February 2019, Times Internet re-launched MX Player as a video streaming platform, with over 100,000 hours of premium content across movies, TV and web shows etc.[22]

On 15 April 2019, Times Internet revamped its brand identity to reflect its new "Everything. Everyday." ethos that desires to bring people closer to their interests and aspirations every day.[23]

On 24 April 2019, Times Internet participated as a lead investor in $35.5 million (Rs 2.50 billion) Series-A funding round of Mobile Premier League (MPL).[24]

Subsidiaries and products

Product ! scope="col"
DescriptionNote
Ahmedabad MirrorNews portal focused on AhmedabadNews
Bangalore MirrorNews portal focused on Bengaluru
Ei SamayNews portal in Bengali
ET (The Economic Times)Business and financial news platform
ETimesEntertainment news portal
IndiatimesNews and infotainment platform
Maharashtra TimesNews portal in Marathi
Miss KyraEntertainment, lifestyle, and fashion news portal
Navbharat TimesNews portal in Hindi
NavGujarat SamayNews portal in Gujarati
NewsPointNews aggregation portal
Pune MirrorNews portal focused on Pune
TOI (Times of India)News portal in English
Vijay KarnatakaNews portal in Kannada
SamayamInfotainment and News portal in Malayalam, Telugu, and Tamil
AstrospeakAstrology and horoscope service
TimesPropertyNews Portal for real estate industry
BaaziNowLive video and gaming platform
CouponDuniaDeals discovery platform
CricBuzzCricBuzzCricket infotainment platform
CricPlayCricket Fantasy Appextinct
DatabackData savings service
DineoutTable reservation service
ET MoneyPersonal money management service
GaanaMusic streaming platform
MX PlayerVideo player and streaming platform
Get Me a ShopOffline to online eCommerce service
Happy TripsTravel guide and information portal
iDivaWomen's lifestyle portal
MagicBricksReal estate listings and information portal
MensXPMen's lifestyle portal
Speaking TreeSpirituality platform and network
TaskbucksReward based discovery platform
TechGigTechnology platform and community
Times CardLifestyle focused credit cards
Times JobsJobs listings portal
Times NowA TV news channel operates in India
Times PrimeDigital subscriptions platform
Whats HotLocal guide to your city
WillowA TV channel, broadcast cricket
GradeupExam Preparation App
Times XP HindiNew Video Platform for Hindi News

External links

Notes and References

  1. Web site: Biggest names in music rock Gaana show. India Post. en-US. 18 June 2018.
  2. News: Times Internet's Gautam Sinha On Turning A Legacy Media Company into A Conglomerate Of 37 Digital Startups – Inc42 Media. 26 December 2016. Inc42 Media. 18 May 2018. en-US.
  3. News: Times Internet Scaling Down E-commerce Operations.
  4. News: Magicbricks.com awarded the best online realty portal. 18 May 2018.
  5. News: iDiva.com wins 2 million hearts in 6 months. 19 June 2009. The Economic Times. 18 May 2018.
  6. News: Times Internet acquires men's lifestyle portal MensXP. 27 November 2012. The Economic Times. 18 May 2018.
  7. News: Times Internet acquires Cricbuzz. Cricbuzz. 18 May 2018. en.
  8. Web site: Tech in Asia – Connecting Asia's startup ecosystem. www.techinasia.com. en-US. 18 May 2018.
  9. News: Times Internet acquires majority stake in Coupondunia. indiainfoline.com. 18 May 2018. en.
  10. News: Times Internet acquires majority stake in Taskbucks for $15M. 16 November 2015. VCCircle. 19 May 2018. en-US.
  11. Web site: Haptik, an India-based mobile concierge service, raises $11.2M from Times Internet – TechCrunch. techcrunch.com. en-US. 30 May 2018.
  12. News: Times Internet launches travel portal, HappyTrips.com. Indian Advertising Media & Marketing News – exchange4media. 31 May 2018. en-US.
  13. News: ET Money's big billion feat. 25 September 2017. The Economic Times. 31 May 2018.
  14. Web site: 3 November 2015. Times Internet launches Samayam – digital news & infotainment brand in Tamil, Telugu and Malayalam – Exchange4media. 16 July 2020. Exchange4media. en.
  15. News: Times Internet associates with HDFC Bank to launch 'Times Points HDFC Bank Debit Card'. indiainfoline.com. 31 May 2018. en.
  16. News: Times Internet acquires MX Player. For $200 million – The Ken. 24 January 2018. The Ken. 18 May 2018. en-US.
  17. News: Times Internet's Gautam Sinha On Turning A Legacy Media Company into A Conglomerate Of 37 Digital Startups – Inc42 Media. 26 December 2016. Inc42 Media. 30 May 2018. en-US.
  18. News: Times Internet launches ETinsure.com to simplifyinsurance buying, claims. 4 February 2017. The Economic Times. 18 May 2018.
  19. News: Times Internet Acquires Spiritual Content Startup House Of God; Enters The Country's $40 Bn Religious Market. 18 December 2017. Inc42 Media. 18 May 2018. en-US.
  20. News: Tencent Is Said to Lead $115 Million Deal in India's Gaana. 27 February 2018. Bloomberg.com. 18 May 2018. en.
  21. Web site: India's Times Internet buys popular video app MX Player for $140M to get into streaming – TechCrunch. techcrunch.com. en-US. 29 June 2018.
  22. Web site: Times Internet to launch new avatar of MX Player on February 20. 6 February 2019. www.afaqs.com. en-US. 9 May 2019.
  23. Web site: Times Internet: Everything. Everyday.. timesinternet.in. 9 May 2019.
  24. Web site: MPL secures Rs 250 cr from Go-Jek arm, Sequoia India & Times Internet – ETtech. www.ETtech.com. ETtech.com. en. 26 April 2019.