Justdial
{{Short description|Indian Internet technology company}}
{{Use dmy dates|date=March 2019}}
{{Use Indian English|date=March 2019}}
{{Infobox company
| name = Just Dial Limited
| logo = Justdial_Logo.svg
| logo_size =
| trading_name = Justdial
| former_name = A&M Communications Private Limited (1993–2006)
Just Dial Private Limited (2006–2011)
| type = Public
| traded_as = {{plainlist|
- {{NSE|JUSTDIAL}}
- {{BSE|535648}}}}
| ISIN = INE599M01018
| founded = {{Start date and age|1996}}
| location = Mumbai, Maharashtra
| location_country = India
| founder = V. S. S. Mani
| industry = {{plainlist|
| services = Local search
| key_people = {{Unbulleted_list
| V. S. S. Mani
(MD & CEO){{Cite web |url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=30088893&privcapId=29763167|title=Company Overview of Justdial Limited |website=Bloomberg|date=14 November 2016}}
| Abhishek Bansal
(CFO){{cite news|url=http://profit.ndtv.com/news/interviews/article-just-dial-bets-on-search-plus-service-to-boost-revenues-375978|title=Just Dial bets on search plus service to boost revenues|work=NDTV Profit|date=27 December 2013 |access-date=2 March 2019}}
}}
| revenue = {{increase}} {{INRConvert|844.7|c}} (FY23){{cite web|title=Justdial Results|url=https://inc42.com/buzz/just-dial-q4-results-net-profit-surges-278-yoy-to-inr-83-8-cr/|website=Inc42|date=18 April 2023 }}
| net_income = {{increase}} {{INRConvert|162.7|c}} (FY23)
| num_employees = 10,984 (June 2020){{cite news|url=http://www.medianama.com/2016/02/223-justdial-sales-team-hire|title=JustDial to hire more than 4,000 people for sales this year|work=Medianama|date=24 February 2016}}
| area_served = India
| parent = Reliance Retail
| website = {{URL|https://www.justdial.com}}
}}
Justdial is an Indian internet technology company that provides local search for different services in India over the phone, website and mobile apps. Founded in 1996 by V. S. S. Mani,{{Cite news|url=http://forbesindia.com/article/big-bet/just-dial-new-world-new-game-for-vss-mani/38615/1|title=Just Dial: New World, New Game for VSS Mani|work=Forbes India|date=15 September 2014}} the company is headquartered in Mumbai, India.{{Cite news|url=http://economictimes.indiatimes.com/news/company/corporate-trends/vss-mani-the-man-who-dialled-the-right-numbers/articleshow/7925169.cms|title=VSS Mani, the man who dialed the right numbers|work=The Economic Times|date=11 April 2011}} In addition to its headquarters, Justdial has offices in Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, New Delhi, Hyderabad, Jaipur, Kolkata, and Pune. In 2020, Justdial had 10,984 employees,{{cite web|title=Justdial Corp Information|url=https://www.bseindia.com/stock-share-price/just-dial-ltd/justdial/535648/corp-information/|website=BSE India}} and a database of approximately 29.4 million listings and 536,236 active paid campaigns.{{Cite news|url=https://economictimes.indiatimes.com/markets/stocks/earnings/just-dial-reports-80-improvement-in-ebitda-margin-revenues-up-9-in-third-quarter/articleshow/62609294.cms|title=Just Dial reports 80% improvement in EBITDA margin, revenues up 9% in third quarter|last=Srinivasan|first=Supraja|date=2018|work=The Economic Times|access-date=2018-05-15}} On 16 July 2021, Reliance Retail acquired a 66.95% stake in Justdial for {{currency|3497|INR}} crores.{{Cite web|url=https://www.businesstoday.in/latest/corporate/story/reliance-retail-to-acquire-6695-stake-in-justdial-for-rs-3497-cr-301579-2021-07-16|title=JustDial Acquisition|website=Businesstoday.in|date=16 July 2021 }}{{Cite news|title=Just Dial founder Mani sells 21% to Reliance Retail in Rs 1,332 crore block deal|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/just-dial-founder-mani-sells-21-to-reliance-retail/articleshow/84596388.cms|access-date=2021-08-18}}
History
In 1987, while working for a yellow pages company, V. S. S. Mani thought of replacing yellow pages with a database of information that users could call to receive current information about local business listings. To launch his venture, Mani acquired the Mumbai landline phone number 2888-8888. After several years of seeking financial backing for his idea, Mani launched Justdial in 1996 with a seed capital of {{currency|50000|INR}}, five employees, a few rented computers, and borrowed furniture.{{Cite web|date=2 June 2015|title=How Justdial became a Billion Dollar Company?|url=http://dsim.in/blog/2015/06/02/how-justdial-became-a-billion-dollar-company/|access-date=4 March 2019|website=Delhi School of Internet Marketing}}{{Cite web|title=How Justdial founder VSS Mani built the 'Indian Google'|url=https://www.moneycontrol.com/news/business/startup/-1652853.html|access-date=2020-06-30|website=Moneycontrol}}{{Cite web|title=Success on call|url=https://www.businesstoday.in/moneytoday/new-business/success-on-call/story/6957.html|access-date=2020-06-30|website=www.businesstoday.in|date=25 December 2007 }}
In 2007, an Internet and mobile app version of the database called Justdial.com was launched.{{Cite news |url=http://www.outlookbusiness.com/perspective/is-justdial-late-to-the-app-party-1957|title=Is Justdial late to the app party?|work=Outlook Business |date=23 September 2015}}
On 20 May 2013, Justdial went public at a price between {{currency|897|INR}} and {{INR|898}}. Of the total 17.5 million shares, 13.5 million of them were offered to the public, while the rest were given to fifteen previous investors at {{INR|530}} per share. To encourage retail investment, Justdial had promised that they would buy back shares from retail investors at the IPO price if Justdial's share price fell sharply within the first six months.{{Cite news|url=http://profit.ndtv.com/news/cheat-sheet/article-justdial-model-similar-to-google-management-322236|title=Justdial model similar to Google: management|date=20 May 2013}} By the close of the market on the day of the IPO, the majority of new investments had come from foreign institutional investors. On 5 August of the next year, Justdial's share price reached a high of {{INR|1,894.70}}, subsequently decreasing to the triple digits{{how much|date=March 2019}} in 2015.{{Cite news|url=http://profit.ndtv.com/news/market/article-the-spectacular-rise-and-fall-of-just-dial-shares-1272396|title=The Spectacular Rise and Fall of Just Dial Shares|date=1 February 2016}} On 16 July 2021, Reliance Retail acquired a 66.95% stake in JustDial for {{INR|3497}} crores.{{Cite web|title=Realiance acquires Just Dial for $466 million|url=https://www.petrolplaza.com/news/27848|access-date=2021-08-18|website=www.petrolplaza.com|language=EN}} As per the deal, Reliance Retail will hold 40.95 percent, and will make an open offer to acquire up to 26 percent in accordance with takeover regulations.{{Cite news|agency=Press Trust of India|date=2021-07-26|title=Reliance Retail's open offer for Just Dial shareholders to start on Sep 13|work=Business Standard India|url=https://www.business-standard.com/article/markets/reliance-retail-s-open-offer-for-just-dial-shareholders-to-start-on-sep-13-121072601476_1.html|access-date=2021-08-18}} The deal also mentioned that Justdial will allow Reliance access to the 25-year-old listings company's merchant database and Mani will continue to lead Justdial as managing director and chief executive officer.
Products and services
Justdial's service is a database of business listings that users can either access by phone or online. The company also operates "Justdial Social", a service that aggregates content from social media websites, TV broadcast, news, and other sources; and "Search Plus Service", a service that manages online transactions via the web and mobile apps.
Security flaws
On 10 October 2019, Indian-based independent security researcher Ehraz Ahmed detected a major security flaw in eleadmarket's Register API. The flaw allowed competent hackers to log into any eleadmarket account by simply placing the phone number in the username parameter. By doing so, this granted the hacker access to any person's Justdial account. This vulnerability puts the user's personal data at risk, but also compromises the user's social profile since the hacker could use the system ID generated by exploiting the flaw to access the JustDial Pay account, and post on the user's social profile.{{cite web |title=Exclusive: eleadmarket security flaw may allow hackers to breach pay accounts of 156 million users |url=https://www.moneycontrol.com/news/trends/exclusive-just-dial-security-flaw-may-allow-hackers-to-breach-pay-accounts-of-156-million-users-4514931.html |website=Money Control |access-date=1 December 2019}}{{cite web |title=A bug in Indian local search app exposed over 156 million accounts |url=https://thenextweb.com/security/2019/10/10/a-bug-in-indian-local-search-app-exposed-over-156-million-accounts/ |website=The Next Web |date=10 October 2019 |access-date=1 December 2019}} Justdial acknowledged that there was a bug in one of its API.{{cite web |title=Exclusive: Justdial security flaw may allow hackers to breach pay accounts of 156 million users |url=https://www.moneycontrol.com/news/trends/exclusive-just-dial-security-flaw-may-allow-hackers-to-breach-pay-accounts-of-156-million-users-4514931.html |website=Money Control |access-date=1 December 2019}}{{cite web |title=JustDial Accounts Of 15 Crore Users Breached Via Security Flaw; JustDial Says No Financial Loss |url=https://trak.in/tags/business/2019/10/14/justdial-accounts-of-15-crore-users-breached-via-security-flaw-justdial-says-no-financial-loss/ |website=Trak.in |date=14 October 2019 |access-date=1 December 2019}} There was no loss of any data or financial loss reported.
Acquisition
Justdial was acquired By Reliance on July 20, 2021.https://www.livemint.com/companies/news/reliance-retail-completes-acquisition-of-just-dial-11630591621808.html {{Bare URL inline|date=August 2024}} {{cite news | url=https://timesofindia.indiatimes.com/business/india-business/reliance-retail-buys-just-dial-for-rs-5710-crore/articleshow/84489965.cms | title=Reliance Retail buys Just Dial for Rs 5,710 crore | newspaper=The Times of India | date=17 July 2021 }}
On July 20, 2021, RRVL acquired 1.31 crore equity shares of Rs 10 each of Just Dial for Rs 1,020 per equity share from VSS Mani, founder and chief executive of Just Dial, in a block deal.{{cite news | url=https://economictimes.indiatimes.com/industry/services/retail/reliance-retail-acquires-sole-control-of-just-dial/articleshow/85868963.cms?from=mdr | title=Reliance Retail acquires sole control of Just Dial | newspaper=The Economic Times | date=2 September 2021 }}