Times Internet#Indiatimes
{{short description|Indian multinational technology company}}
{{Use dmy dates|date=September 2022}}
{{Use Indian English|date=January 2022}}
{{Infobox company
| name = Times Internet
| logo = Times Internet.svg
| logo_size =
| logo_caption =
| type = Private
| foundation = {{Start date and age|df=yes|1999}}
| location = Gurgaon, India
| key_people = {{plainlist|
- Satyan Gajwani (vice chairman)
- Puneet Gupt (COO)
}}
| area_served = Worldwide
| products = {{plainlist|
}}
| industry = Technology
| services = {{plainlist|
}}
| subsid = See below
| website = {{URL|www.timesinternet.in}}
| parent = The Times Group
}}
Times Internet is an Indian multinational technology company, headquartered in Gurgaon, 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.{{Cite web|url=http://www.indiapost.com/biggest-names-in-music-rock-gaana-show/|title=Biggest names in music rock Gaana show|website=India Post|date=24 May 2018 |language=en-US|access-date=18 June 2018}} Times Internet currently owns and operates digital products across news, entertainment and classifieds.
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, and gaming platform MPL, among others.
History
= 1999–2011: 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, Maharashtra Times and Navbharat Times.{{Cite news|url=https://inc42.com/startups/times-internet-gautam-sinha/|title=Times Internet's Gautam Sinha On Turning A Legacy Media Company into A Conglomerate Of 37 Digital Startups – Inc42 Media|date=26 December 2016|work=Inc42 Media|access-date=18 May 2018|language=en-US}}
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.{{Cite news|title=Times Internet Scaling Down E-commerce Operations}} The company achieved success with MagicBricks, an online real estate platform launched in 2006 and iDiva, a women's lifestyle portal in 2009.{{Cite news|url=https://content.magicbricks.com/property-news/magicbricks-com-awarded-the-best-online-realty-portal/58736.html|title=Magicbricks.com awarded the best online realty portal|access-date=18 May 2018}}{{Cite news|url=https://economictimes.indiatimes.com/tech/internet/idiva-com-wins-2-million-hearts-in-6-months/articleshow/4673665.cms|title=iDiva.com wins 2 million hearts in 6 months|date=19 June 2009|work=The Economic Times|access-date=18 May 2018}}
= 2012–2019: Investments =
Times Internet made a series of acquisitions—buying majority stakes in MensXP in 2012,{{Cite news|url=https://economictimes.indiatimes.com/tech/internet/times-internet-acquires-mens-lifestyle-portal-mensxp/articleshow/17390674.cms|title=Times Internet acquires men's lifestyle portal MensXP|date=27 November 2012|work=The Economic Times|access-date=18 May 2018}} Cricbuzz, Coupondunia and Dineout in 2014,{{Cite news|url=http://www.cricbuzz.com/cricket-news/66587/times-internet-acquires-cricbuzz|title=Times Internet acquires Cricbuzz|work=Cricbuzz|access-date=18 May 2018|language=en}}{{Cite web|url=https://www.techinasia.com/india-times-internet-acquires-dineout-to-add-restaurant-reservations-service|title=Tech in Asia – Connecting Asia's startup ecosystem|website=www.techinasia.com|language=en-US|access-date=18 May 2018}}{{Cite news|url=https://www.indiainfoline.com/article/news/times-internet-acquires-majority-stake-in-coupondunia-5933236617_1.html|title=Times Internet acquires majority stake in Coupondunia|last=indiainfoline.com|access-date=18 May 2018|language=en}} Taskbucks in 2015,{{Cite news|url=https://www.vccircle.com/times-internet-acquires-majority-stake-taskbucks-15m/|title=Times Internet acquires majority stake in Taskbucks for $15M|date=16 November 2015|work=VCCircle|access-date=19 May 2018|language=en-US}} 'The Viral Shots' and WillowTV in 2016. In 2016, it also forged a strategic alliance with Haptik, an AI-enabled chatbot service.{{Cite web|url=https://techcrunch.com/2016/04/06/haptik-an-india-based-mobile-concierge-service-raises-11-2m-from-times-internet/|title=Haptik, an India-based mobile concierge service, raises $11.2M from Times Internet – TechCrunch|website=techcrunch.com|date=6 April 2016 |language=en-US|access-date=30 May 2018}} The company launched its startup accelerator, TLabs in 2012 through which it invested in upcoming digital startups like Delhivery, Pratilipi etc. Times Internet and Adstuck launched a joint venture Alive. Alive was an augmented reality browser to promote brands with print using augmented reality. {{cite web | url=https://www.afaqs.com/news/digital/36291_times-of-india-brings-the-newspaper-alive | title=Times of India brings the newspaper 'Alive' }}
Times Internet launched new digital products—Happy Trips in 2014,{{Cite news|url=https://www.exchange4media.com/Digital/Times-Internet-launches-travel-portal-HappyTrips.com_54652.html|title=Times Internet launches travel portal, HappyTrips.com|work=Indian Advertising Media & Marketing News – exchange4media|access-date=31 May 2018|language=en-US}} ET Money and NewsPoint in 2015.{{Cite news|url=https://economictimes.indiatimes.com/markets/stocks/news/et-moneys-big-billion-feat/articleshow/60822247.cms|title=ET Money's big billion feat|date=25 September 2017|work=The Economic Times|access-date=31 May 2018}} In 2015, Times Internet launched Samayam, a website that provides news in Tamil, Telugu and Malayalam languages.{{cite web|date=3 November 2015|title=Times Internet launches Samayam – digital news & infotainment brand in Tamil, Telugu and Malayalam – Exchange4media|url=https://www.exchange4media.com/digital-news/times-internet-launches-samayam-digital-news-infotainment-brand-in-tamil-telugu-and-malayalam-62223.html|access-date=16 July 2020|website=Exchange4media|language=en}} In association with HDFC Bank, it launched 'Times Points HDFC Bank Debit Card', an exclusive co-branded debit card in 2016.{{Cite news|url=https://www.indiainfoline.com/article/news-top-story/times-internet-associates-with-hdfc-bank-to-launch-%E2%80%98times-points-hdfc-bank-debit-card%E2%80%99-116081100715_1.html|title=Times Internet associates with HDFC Bank to launch 'Times Points HDFC Bank Debit Card'|last=indiainfoline.com|access-date=31 May 2018|language=en}} It also ventured into video streaming with Box TV Limited in 2012 but shut it down in 2016.{{Cite news|url=https://the-ken.com/story/times-internet-mx-player/|title=Times Internet acquires MX Player. For $200 million – The Ken|date=24 January 2018|work=The Ken|access-date=18 May 2018|language=en-US}}
In 2016, Times Internet built Colombia, an ad-tech network.{{Cite news|url=https://inc42.com/startups/times-internet-gautam-sinha/|title=Times Internet's Gautam Sinha On Turning A Legacy Media Company into A Conglomerate Of 37 Digital Startups – Inc42 Media|date=26 December 2016|work=Inc42 Media|access-date=30 May 2018|language=en-US}}
Times Internet launched ET Insure in February 2017,{{Cite news|url=https://economictimes.indiatimes.com/wealth/insure/times-internet-launches-etinsure-com-to-simplify-insurance-buying-claims/articleshow/56962174.cms|title=Times Internet launches ETinsure.com to simplifyinsurance buying, claims|date=4 February 2017|work=The Economic Times|access-date=18 May 2018}} BrainBaazi in February 2018, and ET Prime in April 2018. It acquired 'House of God' in December 2017{{Cite news|url=https://inc42.com/buzz/times-internet-house-of-god-spiritual/|title=Times Internet Acquires Spiritual Content Startup House Of God; Enters The Country's $40 Bn Religious Market|date=18 December 2017|work=Inc42 Media|access-date=18 May 2018|language=en-US}} and partnered with Tencent to invest $115 million in Gaana in February 2018.{{Cite news|url=https://www.bloomberg.com/news/articles/2018-02-27/tencent-is-said-to-lead-115-million-deal-in-india-music-startup|title=Tencent Is Said to Lead $115 Million Deal in India's Gaana|date=27 February 2018|work=Bloomberg.com|access-date=18 May 2018|language=en}}
On 28 June 2018, Times Internet acquired MX Player, the world's largest video player for $140 million.{{Cite web|url=https://techcrunch.com/2018/06/27/times-internet-buys-mx-player-for-140m/|title=India's Times Internet buys popular video app MX Player for $140M to get into streaming – TechCrunch|website=techcrunch.com|date=28 June 2018 |language=en-US|access-date=29 June 2018}} On 20 February 2019, Times Internet re-launched MX Player as a platform streaming movies, TV and web shows.{{Cite web|url=https://www.afaqs.com/news/story/54399_Times-Internet-to-launch-new-avatar-of-MX-Player-on-February-20|title=Times Internet to launch new avatar of MX Player on February 20|date=6 February 2019|website=www.afaqs.com|language=en-US|access-date=9 May 2019}}
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).{{Cite web|url=https://tech.economictimes.indiatimes.com/news/startups/mpl-secures-rs-250-cr-from-go-jek-arm-sequoia-india-times-internet/69016272|title=MPL secures Rs 250 cr from Go-Jek arm, Sequoia India & Times Internet – ETtech|last=www.ETtech.com|website=ETtech.com|language=en|access-date=26 April 2019}}
= 2020–present: Divestments =
In 2022, Times Internet sold its short video app MX Takatak to ShareChat for around $700 million in a cash-and-stock transaction.{{cite news |last1=Kalra |first1=Aditya |last2=Shah |first2=Aditi |title=India's ShareChat buys rival MX's short-video app in $700 mln deal, sources say |url=https://www.reuters.com/technology/indias-sharechat-acquire-local-rival-mxs-short-video-app-700-mln-deal-sources-2022-02-10/ |access-date=23 December 2024 |work=Reuters |date=10 February 2022}} This was followed by the sale of table reservation platform Dineout to Swiggy in an all-stock deal valued at $120 million.{{cite news |title=Swiggy buys Dineout from Times Internet in $120 million all-stock deal |url=https://economictimes.indiatimes.com/tech/startups/swiggy-acquires-restaurant-booking-platform-dineout/articleshow/91539111.cms |access-date=3 January 2023 |work=The Economic Times}} Later that year, it sold MensXP, iDiva and Hypp to e-commerce rollup company Mensa Brands for an undisclosed amount.{{cite news |title=Mensa acquires MensXP, iDiva, and Hypp brands from Times Internet |url=https://www.thehindubusinessline.com/companies/mensa-acquires-mensxp-idiva-and-hypp-brands-from-times-internet/article66284979.ece |access-date=23 December 2024 |work=BusinessLine |date=21 December 2022 |language=en}}
In 2023, after failing to find a buyer, the music streaming service Gaana was consolidated with another Times Group company Entertainment Network India Limited (ENIL) for a consideration of {{INR}}25 lakh.{{cite news |title=Radio Mirchi's parent acquires Gaana for Rs 25 lakh |url=https://www.financialexpress.com/business/brandwagon/radio-mirchis-parent-acquires-gaana-for-rs-25-lakhnbsp/3579372/ |access-date=23 December 2024 |work=Financial Express |date=10 August 2024 |language=en}}
In 2024, Times Internet sold MX Player to Amazon for around $100 million{{cite news |last1=Singh |first1=Manish |title=Amazon buys Indian video streaming service MX Player |url=https://techcrunch.com/2024/06/06/amazon-buys-indian-video-streaming-service-mx-player/ |access-date=23 December 2024 |work=TechCrunch |date=6 June 2024}} and ET Money to 360 One WAM for {{INR}}366 crore in stock swap and cash.{{cite news |title=360 ONE WAM to acquire ET MONEY in strategic move to strengthen wealth management services |url=https://www.moneycontrol.com/news/business/360-one-wam-to-acquire-et-money-in-strategic-move-to-strengthen-wealth-management-services-12747221.html |access-date=23 December 2024 |work=Moneycontrol |date=12 June 2024}}
Subsidiaries and products
class="wikitable sortable"
|+ List of digital products owned and managed by Times Internet (as of May 2019){{Cite web|url=https://timesinternet.in/|title=Times Internet: Everything. Everyday.|website=timesinternet.in|access-date=9 May 2019}} ! scope="col" | Product ! scope="col" |Description |
Ahmedabad Mirror
| News portal focused on Ahmedabad |
Bangalore Mirror
|News portal focused on Bengaluru |
Ei Samay
|News portal in Bengali |
The Economic Times (ET)
|Business and financial news platform |
ETimes
|Entertainment news portal |
{{anchor|Indiatimes}} Indiatimes
|News and infotainment platform |
Maharashtra Times
|News portal in Marathi |
Miss Kyra
|Entertainment, lifestyle, and fashion news portal |
Navbharat Times
|News portal in Hindi |
NavGujarat Samay
|News portal in Gujarati |
NewsPoint
|News aggregation portal |
Pune Mirror
|News portal focused on Pune |
The Times of India (TOI)
|News portal in English |
Vijaya Karnataka
|News portal in Kannada |
{{anchor|Samayam}} Samayam
|Infotainment and News portal in Malayalam, Telugu, and Tamil |
Astrospeak
|Astrology and horoscope service |
TimesProperty
| News portal for real estate industry |
BaaziNow
|Live video and gaming platform |
CouponDunia
|Deals discovery platform |
Cricbuzz
|Cricket infotainment platform |
Databack
|Data savings service |
Get Me a Shop
| Offline to online eCommerce service |
Happy Trips
|Travel guide and information portal |
MagicBricks
|Real estate listings and information portal |
Speaking Tree
| Spirituality platform and network |
Taskbucks
|Reward based discovery platform |
TechGig
|Technology platform and community |
Times Card
|Lifestyle focused credit cards |
Times Jobs
|Jobs listings portal |
Times Now
|TV news channel operating in India |
Times Prime
|Digital subscriptions platform |
Whats Hot
|Local guide to your city |
Willow
|TV channel focused on cricket broadcast |
Times XP Hindi
|Platform for Hindi news |
[https://www.newspointapp.com/ News Point]
|Content Aggregation Platform |
class="wikitable sortable"
|+ Former subsidiaries ! scope="col" | Product ! scope="col" |Description ! scope="col" | Note |
CricPlay
|Cricket Fantasy App |Defunct |
Dineout
|Table reservation service |Acquired by Swiggy |
ET Money
|Personal money management service |Acquired by 360 One WAM |
Gaana
|Music streaming platform |Acquired by ENIL |
MX Player
| Video player and streaming platform |Acquired by Amazon |
iDiva
|Women's lifestyle portal |Acquired by Mensa Brands |
MensXP
| Men's lifestyle portal |Acquired by Mensa Brands |
References
{{Reflist|refs=http://www.business-standard.com/article/news-ani/times-internet-to-cross-1000-crore-net-revenue-this-fiscal-116102501068_1.html}}
External links
- {{official website|http://timesinternet.in/}}
{{The Times Group}}
Category:Companies of The Times Group
Category:Online companies of India
Category:Privately held companies of India
Category:1999 establishments in Haryana