Here is an interesting bit of news. The Times of India group (Bennet, Coleman & Co) has launched a property portal. It’s called MagicBricks.com. This has been a key classifieds segment which they hadn’t been present till now online.
MagicBricks.com claims to have an inventory of over 100,000 property listings from homeowners, developers, brokers and other professionals. It also has location map of important facilities in the neighborhood, virtual walk-through in the properties, and interviews with industry stalwarts. (I am sure they will synergise with their print products on properties).
In another significant move, Times Business Solutions – the company which owns various Times portals like TimesJobs.com and TimesMatri.com – have renamed their existing classifieds portal (TimesClassifieds.com) as Ads2book.com.
What is important is The Times Group is planning a massive advertising campaign to promote these sites. According to Exchange4media.com, Mudra Communications, Delhi, has won the Times Business Solutions account in a multi-agency pitch. The advertising budget is worth some Rs 30 crore (under $7 million). The incumbent agency was Bates India. The online ad agency has been Tribal DDB, the Interactive Media Division of Mudra, which helped the parent get the Times account.
TimesMatri.com was launched in November 2004, is a distant number four in the matrimonial sweepstakes. Ads2Book.com is the new enhanced version of TimesClassifieds.com and already has over two million registered users and over 50,000 ads active across 24 categories, says the story.