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Newsflash: The Television Eighteen Group has acquired cricket portal CricketNext.com and CompareIndia.com, a product comparison portal. This follows its recent acquisition of Urban Eye, a Mumbai web design and consultancy firm, as reported by us last week. Financial details of the deals are undisclosed.
CricketNext might see a total makeover over the next few months. This follows just a few months after the promoters of Walchand CricketNext.com bought back 30% shares from Centurian Bank of Punjab. At that time, CricketNext.com was looking to raise $5million from strategic investors. The figures quoted in that (old) press release seem grossly exaggerated, at “750 million page-views per month and over 3.0 million unique users per day per match”. How does CricketNext compare to Wisden’s Cricinfo? Here’s Alexa on CricketNext and Cricinfo.
CompareIndia and CricketNext will go into TV18’s Web18 portfolio, and I think we might soon see an end to the KrishCricket plugs (or are they paid ads?) on channels from the TV18 network. Looks like Web 18 is being beefed up before an IPO, possibly by the end of this year.
Update: CNBC TV18 has just announced the acquisition of Urban Eye Studios, CricketNext and CompareIndia.com. Speaking to CNBC-TV18, TV18 CEO Harish Chawla said that CricketNext is the second largest cricket portal. TV18’s Internet business has grown six times in the last year, with moneycontrol.com among the largest financial portals in the world. There are both more acquisitons and new ventures in the offing from TV18. There were no comments on the financials, and whether the sites will run independently or be combined. CompareIndia.com allows users to compare prices of various products, and Chawla mentioned that they would be looking at either starting or acquiring transactional portals as well.
– TV18 Group Plans Venture Fund With A Corpus Of Rs 50 Crore
– Exclusive: TV 18 Group Acquires Mumbai Interactive Agency Urban Eye
– CricketNext.com Plans To Raise $5 Million From Strategic Investors