Media company HT Media is launching an online portal focused on education, Vinay Mittal, Chief Financial Strategist at the company said during its earnings conference call. This doesn't come as a surprise to us, since HT's Internet company FireFly E-Ventures had been handling sales for education portal StudyPlaces; FireFly was involved in talks for acquiring StudyPlaces before Educomp bought it for upto $1.5 Million. Update: following a comment (below) we checked for further updates. According to Educomp's subsequent filing, StudPlaces was acquired for Rs. 6.02 Cr, out of which Rs. 4.17 Cr was through preferential allotment of shares, and Rs. 1.85 Cr was cash. The launch of an education portal would actually be a change in approach from HT Media on the Internet: it usually tends to enter segments rather late: whether Go4i, Shine or the DesiMartini acquisition. It is still early days for the education segment online, and though it is crowded and has had at least one failure. However, HT intends to tread cautiously. Responding to a question on the company's Internet strategy on the call, Mittal said "We are very clear that we will keep making investments in the Internet, but we would cap them at not more than Rs. 30-35 crores of EBITDA losses per annum. It's not that one would go overboard. We have seen traction in Shine, and as we see more and more traction that comes through in Shine, and it becomes something that we are very sure will take off, then only…
- China state-backed hacking groups reportedly targeted India and other countries; here’s what we don’t know February 23, 2024
- Microsoft Announces Automation of Risk Identification Process for Generative AI Systems February 23, 2024
- IRCTC announces tie-up with Swiggy for food delivery services February 23, 2024
- MoS IT Rajeev Chandrasekhar accuses Google’s chatbot Gemini of violating IT Rules February 23, 2024
- Google releases open-source AI model called Gemma February 23, 2024
The Minister's response came after an X user posted answers generated by Gemini regarding Prime Minister Narendra Modi.
Vaishnaw said that in the next five years, there will be significant disruptions in the way telecom technology operates.
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...
The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...