Shivanandan Pare, Chief Operating Officer at Reliance BIG Entertainment Pvt Ltd (BIGADDA) has resigned, and today is his last day in office. Reliance Entertainment Digital COO, Manish Agarwal confirmed the development to MediaNama. Agarwal informs that Pare's move was following the company's decision to exit from the existing "Readers Offers" business model and rebuild the ecommerce business right from scratch; the company was mainly relying on Readers Offers, wherein it used to offer product deals through print advertisements. This was contributing 95%-98% to the company's sales, with monthly orders in the range of 22,000-23,000. However, when the company thought of streamlining its digital portfolio, it realised that it wanted to stick to pure play digital businesses and look at businesses that have a clear path to profitability. According to Agarwal, the Readers Offers business model had a long gestation period and to get profitability even to gross margin levels would have taken a substantial scale and required a big investment.So the company decided to move out from the segment and focus on pure play digital business, which gives higher scalability, a clearer path to profitabilty and sustainability. It isn't lost on us that BigAdda was, until a year or so ago, a social networking site, and a pure play digital business. Lay Offs: Meanwhile, we have also heard rumours of a massive lay-off at the company. Agarwal confirms that since 95-98% of business was being contributed to by the Readers Offers segment, it's obvious that positions would have to be…
- Digital India Act Consultation in Mumbai: Live updates May 23, 2023
- AI Companies Pushing for Regulation: Key issues discussed in the US Subcommittee hearing on AI oversight May 23, 2023
- Video: MarketsNama 2023, Delhi, 19th May May 22, 2023
- G7 Tech Leaders Reaffirm Commitment to Data Free Flows with Trust, India Observes on the Sidelines May 22, 2023
- Govt proposes amendments to Angel Tax, seeks to bring foreign investors under its purview May 22, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Is it safe to consider all "publicly available data" as public?
PhonePe launched an e-commerce buyer app for ONDC called Pincode. We, however, believe that it should also launch a seller app.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
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...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...