HomeShop18 (TV18 Home Shopping Network) has posted a loss of Rs 174.91 crore for the financial year ended March 2015, up significantly from Rs 83.9 crore from the previous financial year. Revenues, however, increased 20.55% year-on-year (yoy) to Rs 443.87 crore from 368.2 crore. Note that this was a financial year when HomeShop18 filed and withdrew its IPO: In November last year, Homeshop18 withdrew its $75 million IPO application to list on the New York Stock Exchange, a few months after Network18 was acquired by Reliance Industries Limited. HomeShop18 had filed its IPO papers in April 2014. Some data: - Cumulative customer base of over 14.9 million, up from 9 million the previous year. - 2.5 million app downloads combined across Android, iOS and Windows platforms. - 30,000 transactions daily, of which 57% are from repeat customers. Network18 however hasn’t provided any split between HomeShop18′s TV and online business. - its call centre receives about 100,000 calls daily. Scaling down operations & Reliance Retail's plans In the annual report, Network18 says that: "Homeshop18 has strategically scaled down its digital home shopping business to leverage the potential in the TV home shopping segment, which it dominates with its innovative initiatives." In January, MediaNama had reported that Homeshop18's Bangalore ecommerce division was shuttered in November, and employees were given the option to join Reliance Retail. Around 100-125 employees had then shifted to Reliance Retail. At its peak, the company had around 300 people in the Bangalore office, though half them were consultants and largely in customer support roles.…
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