Media company NDTV has launched (pdf) Special Occasion, an online wedding and festival planning portal, reports VCCircle, and has raised an undisclosed amount of funding from US based CerraCap Ventures. The company has also appointed Sachin Singhal as the CEO of the planning and wedding platform. Vikram Chandra, the Group CEO of NDTV said that, “...Weddings is yet another business where we already have a high brand recall through our marquee shows in the space.” Note that Mint and VCCircle incorrectly report that Special Occasion has raised $20 million, where the BSE notification states that the company has received funding valuing it at $20 million. Ecommerce financials: Last month, NDTV’s ecommerce business reported revenues of Rs 4 crore for the quarter ended September 30, 2015, compared to Rs 2 crore in the same period last year. However on a sequential basis, ecommerce revenues fell 30.67% from Rs 5.77 crore. Digital arm financials: NDTV’s digital business reported revenues of Rs 26 crore for the quarter ended September 30, 2015, compared to Rs 20 crore in Q2FY15. It reported a profit of Rs 2 crore in Q2FY15 and no profit or loss in the current quarter. In September, NDTV Convergence signed a 3 year deal with content marketing firm Taboola expecting to make Rs 90-100 crore. Other developments at NDTV's ventures: - Gadgets 360°: In August, Gadgets 360°, a company which houses NDTV Gadgets, raised an undisclosed amount of funding from Paytm, Inflexionpoint, Pramod Bhasin and others, claiming a valuation of $50 million.…
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