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NDTV ventures into online wedding planning with Special Occasion

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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:

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– 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.

IndianRoots: In the same month, NDTV’s ecommerce platform IndianRoots tied up with Government of Bihar’s Upendra Maharathi Shilp Sansthan to showcase the artisanship of Bihar’s handicraft makers. In July, IndianRoots partnered with Banka Silk to sell products made by local artisans of Banka district in Bihar. In May, the company had raised $5 million funding from KJS Group, claiming a valuation of $85 million.

In August, we’d reported that NDTV had also launched Fifth Gear Auto, a new auto portal which leveraged NDTV’s car and bike programming and raised funding. In June, the company had signed preliminary, non-binding term sheets with potential investors for new ecommerce portals in food, auto and gadgets.

In the wedding planning space, Special Occasion will compete with MyWeddingPlanning, WeddingPlz, WedMeGood (which raised over $400,000 in September) and PlanningWale.

Also Read:

The Marriage of Content, Curation and Commerce

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Govt sets up panel to implement ID proof and norms for matrimonial sites: report

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