HomeShop18 (TV18 Homeshopping Network) and Shop CJ Network have combined their businesses, the company informed BSE. This deal had been proposed back in September last year, with HomeShop18 wanting to acquire a 74% stake in Shop CJ. Following this deal, Shop CJ's shareholders will hold a 25% stake in the combined entity, and HomeShop18 will cease to be subsidiary of Network18 Media & Investments Ltd. However, Network18 will still be the majority shareholder in the combined entity. HomeShop18 said: We believe multiple synergies with respect to sourcing, marketing and delivery can be exploited through a combination with Shop CJ. It's worth noting that around the time Homeshop18 withdrew its $75 million IPO application to list on the New York Stock Exchange, its parent company Network18 had said 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.” Also note that at the end of Q1FY18, Network18 had said that HomeShop18 continued to face challenges due to decline in cash-on-delivery payments post demonetization, and “stiff competition from e-commerce”. However, the company added that the GST rollout was a positive for HomeShop18 since it will eliminate the issue of state entry taxes. “Management is keeping a tight leash on costs, and taking steps to revive the business.”
- 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...