Murdoch’s NewsCorp has acquired Indian firm BigDecisions.com based in Mumbai, setting off the trend to acquire more Indian web properties in the future.
The website BigDecisions.com, started in early 2013 by Manish Shah and Gaurav Roy, helps Indian consumers make their big financial decisions through interactive decision-making tools powered by innovative and advanced algorithms and data. It has claimed to have helped 40,000 decision makers in the last one year to make their smart financial decisions.
The acquisition of BigDecisions.com includes the site’s parent company, FinDirect Services Pvt Ltd and it NewsCorp’s second major acquisition in India after its acquisition of 25% stake in online real-estate portal, PropTiger.com for $30 Million.
Announcing the decision, Robert Thomson, Chief Executive of News Corp, said it would help provide a platform to deliver unbiased information and analysis to consumers on topics ranging from life and health insurance and retirement planning to providing for a child’s education or buying and renting real estate
“Our latest investment builds on our abiding belief that a digital India needs more trusted, reliable and independent data,” said Robert Thomson, Chief Executive of News Corp. “BigDecisions.com will help Indians make the most important decisions by using accurate information tailored to their personal needs. This platform will be high quality, privacy-protected and easy-to-use.”
Owned by Mumbai-based FinDirect Services Pvt Ltd., the BigDecisions.Com will focus on its expansion with NewsCorp’s acquisition and both Shah and Roy will report to New York-based Raju Narisetti, Senior Vice President, Strategy of News Corp. News Corp’s other operations in India include Dow Jones, The Wall Street Journal, Factiva and HarperCollins Publishers.
NewsCorp is on a spree of acquiring key domains in financial sphere and it owns Move, which runs the realtor.com website in U.S. NewsCorp also owns a 61.6% stake in REA Group Limited, which operates a major Australian residential property website, realestate.com.au.
Mr. Shah, an alumnus of IIM Ahmedabad, worked with Citigroup in India and the US, where he gained expertise in the unsecured lending, wealth management and mortgage businesses. In his last role, he was head of new initiatives with AEGON Religare Life Insurance.
Mr Roy, an alumnus of IIT Bombay and XLRI Jamshedpur, is into management consulting, financial services and technology, with work experience at Arthur Andersen, KPMG, Wipro, Bharti AXA, and AEGON Religare.
News Corp, which has bifurcated its visual medium Star TV two years ago has major presence in Indian tlevision channels vis its StarPlus and Starsports and Fox TV, besides into financing films of Bollywood, with their CEO Uday Shankar. The news media in India is under Narisetti, the former MINT editor. Both Uday Shankar and Narisetti were from the 1988-89 batch of the Times School of Social Journalism.