NDTV Limited commercially launched Gadget 360, its new gadget e-commerce marketplace, at the Gadget Expo 2015 in Hyderabad on Saturday. Built on top of the group's existing gadgets news and reviews website NDTV Gadgets, the new gadgets ecommerce venture will leverage the gadget-buying community of 24 million unique visitors per month of its predecessor, NDTV group chief executive officer Vikram Chandra, told Business Standard.
Gadgets 360, had in August 2015, raised an undisclosed amount from investors including Genpact founder Pramod Bhasin, M&S Partners founder and director Hiro Mashita, Unilever former chairman Vindi Banga, Nikhil Vora of Sixth Sense Ventures, and former Apple CEO John Scully at a valuation of $50 million.
"We will be diluting less than 10% of equity to the investors. The proceeds are being deployed to build the Gadgets 360 site, team and technology," Chandra said.
"Gadgets 360 will offer hand-picked products, which will be available in the general markets after a week.
Clearly, we are delinking the editorial from the e-commerce," he added.
According to Kawaljit Singh Bedi, the managing director of Gadgets 360, the gadget ecommerce venture had so far partnered Chinese smartphone makers Gionee and Qiku, audio devices players Harman Kardon and JBL, and Alkatel, for exclusive sales on its online and mobile platforms. "Our idea is to sell 26 products, across smartphones, tablets, audio devices, fitness and productivity devices, in the next 12 months. We are looking at various tie-ups with the OEMs -- exclusivity for a week before the product availability in the general market, exclusivity through the life of the product etc," Bedi said.