December 20, 2014 4:35:19 pm
Rupert Murdoch-led News Corp today announced acquisition of India’s financial advisory start-up firm
BigDecisions.com for an undisclosed sum.
“BigDecisions.com aims to help Indian consumers make smarter financial decisions through interactive, decision-making tools powered by sophisticated algorithms and data,” News Corp said in a statement.
Commenting on the acquisition, News Corp Chief Executive Robert Thomson said: “Our latest investment builds on our abiding belief that a digital India needs more trusted, reliable and independent data. BigDecisions.com will help Indians make the most important decisions by using accurate information tailored to their personal needs.”
BigDecisions.com was started in early 2013 by Manish Shah and Gaurav Roy.
“Following the acquisition, both co-founders will help oversee a significant expansion of the Mumbai-based BigDecisions.com team as well as its consumer offerings,” News Corp said.
Shah and Roy both will report to Raju Narisetti, News Corp Senior Vice President, Strategy.
The acquisition of BigDecisions.com includes the site’s parent company, FinDirect Services Pvt Ltd, the company added.
Last month, News Corp acquired 25 per cent stake in Indian realty portal PropTiger.Com for USD 30 million (Rs 185 crore) as part of its strategy to expand presence in digital media.
News Corp picked up the stake in Singapore-based Elara Technologies Pte Ltd, the parent firm of PropTiger.com.
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