MAM
Times Group appoints Tribal DDB India as its digital AOR
MUMBAI: The Times of India Group has named Mudra’s specialist interactive unit – Tribal DDB India as its digital agency of record for Timesjobs.com and Timesmatri.com.
The agency will be handling the media planning, buying and creative duties in the internet space for both the portals.
The Times of India Group director R Sundar said, “Through Timesjobs.com and Timesmatri.com, we are in the process of redefining the manner in which recruitment and matchmaking take place in the online environment. We have a vision for the future for both these portals, which we hope to share with Tribal DDB India and to leverage their expertise in making this vision into a reality.”
Times Group vice president Rajeev Gaur said, “Both our brands- Timesjobs.com and Timesmatri.com are growing at an extremely fast pace and require careful nurturing, especially as far as their online communication is concerned. We have chosen Tribal DDB India for this purpose, based on their understanding of the medium, operational mechanism as well as passion to the medium, which we are sure, they will imbibe to both these properties.”
Tribal DDB India country head CVS Sharma said, “Our pitch for the account was based on an innovative ROI based media and creative strategy, that was felt to be in line with the requirements of both the brands. In our communication for the brands, we will be drawing on our expertise in the digital space to chalk out a winning strategy for the brands.”
Tribal DDB India national sales director Rammohan Sundaram said, “We would soon be introducing a couple of breakthrough ideas, which have never been deployed in India in our campaigns for the brands, which would enable top of mind recall for our target audience in the digital space.”
Brands
Flipkart completes reverse flip to India ahead of IPO
Walmart-owned e-commerce giant shifts domicile from Singapore to Bengaluru
MUMBAI: Flipkart has completed its restructuring to move its parent company from Singapore back to India, marking a key milestone as the Walmart-owned marketplace prepares for a potential initial public offering on Indian stock exchanges, ET reported, citing people aware of the matter.
The move, often referred to as a “reverse flip”, relocates the company’s legal home to India and aligns its corporate structure more closely with its largest market. It also clears an important regulatory step for Flipkart as it explores listing plans.
As part of the restructuring, several Singapore-based entities have been merged into Flipkart Internet Private Limited, which will now serve as the main holding company for the entire group.
The consolidation brings a number of major businesses directly under the Indian parent company. These include fashion platform Myntra, logistics arm Ekart, travel booking platform Cleartrip, healthcare marketplace Flipkart Health, and fintech venture Super.money.
Under the new structure, global investors including Walmart, Microsoft, SoftBank, and the Canada Pension Plan Investment Board will hold their stakes directly in the Indian entity rather than through an overseas holding company.
The redomiciliation required approval from the Indian government because Chinese technology company Tencent owns around a 5 to 6 per cent stake in Flipkart. Under Press Note 3, investments from countries sharing a land border with India require prior government clearance.
Flipkart had already secured approval from the National Company Law Tribunal in December. With the latest clearance from the central government, the company has now obtained all the regulatory approvals needed to complete the relocation, ET reported earlier.
Flipkart had originally shifted its holding structure to Singapore in 2011 to tap global capital more easily. However, as India’s capital markets have matured, several start-ups have begun returning their domiciles to the country ahead of public listings. Companies such as Razorpay, Groww, and Meesho have taken similar steps.
The company is now expected to move ahead with its IPO preparations and has begun early discussions with merchant bankers. According to people familiar with the matter, Flipkart could file its draft prospectus later this year, setting the stage for what may become one of the most closely watched listings in India’s e-commerce sector.
Flipkart has been majority-owned by Walmart since 2018, when the US retail giant acquired a 77 per cent stake in the company for $16 billion in one of the largest e-commerce deals globally.
