MAM
Fork Media and Ziff Davis announce Mashable India
MUMBAI: Fork Media, India’s fastest growing publishing and ad tech media company, announced a new agreement with Ziff Davis, the digital media company with market-leading positions in the technology, entertainment, gaming and shopping categories, to operate Mashable India (in.mashable.com). The expanded partnership builds on Forks’ existing operation of other Ziff Davis brands, IGN and AskMen, in India.
Mashable is obsessed with culture and tech, offering smart, spirited coverage of the products and innovations that shape our connected lives and the digital trends that keep us talking. A recognised authority in tech, social and digital culture, Mashable’s audience believes in taking action to shape a better future. One of the most prominent and premium brands in media, Mashable became a Ziff Davis brand in 2017.
Mashable India will curate and localize the best of Mashable’s delightfully offbeat global content, while adding originally created unique content specifically produced for the Indiamarket.
Fork Media has emerged as India’s most talked about digital media company, winning the Deloitte Technology Fast 50 India & APAC, FT 1000 High-Growth Companies APAC, and India Emerging Global 20 awards. Founded in Mumbai in 2013 with offices across India, Southeast Asia and the Middle East, Fork’s brand-first philosophy, authentic branded content solutions and multi-screen platform reaches an audience of more than 100 million users per month.
Samar Verma, CEO of Fork Media, said:
“We’re excited to expand our partnership with Ziff Davis, having developed real traction with IGN and AskMen, we view Mashable as a game changer to our content publishing business. We believe Fork Media can drive Mashable India to its true potential with our integrated content, sales and marketing approach.”
Adam Doree, on behalf of Ziff Davis, said: “As a new chapter for Mashable’s international expansion begins, Ziff Davis will be working with the very best media companies in the world as its partner operators – both existing and new to our partner group. In India, our partners at Fork Media are building a world class media company and their values are a perfect match for Mashable India.”
Ziff Davis’ international profile represents a rare opportunity to reach a truly global audience, offering both scale and local relevance in every major territory worldwide. Ziff Davis’ world map can be seen at: http://world.ziffdavis.com. Operation of Ziff Davis’ PCMag.com in India continues under itsseparate partnership with Times Internet Ltd.
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.
