India's E-commerce company Snapdeal has formed a joint-venture with Den Netowrks- a Cable distribution firm, to launch a market oriented TV channel. Jasper Infotech, the holding company of e-retailing firm Snapdeal.com has entered into a 50:50 joint venture with Den Networks.
Den Networks is India's largest cable TV distribution company that serves 13 million homes in more than 200 cities in India.
The TV channel would be "used as a market place platform for facilitating the sale of branded and unbranded merchandise and services, including vouchers offered by third party sellers subject to necessary approvals," Den said.
The venture will leverage the robust distribution network of Den Networks and Snapdeal's will extend its reach to television home shopping audiences with its wide product range and more than 30,000 vendors.
Snapdeal would be first e-commerce company in India to have entered into television shopping market arena. TV shopping in India however is exist in India for years and HomeShop18 and StarCJ are key players of this market and both have witnessed sharp growth.
Recently, Snapdeal had also partnered with Tata Value Homes to start the real estate vertical of the eCommerce company to offer homes with INR 30,000 booking fee.
Snapdeal has raised $100 million in May this year and now recenlty news broke that Rata Tata is planning on making a personal investment in the e-commerce firm Snapdeal.
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