BigDecisions.com, which is a financial advisory startup firm based in Mumbai, India, has been acquired by News Corp led by Rupert Murdoch for an undisclosed amount. The same was announced by News Corp on Saturday.
According to a statement released by News Corp, "BigDecisions.com aims to help Indian consumers make smarter financial decisions through interactive, decision-making tools powered by sophisticated algorithms and data."
BigDecisions.com was founded by Gaurav Roy and Manish Shah in the early part of the year 2013.
"Our latest investment builds on our adding 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 for their personal needs," said Robert Thomson, News Corp Chief Executive commenting on the acquisition.
Following the acquisition, Roy and Shah will help in overseeing a significant expansion of the Mumbai based BigDecisions.com team as well its consumer offerings. They both will report to Raju Narisetti, News Corp Senior Vice President, Strategy.
The acquisition of BigDecisions.com by News Corp also includes FinDirect Services Pvt. Ltd. which is the website’s parent company.
As a part of its strategy to expand its presence in digital media, News Corp also acquired 25% stake in a Indian realty portal called PropTiger.com for USD 30 million (Rs. 185 Crore apporx). The deal was finalized just last month. The Rupert Murdoch led News Corp also picked up stake in PropTiger.com’s Singapore based parent company, Elara Technologies Pte Ltd.
Started in early 2013 by Manish Shah and Gaurav Roy, and operating until recently as bigdecisions.in, the BigDecisions.com platform has already helped some 40,000 users make better-informed decisions. 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. They will report to Raju Narisetti, News Corp Senior Vice President, Strategy.
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