Bigadda.com targets e-commerce tie-upsSeptember 17th, 2008 - 6:40 pm ICT by IANS
Chennai, Sep 17 (IANS) With social networking sites likely to become the default landing pages for many Internet users, www.bigadda.com, the Internet social networking arm of Anil Ambani promoted Reliance Big Entertainment Pvt Ltd, is planning several e-commerce tie ups.”We are planning to tie up with business players like movie theatres, travel operators and others to offer ticketing facilities,” Shivanandan Pare, the chief operating officer of bigadda.com, told reporters here Wednesday.
“Initially there will not be any revenue sharing arrangement but if there is good response there will be sharing of revenues,” he said.
“Although in operation for the past one year, we decided to look at revenue possibilities only two months back,” he said.
Part of the Reliance Anil Dhirubhai Ambani Group (RADAG), Reliance Big Entertainment has invested around $12 million (Rs.480 million) in www.bigadda.com.
Declining to specify numbers, Pare said the site hopes to break even in three years time with revenue stream consisting of banner advertisements and e-commerce revenue.
Speaking about the revenue potential, he said around 70 per cent of Internet users in India have registered with a social networking site.
According to Pare, unlike other general sites, advertisers can do targeted advertising on social networking sites.
“People in the age bracket 18-34 are members of social networking sites. About 70 per cent of them are in the age band 18-27,” he said.
He said advertisers can target this segment to build their brand initially.
“While Orkut is the leader in India, Facebook and bigadda are fighting closely for the second spot in terms of unique visitors,” he said.
The site which already has a registered user base of 2 million, hopes to increase this number further by offering mobileadda where users will be able to network using the mobile phone.
“This is the first time anywhere in the world where a social networking site is being made available on the mobile phone,” said Nikhil Soman, chief technology officer.
While other networking sites use the email address book for reaching new members, bigadda.com is looking at the phone book in a mobile phone for the same purpose.
“More than the email address book, the mobile phone book is more relevant to the kind of people a person would like to be in touch with regularly,” Pare said.