Moneycontrol.com is a business news portal and digital property published by E-Eighteen.Com Limited (EECL),[1] which, in turn, is a subsidiary of the Reliance Industries-owned Network 18 group. Moneycontrol was initially founded in November 1999 as a news portal providing information on personal finance, stocks, and other market news. The website was incorporated into the Network 18 group in March 2000.[2]
It was originally started in 1999 by husband-wife duo Victor Fernandes and Sangeeta Fernandes, along with Mohit Batra,[3] the founder of marketsmojo.com,[4][5] and several others.[6]
Its popularity, immediately after its November 1999 launch, had led to Raghav Bahl buying the ownership of the portal from Fernandes on 28 March 2000, through a swap deal that gave Victor and Sangeeta Fernandes and the founding team of moneycontrol a 7.5 per cent share in Network18's e-Eighteen subsidiary.[1]
Network 18, which was originally founded by Raghav Bahl on 16th February 1996 as SGA Finance & Management Services Private Limited,[7] also owned the Indian arm of CNBC at the time that it took over moneycontrol in March 2000.[8] TV18 had been launched by Bahl in September 1993 as Television Eighteen India Private Limited and together with CNBC, it became the CNBC-TV18 that was incorporated along with moneycontrol into Bahl's Network 18 group.[8]
By 2011, following its near two-decade long expansion and acquisition, Network 18 was reported to have run up to losses and to have incurred a debt of Rs 1800 crores[8] and the Network 18 group failed to obtain additional loans from banks. Reliance's Independent Media Trust provided a loan to Network 18 in February 2012, and in May 2014, moneycontrol.com, along with the other media properties that were under Network 18, such as Forbes India magazine and Firstpost.com, along with CNBC-TV18, all became part of the Reliance Industries–owned group[9] that now wholly controls Network 18.[10]
In 2019, the Securities and Exchange Board of India (SEBI) ruled out an appeal filed by moneycontrol's original founders Victor and Sangeeta Fernandes who had asked SEBI to investigate the 2014 Reliance Industries takeover of Network 18 and had questioned whether RIL had been exercising indirect control over Network 18 even prior to the formal takeover. However, according to the final SEBI verdict, no open offer had been needed over RIL's ownership takeover due to various agreements involving the investment of funds into Network 18 from RIL's Independent Media Trust.[11]
In 2022, moneycontrol won the India Content Leadership awards in the "best news app" and "best business app" categories.[12] It had also announced publicly, through an advertisement in Hindustan Times, that it had recorded a higher readership than its competitor Economic Times through unique visitors, average time spent and other key traffic parameters on its website.[13] In the same year, E-Eighteen.com saw a surge in its revenue growth by 34 per cent and a rise in its subsequent share value.[1]
^Moneycontrol takes on Economic Times in a Print Ad. bestmediainfo.in. 19 April 2022.
August 19, 2023
moneycontrol, business, news, portal, digital, property, published, eighteen, limited, eecl, which, turn, subsidiary, reliance, industries, owned, network, group, moneycontrol, initially, founded, november, 1999, news, portal, providing, information, personal,. Moneycontrol com is a business news portal and digital property published by E Eighteen Com Limited EECL 1 which in turn is a subsidiary of the Reliance Industries owned Network 18 group Moneycontrol was initially founded in November 1999 as a news portal providing information on personal finance stocks and other market news The website was incorporated into the Network 18 group in March 2000 2 moneycontrolTypeBusiness news site 1999 FormatWeb portal 1999 Owner s Reliance Industries LimitedPublisherE Eighteen Com Limited EECL a Network 18 subsidiaryLaunched5 November 1999 23 years ago 1999 11 05 LanguageEnglishHeadquartersMumbai Maharashtra IndiaCityDelhi IndiaWebsitewww wbr moneycontrol wbr comIt was originally started in 1999 by husband wife duo Victor Fernandes and Sangeeta Fernandes along with Mohit Batra 3 the founder of marketsmojo com 4 5 and several others 6 Its popularity immediately after its November 1999 launch had led to Raghav Bahl buying the ownership of the portal from Fernandes on 28 March 2000 through a swap deal that gave Victor and Sangeeta Fernandes and the founding team of moneycontrol a 7 5 per cent share in Network18 s e Eighteen subsidiary 1 Network 18 which was originally founded by Raghav Bahl on 16th February 1996 as SGA Finance amp Management Services Private Limited 7 also owned the Indian arm of CNBC at the time that it took over moneycontrol in March 2000 8 TV18 had been launched by Bahl in September 1993 as Television Eighteen India Private Limited and together with CNBC it became the CNBC TV18 that was incorporated along with moneycontrol into Bahl s Network 18 group 8 By 2011 following its near two decade long expansion and acquisition Network 18 was reported to have run up to losses and to have incurred a debt of Rs 1800 crores 8 and the Network 18 group failed to obtain additional loans from banks Reliance s Independent Media Trust provided a loan to Network 18 in February 2012 and in May 2014 moneycontrol com along with the other media properties that were under Network 18 such as Forbes India magazine and Firstpost com along with CNBC TV18 all became part of the Reliance Industries owned group 9 that now wholly controls Network 18 10 In 2019 the Securities and Exchange Board of India SEBI ruled out an appeal filed by moneycontrol s original founders Victor and Sangeeta Fernandes who had asked SEBI to investigate the 2014 Reliance Industries takeover of Network 18 and had questioned whether RIL had been exercising indirect control over Network 18 even prior to the formal takeover However according to the final SEBI verdict no open offer had been needed over RIL s ownership takeover due to various agreements involving the investment of funds into Network 18 from RIL s Independent Media Trust 11 In 2022 moneycontrol won the India Content Leadership awards in the best news app and best business app categories 12 It had also announced publicly through an advertisement in Hindustan Times that it had recorded a higher readership than its competitor Economic Times through unique visitors average time spent and other key traffic parameters on its website 13 In the same year E Eighteen com saw a surge in its revenue growth by 34 per cent and a rise in its subsequent share value 1 References Edit a b c Moneycontrol E Eighteen Com Limited Unlisted Shares stockify net MoneyControl Startup Story Byte Man 18 July 2020 Moneycontrol s founding team starts MarketsMojo to make equity investment mainstream Sindhu Kashyap yourstory 2 November 2016 Link unavailable How Mohit Batra looks to stand apart in PMS field Abhinav Kaul Livemint com 28 November 2022 Our goal will be to go public within the next three years Mohit Batra Puneet Wadhwa Business Standard 30 November 2022 TV18 implements cross programming between CNBC moneycontrol com exchange4media com 14 April 2001 Network 18 Media amp Investments Company History moneycontrol com a b c Who owns your media Network18 s journey from a production house to a broadcast behemoth Pooja Bhula newslaundry com 19 July 2023 A New Headache for Raghav Bahl Gurbir Singh Businessworld 08 November 2014 Inside the Network18 Takeover Ashish K Mishra Livemint com 23 June 2014 Network 18 case SEBI says no open offer needed on investments involving IMT Business Standard Press Trust of India 15 November 2019 India Content Leadership Awards Moneycontrol takes on Economic Times in a Print Ad bestmediainfo in 19 April 2022 Retrieved from https en wikipedia org w index php title Moneycontrol com amp oldid 1171037352, wikipedia, wiki, book, books, library,
