Den Networks enters a JV with Snapdeal to launch TV channel!
Cable distribution firm Den Networks has entered into a 50:50 Joint Venture with online e-retailing firm Snapdeal to launch a market oriented TV channel.
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.
Den Networks has also plans to offer the broadband services in Delhi, Mumbai, Kolkata, Chennai, Pune, Lucknow and Ahmedabad and has invested around INR 250 crore in this project, reports Live Mint.
Indian cable TV distribution company, Den Networks offers its services over 13 Million homes. With this move, Snapdeal’s vendors are expected to get direct access to millions of households in one go.
The increasing competition and investors has led online retailers to come up with new strategies like category expansion, adding value added services, product addition, delivery mechanism and even much more.
Recently, in a new kind of partnership, Snapdeal and Tata Value Homes shook hands to start the real estate vertical of the eCommerce company to offer homes with INR 30,000 booking fee. Also, the company had secured an undisclosed amount from Tata Sons’ chairman Ratan Tata.