Moneycontrol.com turns 15!
moneycontrol.com turns 15 in the midst of a global digital revolution that is causing upheaval in its wake and yet holding out the promise of transforming the world for the better.
The website’s birth coincided with the worldwide dotcom boom in the late 90s when investors and users were still not clear as to what this new beast called internet was all about. What they agreed on was that the medium had the potential to transform the world and society in ways that could never have been imagined.
From the time when an internet connection was considered a luxury to the present when just about anybody can access the web from a mobile phone, it has been an eventful journey so far. A journey that saw moneycontrol not just outlasting most of its peers which had started around the same time, but also rising to the leadership position it currently enjoys among financial portals. moneycontrol started off by offering only stock prices (that too just closing prices, imagine!!!) and slowly kept adding tools, content sections, live price feeds and features to its bouquet of offerings, along the way.
moneycontrol today gets over 17 million unique visitors every month across all its platforms—web, mobile and tablets. To put that number in perspective, the total number of demat accounts in the country is roughly 25 million.
Our portfolio tracker today has around 2.5 million users, and our message board gets around 30,000 messages every weekday on an average. Says Santosh Nair, Editor – moneycontrol.com – “It gives us immense pride to say that many of the features and other offerings have been shaped by user feedback, be it as something as simple as the position of a ‘print’ icon on a web page, or some complex data relating to futures and options. At moneycontrol, we take user feedback seriously, and that is also one of the reasons that we have managed to constantly evolve over time.”
It would be fair to say that moneycontrol’s growth has paralleled that of the Indian stock market as it went through some really momentous changes, such as the introduction of rolling settlement, introduction of equity derivatives, a complete shift to demat, algorithmic trading, birth of a third exchange, and exponential growth in traded turnover, to cite a few.
The path ahead remains exciting even as it is challenging in equal measure. Despite the rapid growth in internet user base, India is still a long way off both in terms of the penetration of internet as well as bandwidth, when compared to developed countries. The total internet user base in the country is around 245 million, according to a recent study by the Internet and Mobile Association of India, which translates into roughly 20 percent penetration, compared to 70-80 percent in developed economies. This and the fact that financial awareness in the country and the proportion of savings that goes into capital markets are way too low means a huge potential for growing the family of moneycontrol users.
Santosh Nair adds – “Having come this far, it will be our endeavor to stay a step ahead in the game by doing what we always have in the past—an unwavering focus on user needs and an open mind to user feedback. We look forward to our users’ continued support and suggestions that will help us improve our offering.”