INDIA BUSINESS WORLD - August 1st - August 31st - 2008
TIMES INTERNET LIMITED (TIL) PICKS UP 50% STAKE IN WEBNOTIONS
TIMES Internet Limited (TIL), a part of India's largest media house (Times Group), has recently made a strategic investment, equivalent to 50% stake, in Webnotions Books India Private Ltd. Webnotions has entered India as the largest online book marketplace under the brand www.a1books.co.in. Webnotions USA was founded in 1995 by Shinu Gupta. It is based in Netcong, N.J. and has 70 employees. The India branch based in Noida, UP, commenced operations in December 2007.
As part of this investment, the Times Group will create value for A1Books by providing brand support to expand its growing market. A1Books shall make available over a million book titles on TIL's indiatimes.com and will in turn capitalise on the latter's huge user base in India. A1Books brings in its book-focused technology platform where Indian book publishers, distributors, importers and retailers can register and sell their inventory.
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