Times Internet Ltd, the digital media arm of the Times Group, has acquired men's lifestyle portal MensXP.com, for an undisclosed amount. Post acquisition, Times Internet will merge the two sites MensXP.com and Guylife.com, a portal already owned by Indiatimes, TIL CEO Satyan Gajwani told Techcircle.in.
"This is really exciting because we are not only bringing in a strong platform, but also bringing on board an awesome, entrepreneurial team who has a huge vision about the business," said Gajwani. "Times Internet is focused on great entrepreneurs who can take their businesses to the next level with our support," he added.
"The acquisition will help MensXP to realise its vision to become the de facto lifestyle platform for Indian consumers. I am happy that Satyan believes in our vision and together, we will aim to build something great," noted Angad Bhatia, founder and currently the business head of MensXP.com.
MensXP.com, run by the digital media company Xpert Media Technology Pvt Ltd, is one of the few Indian lifestyle portals catering to urban men, and features relevant topics, tips and advice. The site is updated daily with fresh lifestyle features.
Bhatia co-founded the company in late 2007 and it has worked with leading Indian and foreign firms on numerous digital media initiatives. It secured the first round of angel funding in September 2008 and has scaled up its operations since.
The company was also looking for funds to launch two new portals â€“ WomensXP.com, a women-centric content initiative, and atGadget.com, a technology portal. The current deal with Indiatimes is expected to provide enough funding for further expansion.
In June this year, Satyan Gajwani took charge of TIL as chief executive and this is the first acquisition of the company under his leadership. He had taken over from Rishi Khiani, who put in his papers at the company to pursue his entrepreneurial ambitions.
(Edited by Sanghamitra Mandal)