Media Conglomerate NDTV has entered into the online wedding market by launching Special Occasion Limited, a new online wedding planning platform. The company has raised unspecified amount of funding at $20 Million Valuation led by US based venture capital firm CerraCap to start its new venture.
NDTV’s Special Occasion Limited is a platform that will offer all kind of solutions for wedding and festival occasions. The wedding sector in India is growing rapidly at the rate of 20 percent per year. Currently, 10 Million weddings happen every year in India. The festival spending is also huge in India, as there are number of festivals celebrated by Indians. NDTV wants to make its new venture a go-to platform for weddings and festivals occasions.
NDTV has appointed Sachin Singhal as the CEO of Special Occasion Ltd. Sachin Singhal has ten years of experience in startups sector in India. He had started his career with IT company TCS and also played important role in starting and scaling of Naaptol.com and some others.
Managing partner of CerraCap, Saurabh Suri said, “The wedding industry in India is a $40 Billion market which is highly disorganized and has operated the same way for decades. With India’s growing tech savvy populous; this market is ripe for disruption. Special Occasions has the right team, vision and platform to enable this disruption and be a leader in this space”
With this new venture, NDTV has made even stronger presence in the digital and eCommerce sector. As of now, the company has multiple eCommerce websites that includes Indianroots.com (ethnic wear portal), Gadgets 360° (portal for gadgets) and Fifth Gear Auto.