Web 18, the digital arm of Network 18, has promoted Joyson Thomas as the CEO of Moneycontrol.com. He was one of the key team members responsible for setting up the website and was serving as the chief operating officer at Web 18 till now.
They will be in charge of the business results of the brands and the respective portal operations.
Both Thomas and Srinivasan will report to Lakshmi Narasimhan, CEO, Web18.
Speaking about the prospects of the online news business in India, Rajan says, "News propels a large part of the digital conversation today and will continue to do so in the future as well. Newer digital audiences, content formats and access devices keep this space exciting and fresh at all times."
Joyson further adds that the online news industry is India is definitely set to grow at an increasing pace: "However, this growth is going to come primarily from mobile and tablets, which I think will be the story of the future. We have already started seeing a lot of traction in our mobile users and we are going to start focusing on this medium in a big way."
Thomas began his career in 1989 at DSJ Communications and worked there for eight years till 1997. He later joined as a managing partner at Reliable Investment Options but shifted his base to the Network 18 Group by 1999 where he has served in different capacities.
Srinivasan also has two decades' experience. He began his career at Indian Express in space marketing in 1993 and worked there for three years. He then shifted to SET India for three years and also did a small stint as account manager at BBC Worldwide. He has also been with media2india.com and MTV Networks. Srinivasan joined Web 18 in the capacity of vice president, sales in 2007.
Moneycontrol.com provides financial news, information and advisory. It attracts over 15 million unique visitors every month across its web portal, apps and WAP services and over a million customers use its portfolio tool every day. Ibnlive.com is a general news and current affairs portal reaching over 9 million unique visitors every month. Both these digital publications are a part of Network 18.