From MX TakaTak to Dineout: TIL properties that found new homes

Reports suggest that Times Internet (TIL) is in advanced talks with Amazon to sell its OTT platform MX Player. The e-commerce giant has appointed one of the Big Four accounting firms to perform the due diligence procedure.

TIL acquired MX Player in 2018 for an estimated $140 million, or Rs 1,000 crore then. Four years down, it has emerged as one of the largest OTT platforms in India.

TIL, the digital arm of The Times Group, operates several properties, like timesofindia.com, economictimes.com, navbharattimes.com, Times Card, Times Jobs, Speaking Tree, Cricbuzz, Times Prime, ET Money, etc.

Since the last year, it has been on a selling spree. It has already sold off MX TakaTak, Dineout, MensXP, iDiva, Hypp and Gradeup.

MX TakaTak: In February 2022, the short video platform merged with Moj, operated by Mohalla Tech, and the combined company came under ShareChat's control. MX Media and its shareholders became strategic shareholders of ShareChat. The newly formed entity has more than 100 million creators and over 300 monthly active users (MAUs). It was launched in July 2020 after the short video platform TikTok was banned in India.

Dineout: In May 2022, food delivery giant Swiggy acquired the dining out and restaurant tech platform. Founded by Ankit Mehrotra, Nikhil Bakshi, Sahil Jain and Vivek Kapoor in 2012, the company was acquired by TIL for $10 million in 2014.

MensXP, iDiva, Hypp: In December 2022, Mensa Brands, a D2C House of Brands, acquired MensXP, iDiva and Hypp. TIL had acquired MensXP in 2012. It was founded by entrepreneur Angad Bhatia in 2009. MensXP publishes male lifestyle-related content, iDiva caters to female users and Hypp is an influencer marketing management firm.

Gradeup: Last month, TIL informed its investors that it has sold its share in the edtech platform to BYJU’s. In 2019, Gradeup received $7 million in Series A funding from TIL. In 2021 BYJU’s acquired Gradeup and renamed it Exam Prep.