Will Murdoch's News Corp re-enter Indian internet space with financial education website?
Murdoch's News Corp, that has largely stayed out of the growing Indian internet industry, may just be hunting for a new investment target.
In a bid to diversify into businesses other thannews, Rupert Murdoch-owned News Corp maybe planning to invest in Indian financial education site bigdecisions.in?
According to an Economic Times report, Murdoch's company is in advanced talks with the founders of the start-up for a strategic investment that could extend to taking a controlling stake in the company.
The startup is part of FinDirect Services Private Limited that was started by two former finance professionals Manish Shah and Gaurav Roy.
The duo have developed the website with an investment of Rs 50 lakh and the site comprises of videos and simple tools that help you decide on financial decisions like retirement planning, real estate purchase, funding education, home re-financing and insurance.
However, unlike many other financial planning websites, the site doesn't sell financial products and instead sends users to other online partners.
Murdoch's News Corp is reportedly on the lookout to increase its investments in India's burgeoning internet industry which it hasn't been a part of since earlier investments in sites like Indya.com and Bazee.com.
The group has been making investments into digital ventures in Asia but has made no major investments in any Indian internet ventures yet.