E-commerce media monitoring portal ClipByte is set to raise Rs. 5 crore via crowd funding
Riding on the wave of e-commerce bandwagon, India's first e-commerce media monitoring portal for television, print, internet and social media ClipByte.com is planning to raise Rs 5 crore via crowd funding among other options.
Media monitoring is on the rise in the business and political fraternity with public relations agencies and in-house communication professionals using this tool to keep a tab on their rival competitors, as well as to understand the campaign effectiveness, message penetration for their products and services.
The portal would be a step forward from the brick and mortar model and the prevailing practice in the media monitoring segment, said Jeetendra Murkute, Director, who has been in the media monitoring segment for over a decade.
“The portal, which will be a single dashboard, is currently undergoing trial runs and would be formally operational next month in November. It will facilitate users to view and download television clips from 150-200 channels, sitting in the comfort of their office or on the move,” Murkute said.
Murkute added, “The company plans to dilute 20-25% equity to raise funds for the portal that would allow registered clients to access any media monitoring data of their own including competitor’s news coverage as also options to generate various reports.”
The proceeds of the funds raised would be deployed largely in promotional activity of the portal to ensure that the brand ClipByte is demystified among the target audience, he said.
Monitoring and analysis of print media will commence in December 2014 while internet and social media monitoring would be available from January 2015.
The portal may rake in revenues of around Rs 210 million in its first year of operations once commissioned in November.
The rising investor interest in e-commerce portal follows the rising euphoria in this business which is expected to grow 7-fold to $22 billion in the next 5 years.