Times Internet acquires Moneysights

Moneysights founded in 2009, by ex employees of InMobi, Mukesh Kalra, and Santosh Nalvani, was a digital platform where one could buy and manage investments products. In 2012, however, the platform had to close its operations due to lack of funding. Moneysights had earlier raised funds in June 2011 and Times Internet now buys it.

Times Internet is a unit of Bennett and Coleman and Co Ltd. was established in 1999 and operates a portfolio of web and mobile properties that engage millions of users globally. It is currently not clear whether Times Internet plans to revive Moneysights as a separate service or integrate the service to its existing properties like The Economic Times. It is not clear that whether Times Internet plans to keep Moneysights branding.

Moneysights will compete with Aditya Birla group MyUniverse that has a tie up with Network 18 financial information portal Money Control. Online insurance policy aggregator Policybazaar had also launched a financial advisory services platform called Paisabazaar in August this year. The platform sells loans, credit cards, and mutual funds among others.

In previous acquisitions, Times Internet had acquired a majority stake in coupon marketplace CouponDunia in May this year and had merged its deals site with TimesDeal with the company. It had also acquired restaurant-booking service DineOut in April this year. This was after TimesCity had tied-up with DineOut last year to offer table-booking service. it had also acquired Musicfellas.com an online market place for independent artists to sell their songs in February this year.

Times Internet had also invested in shorts, a mobile app for short top stories. It had also funded GradeStack, an online course for students. It also backed Skift.com, a New York based travel intelligence and information portal. Times Internet is a part of The Times of India Group.