One of the India’s leading e-commerce retailer, Flipkart.com today announced its acquisition of digital media distribution firm, MIME360 (Manoramic International Media Exchange). With this acquisition, Flipkart will be able to utilise the advanced infrastructure of MIME360 for providing access to a large selection of downloadable digital content which it will soon introduce.
Speaking about the acquisition, Binny Bansal, COO & Co-founder, Flipkart.com said, “We are happy to bring on board the expertise of team MIME360. As we enter digital distribution by launching digital downloads on Flipkart, MIME360’s existing infrastructure around digital music will help us gain good foothold in this domain. We are confident that this move will further strengthen our focus on providing our customers the very best in every category.”
MIME360 was incubated at the Wharton Business School’s Venture Initiation Program (VIP) by Sameer Nigam in 2008. In early 2009 Rahul Chari and Burzin Engineer joined as co-founders to incorporate MIME360. The unique distribution model brings together content owners and publishers on a common platform, enabling them to expand their market globally. The company works at addressing issues associated with scale, security and transparency that limit global distribution of digital media & entertainment content.
Speaking more on the acquisition, Sameer Nigam, Founder & CEO, MIME360 said “We’ve always believed that a keen focus on customer satisfaction combined with a strong technology team can drive true market innovation. In Flipkart we’ve found a company that has adopted the same core values to achieve great success. By joining them, we now have a great opportunity to deliver exciting media products and services directly to end consumers in ways that we were unable to previously.”
At present, MIME360 has tie-ups with 50 content owners and 10 content publishers and currently has operations in Mumbai, India and Delaware, USA. Post the acquisition, the MIME360 distribution platform will stay totally independent and continue to service publisher clientele like Gaana.com, Saregama.com and In.com.
Category Investments News