TV18-SAIF to launch shopping channel, website

New Delhi, May 18: Broadcast news network Television Eighteen (TV18) today said it will launch a home shopping channel and an online venture in collaboration with SB Asia Investment Fund (SAIF).

The TV18 Home Shopping Network (HSN) will leverage the TV18 network of five channels-- CNBC-TV18, CNN-IBN, Awaaz, Channel 7 and SAW, and six internet properties-- moneycontrol.com, ibnlive.com, poweryourtrade.com, commoditiescontrol.com, yatra.in and Jobstreet India.

''TV18 believes that the time is ripe for a shopping enabler that integrates our media offering with a fulfilment capability. For the first time, by simply picking up the phone, clicking online, calling on their mobile, or simply 'sms'ing their requests, people will be able to access and buy products and services that exactly meet their requirements,'' TV18 CEO Haresh Chawla said.

''Although we typically do not invest in early stage companies, TV18 provides the company with the ability to quickly become a dominant force in the shopping space,'' SAIF partner Ravi Adusumalli said.

SB Asia Investment Fund is a 643 million dollar fund that is managed by Hong Kong-based SAIF Partners.

UNI