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Videocon Telecom to log into ecommerce and mobile banking

Telecom service provider Videocon Telecom plans to foray into e-commerce and mobile banking businesses, even as the company said it does need additional licenses spectrum for expansion.

“We have chalked out our new roadmap to expand footprint in telecom related, non-licenced spectrum dependent new business lines in B2B (business to business) and B2C (Business to consumer) space,” Videocon Telecom Director and CEO Arvind Bali said here.

The company has a pan-India license for internet services, while it has also got licenced spectrum in seven service areas to provide mobile services. It is not participating in the ongoing spectrum auction, which on the first day itself saw bids worth Rs 60,000 crore on Wednesday.

Videocon Tele also plans to venture into mobile banking, recharge aggregation for mobile and D2H
service, along with its foray into e-commerce business. In our annual business plan for year 2015-16, we have factored into revenue from these new business streams.

There is a huge potential in the mobile wallet and e-commerce space. We are really impressed with the way player like PayTm has performed in the space...,” Bali said. When asked if Videocon is interested in buying stake in PayTm, he declined to comment on the same. Speaking here on sidelines of the World Mobile Congress, Bali said that under a new business venture, Videocon Tele has already started providing services. eyeing $60 mn additional funds
Online furniture retailer Urban Ladder is in talks with investors to raise $60 million fresh funds. According to market insiders, the Ratan Tata-backed firm has discussed the details of the funding with a clutch of investors including existing ones like Saif Partners. It is also in talks with Sequoia Capital who has pledged to lead the latest round of investment, they added.When contacted, Urban Ladder said, “We will not comment anything on fund raising.”
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