MUMBAI: Reliance ADAG‘s social media portal Bigadda.com has gave in to the competition. The company today announced the discontinuation of the social media services.
Hereon, the portal will transform into e-commerce business, it said in a statement.
Big Adda claims a strong brand connect with youth in Tier II/III cities of India with 3.5 million of its subscribers out of 5.5 million registered users coming from the small towns of India. However, with popularity of Facebook and Twitter, it somehow could not manage to hold ground, experts believe.
Citing the reasons behind closing of the social networking, Reliance Entertainment (Digital Business) CEO Rohit Sharma said, “This is a conscious decision to transition Bigadda.com to e-commerce business. The digital space is dynamic and ever-changing. In 2007 when Bigadda.com was launched, social media networks were the next big thing in the digital space, and we believed that local social media platforms would do exceptionally well. However local social media networks show no potential anymore with dominance of Facebook and other global players.
He added that the growth drivers of digital space are e-commerce, gaming and video on demand (VoD). "We already have a strong presence in gaming with Zapak and jumpgames and VOD with Bigflix.com. With this transition we will cover the third growth driver as well," Sharma added.
Big Adda e-commerce operations have been operational since last three months in pilot phase and during these three months Big adda claims that it has witnessed fastest ramp up of orders compared to any recent e-commerce player in India. Big Adda has crossed Rs 20 million gross value transactions per month in June, and with its aggressive plans for the coming months, is poised to be one of the leading e-commerce players in Indian e-commerce space with its combination of readers offer and e-tailing business models, the company said.
Meanwhile, Amitabh Bachchan’s blog will continue on the site. Sharma said, "Fans can continue to read the superstar’s blog daily as BigB‘s blog has an identity of its own and will continue to connect Big B with his millions of fans across the globe."
