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Times Internet (Indiatimes) acquires 50% stake in online book marketplace A1Books

Times Internet Limited (Indiatimes.com), a part of the Times Group, has acquired 50 per cent stake in Webnotions Books India, which owns an online book marketplace A1Books.co.in. US-based Webnotions was founded in 1995 by Shinu Gupta. The company entered India in December 2007.

Times Internet Limited (Indiatimes.com), a part of the Times Group, has acquired 50 per cent stake in Webnotions Books India, which owns an online book marketplace A1Books.co.in. US-based Webnotions was founded in 1995 by Shinu Gupta. The company entered India in December 2007.

As part of this investment, the Times Group will create value for A1Books by providing brand support to expand its growing market. On its part, A1Books shall make available over a million book titles on TIL’s Indiatimes.com and will in turn capitalize on the latter’s user base in India.

Dinesh Wadhawan, chief executive officer, Times Internet Limited, has said, “At TIL, we aim to partner with companies looking at creating sustainable competitive differentiation through focus on brands and technology. A1Books has a direct consumer-connect business.”

“India has had a strong untapped need for a marketplace with superior service which offers the best books at reasonable prices,” Shinu Gupta, founder and CEO, A1Books, has said. “With the support and resources of Times Group, we can focus on enhancing the customer experience and grow the online book market in India.”

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