Facebook is not alone in focusing on the e-commerce market in India, where they recently launched Facebook Credits. Now a leading local player – BigAdda – has also sensed the increasing potential of the e-commerce market in the country.
Reliance’s social networking site BigAdda.com is transforming into a shopping portal and saying goodbye to its social networking operation. BigAdda Shop, which was launched as a pilot project earlier in April, has been doing exceptionally well. Today the company passed RS 20 million worth of gross transactions per month. In fact their e-commerce portal has seen the fastest ramp-up of orders compared to any other e-commerce player in India.
In a statement, Rohit Sharma, CEO of Reliance Entertainment (their digital business), said:
This is a conscious decision to transition BigAdda.com to the e-commerce business. We believed that the local social media platforms would do exceptionally well. However, local social media networks show no potential anymore, with the dominance of Facebook and other global players. We believe that the growth drivers of the digital space are e-commerce, gaming and video on demand (VOD).
However the website will continue to host a blog by Bollywood’s superstar Amitabh Bachchan. Sharma added:
Fans can continue to read the superstar’s blog daily on www.bigb.bigadda.com, as Big B’s blog has an identity of its own. So we’ll continue to connect Big B with his millions of fans across the globe.
It seems that BigAdda has made the right choice at the right time – and, fortunately for them, it is going pretty well so far.
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