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JioCinema’s Business Head Ferzad Palia Soon To Quit

Inc42Inc42 · 9m ago
JioCinema’s Business Head Ferzad Palia Soon To Quit
Medial

Ferzad Palia, JioCinema’s business head, is reportedly stepping down after over two decades with Viacom18 Media. He will remain with the organization for a transition period to ensure a smooth handover. JioCinema declined to comment on the matter, but Palia, who joined in 2004, has been instrumental in the platform's growth. This development aligns with the anticipated merger of Reliance Industries’ media assets and Disney India, expected to complete by the end of the third quarter of FY25. The merger will create a joint venture between Viacom18 and Star India, potentially featuring over 100 TV channels and two major OTT platforms: Disney+ Hotstar and JioCinema. Recently, JioCinema reached 1.6 crore paid subscribers by the end of September 2024, driven by affordable plans and recording a 2X quarter-on-quarter growth. This strategic merger is expected to strengthen Reliance’s position in India’s media and entertainment sector.

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ShareChat appoints Google’s Neha Markanda as CBO

EntrackrEntrackr · 5d ago
ShareChat appoints Google’s Neha Markanda as CBO
Medial

ShareChat appoints Google’s Neha Markanda as CBO Social media platform ShareChat has onboarded Google’s head of industry and ecommerce Neha Markanda as chief business officer (CBO) for both its ShareChat and Moj platforms. Markanda will be stepping into Gaurav Jain’s role, who quit ShareChat in June. Entrackr had exclusively reported Jain’s departure on June 16. In her new role, Markanda will lead the company’s revenue strategy, boost growth and foster ties with stakeholders across India, said ShareChat in a press release. Earlier, she spearheaded Google India’s health strategy while also driving business transformation and AI-led solutions in both retail and health tech. “Neha Markanda’s expertise at brand building, deep understanding of problems that marketers face, the way brands measure return on spends, and proven ability to deliver business growth make her an invaluable addition to our leadership team,” said ShareChat co-founder Ankush Sachdeva. Having more than 22 years of experience, Markanda has previously served as Meta’s head of business marketing for three years. Her career also spans roles in GSK Consumer Healthcare India, HCL Technologies, and ITC Limited, among others. “I look forward to working with the talented teams here to further enhance our offerings and support the business growth ambitions of our partners…,” said Markanda. Earlier this year, ShareChat went through layoffs, reducing 5% of its workforce as part of a performance review cycle. In 2024, the company raised $65 million in debt across two tranches. It has raised around $1.3 billion from investors including Twitter (now X), Alkeon Capital, Moore Strategic Ventures, and Tencent, among others. ShareChat's operational revenue increased by 29.9% to Rs 718.1 crore in FY24 from Rs 552.73 crore in FY23. During the same period, the company's losses decreased by 41.4% to Rs 1,898.94 crore.

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