Network18 has now exited from HomeShop18 following with a fresh funding round of fundraising by the business component of home shopping in which none of the existing shareholders took part, the company revealed in a report.
As per the report, SkyBlue Buildwell has acquired 82.64% stake in the HomeShop18 for an undisclosed amount of sum, following which it has now become the holding company and promoter of HomeShop18.
HomeShop18 existing investor includes the SAIF Partners, GS Home Shopping South Korea, Network18Media & Investment, Providence Equity Partners, and OCP Asia and CJO Shopping did not participate in this transaction.
HomeShop18 had launched India first 24-hour home shopping channel in the year 2008 and also provided products across the various categories on its digital commerce platform.
Source: HomeShop18
