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October 24, 2011, 4:46 am UTC
Poynt Corporation a leading provider of mobile local search services, and partner, Times Internet Limited (“TIL”), the internet and mobile venture of India’s largest media house - the Times Group, today announced the launch of their mobile local search application, timesPoynt (“timesPoynt” or the “App”) in India. The new App, developed by Poynt Corp. in partnership with TIL, will provide users in India access to the most locally relevant, GPS-enabled service that gives users the power of multiple applications in one intuitive mobile application.
A free application powered bydata from Timescity.com, timesPoynt will provide users in India with the ability to move beyond discovery of their local area to locate restaurants, nightlife, events, movie theaters and weather information. Like the flagship Poynt app, timesPoynt features the ability to allow users to click-to-call businesses, get directions, browse listing websites, send details to a friend or add listings to their device calendar or address book.
To monetize timesPoynt, the partnership plans to leverage the Times Group’s relationships in India with advertisers, agencies and merchants. It plans to market and promote timesPoynt through all its media vehicles such as radio, television, magazines and newsprint. This will be used to target the more than 858 million mobile subscribers in the country.
Poynt Corp. currently provides contextual and relevant advertising to users performing local queries and its revenue model is based on user queries, page views, advertising and transactions within the App. This model of highly contextual mobile advertising is expected to be rolled out in timesPoynt as ad inventories are built up over the next 12 months. Each user query generates several page views, which are monetized through display advertising and sponsored listings paid for by advertisers. These advertising placements generate revenues on a cost per thousand impressions (CPM) basis or on a cost per click (CPC) basis.
Increased users drive more search queries which have the ability to broaden the Company’s revenue stream, as user queries may be monetized in a variety of ways including highly targeted contextual and location-based advertisements.
Mr. Rishi Khiani, CEO of TIL said, “Timescity.com is growing aggressively on the web and we are now moving to the mobile space. Launching the App across all major smartphone platforms, we will leverage mobile to bring value to our users, merchants and advertisers.”
“Launching our app in one of the largest mobile markets in the world with the dominant media company in the country provides Poynt with an unprecedented opportunity to drive revenue growth and user adoption through timesPoynt,” said Andrew Osis, President & CEO, Poynt Corp. “The timesPoynt app further solidifies Poynt Corp. as a world class leader in the delivery of mobile local search and advertising.”
TIL is one of the fastest growing web-based networks in India and has emerged as the countries foremost web entity, seamlessly integrating content, community and commerce. Indiatimes.com, TIL’s flagship brand, is the largest Internet portal in India, receiving more than 1 billion page views per month.
timesPoynt is immediately available in India on iPhone, Android and Nokia devices, along with BlackBerry smartphones from the respective app stores.
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