MAM
Forecast sees big payoff for Google’s mobile ads
MUMBAI: Google will sell more mobile advertising than the rest of its rivals combined for the second straight year, according to a new forecast that highlights the expansion of the internet search leader‘s moneymaking competency from personal computers to smartphones and tablets.
The report released on Thursday by the research firm eMarketer projects Google Inc will generate nearly $8.9 billion in mobile ad revenue throughout the world in 2013. The figure reflects the projected amount that Google will retain after paying commissions to its ad partners.
The prediction calls for Google to hold a 56 per cent share of the overall mobile ad market, which is expected to approach $16 billion this year. In 2012, Google accounted for 52 per cent, or $4.6 billion, of the worldwide mobile ad market, according to eMarketer.
Facebook Inc, the owner of the largest online social network, is expected to rank a distant second in mobile advertising this year with about $2 billion in revenue from phones and tablets, eMarketer predicted. Although still far behind Google, Facebook has been making rapid inroads in the mobile market. Last year, Facebook sold less than $500 million in mobile advertising.
The report marks the first time that eMarketer has released digital ad numbers spanning the entire globe. The firm‘s previous estimates, which are closely watched in the industry, have been confined to the US ad market.
eMarketer‘s figures are intriguing because Google doesn‘t disclose how much of its total ad revenue flows from the rapidly growing ad market. Google‘s success in mobile advertising stems from its ability to establish its internet search engine and other services, such as digital maps, Gmail and the Chrome browsers, as frequently used applications on mobile devices.
The company accomplished that largely by forging a partnership with Apple Inc when that company‘s iPhone came out in 2007. Google then baked its services into Android, a free operating system now running on more than 900 million mobile devices.
Android‘s success transformed Google into a competitive threat to the iPhone and iPad, prompting Apple to dump some of Google‘s services as built-in programs on those devices. But many iPhone and iPad users are still relying on Google products by installing apps on their Apple devices.
MAM
PwC India announces leadership change in Deals practice
Shashank Jain steps down as co-leader after nearly three decades with the firm.
MUMBAI: When one dealmaker steps off the pitch, another is ready to take the baton because in the fast-moving world of transactions, the game never really stops. PwC India has announced a leadership transition in its Deals practice, with Shashank Jain stepping down from his role as co-leader to pursue an opportunity in the industry. The practice will continue to be led by Mohit Chopra, ensuring continuity and sustained growth momentum.
PwC India partner and leader for advisory dinesh Arora paid tribute to Jain’s contributions. “We deeply appreciate the significant contributions made by Shashank over close to three decades he has spent with PwC, particularly his defining role in shaping and strengthening our Transaction Services practice in India,” he said. Arora highlighted Jain’s support for clients through some of the most complex and significant transactions in the Indian market, noting his deep technical expertise, sound judgment and nuanced understanding of the evolving M&A landscape.
The Deals practice remains a key growth driver for PwC India, and the firm expects continued expansion under Mohit Chopra’s leadership. He will continue to guide clients through complex transactions and transformational business moments, building on the strong foundation established over the years.
Reflecting on his journey, Shashank Jain said, “I have had an exceptional journey at PwC. I owe my growth and learning to the nurturing environment and leadership development that PwC provided.” He added that he had been working closely with Mohit and the larger team to ensure a smooth transition and expressed confidence that Chopra would take the Deals practice to newer heights.
From intern to respected deals leader, Shashank Jain has clearly closed many successful transactions and now, it seems, he’s ready to strike a new deal of his own.
