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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (10281)	12/24/1999 7:48:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

US group to invest $90 m in indiainfo.com Ashok Das (Hyderabad, December 24-HT) INTELLI INC (US) co-chief executive officer officer Raj Koneru on Friday said his group will invest 90 million dollars in the next 12 months in the e-commerce and portal company -indiainfo com. In an informal chat with newsmen here, Raj Koneru said "we have invested 10 million dollars in this ventureso far. We have made eight acquisitions in the last few months." "Indiainfo, com is not merely a portal. It is a company with portal service as one of its activities. We are building it as an e-commerce company, with focus on B2B (business to business) and B2C (business to customer) activities. We are going to promote e-commerce transactions, both on line and of line," he explained. "It is the most exciting project I am involved in," he said, referring to Indiainfo Com and unveiled plans to launch language portals in half-a-dozen Indian languages, including Hindi, Telugu, Tamil, Kannada and Punjabi. Replying to a question, he said that acquisitions meant more than eyeball penetration. "Eyeballs are not important, transactions are, "he quipped. "We are looking for a revenue of 10 million dollars by August 2000. Between 25 and 30 per cent of the revenues are likely to come from e-commerce and the rest from other services, web services will yield good revenues, the contribution of on line and will grow from less than five perc cent to 30 per cent,' he pointed out. Asked about the source of funds for fresh investments in India. he said "we are right now considering to bring in the funds. We will seek to tap venture capital." "We are considering Indian listing in early 2000 AD,' he pointed out and added that Morgan Stanley has been retained as advisor in this regard. "Internet is going to grow very fast," he forecast and parried questions about the emerging 'portal wars.' "We want to make India as a brand in the globla it market," he said. Raj Koneru is the Co-Eco of Intelli Inc, (US) is poised to register a turnover of 200 million dollars. The Intelli Inc has spun off its internet solutions business int6o a separate company, Sera Nova Inc with Raj Koneru as the Ceo. Earlier, Chief Minister N. Chandrababu Naidu launched new features on Indiainfo Com at a function. These include an auction site for Indians, on line stock trading for resident and NRIs, and a in-depth personalisation feature on user preferences.