Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (917)	2/28/2000 8:53:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OT Planetasia Plans Global Expansion planetasia.com By Hari Menon India Correspondent, asia.internet.com [February 28, 2000--MUMBAI] Planetasia, a provider of Internet professional services, has announced expansion plans for their self-described role as "e-Transformation Technologists". Planetasia, which already has alliances with Intel, Microsoft and IBM, plans further strategic alliances and intends to set up another office in the US and two more offices in either Hong Kong, Singapore or London. The company, which has around a dozen international clients, offers B2B and B2C e-commerce solutions, portals, brands on the Web, application service provider solutions, knowledge management solutions, and after-market services. An IPO is expected to be floated soon, although Planetasia president Anand Sudarshan said that plans had not yet been finalized. The main promoters Microland will hold around 33 percent, other partners will hold around 50 percent, and the rest will be with employees. During the first round of funding, ICICI Venture picked up a 12 percent stake in the company for around US$750,000. In the second round, Chase Capital Partners picked up a 34 percent stake in the company for around US$2 million, while two new unnamed equity partners are in the process of acquiring an unspecified stake. The company, whose current valuation is around US$100 million, hopes to earn US$50 million in revenue over the next three years, and between US$120 million and US$150 million in another five years, said an industry analyst. In the high-value segment, the company has been hired for strategy consulting for a large supermarket chain, and has also worked with online brokerage houses to develop solutions for online trading. In the media segment, Planetasia has carried out strategy consulting projects for leading publication houses and is currently developing portals for three other clients.