Handygo eyes 50 lakh users for ebook app by March end
"The ebook market in India is pegged at about Rs 10,000 crore. We see a lot of opportunity in this segment and expect Rock Stand to have 5 million users by April 1, 2013," Handygo Technologies CEO Praveen Rajpal said.
Rock Stand has a library of over 2,00,000 books and magazines, he added.
Handygo has partnered with ebook publishers from India along with about 15 international publishers for the application.
"We are aggressively acquiring multi-lingual books and titles like German, French, Chinese etc. Our top priority languages are Hindi, English and other regional languages of the country," he added.
On their online shopping application ¿ RockASAP Retail, Rajpal said the company has invested USD 10 million in developing it and are planning to invest USD 20 million more to add features like "location based tagging and experiential marketing activities".
On investments made in Rock Stand, he said, "Doing exact split of investment will not be possible. However, it will be approx 40per cent of the amount invested in RockASAP".
For RockASAP, Handygo aims to have about 3 million visitors.
"India's online shopping market size is about Rs 50,000 crore and we have set our initial targets to acquire 1 per cent of the market," he said.
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