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Thursday, September 17, 1998

Indian Express Online Media eyes Rs 10 crore turnover 

Our Bureau  
Mumbai, Sept 16: The Indian Express Online Media Ltd (TIEOML) has targeted a turnover of Rs 10 crore for the year ending March 1999. Set up two years ago, the company recorded a turnover of Rs 1 crore in its first year of operation. In the second year, the revenue leapfrogged to almost Rs 3 crore. According to company chief operating officer RN Bhaskar this comprises the largest revenue generation from among the various players in the growing Internet business in the country.

Of the current turnover, approximately 45 per cent comes from banner advertising sales on its website Net Express (www.expressindia.com) which has emerged as one of the country's more popular sites. This website registers almost 2.5 million hits everyday and provides current news updates round-the-clock apart from other general interest sections. It also provides access to The Indian Express group publications, with an archive section that covers a year's back issues. Net Express has over 100 advertisers including Intel, IBM, Citibank,Close Up, Godrej, ICICI, Shaw Wallace and Prudential Asia.

Another 30 per cent of the revenues come from web designing for clients such as Ispat, Kingfisher, Videocon, Ambassador group of hotels and Ceat. "We started off a full-fledged design and copy team only for in-house requirements," says company marketing head Pradipto Basu, "but the market for creating web sites exceeded all our expectations and we have grabbed the opportunity." It is also attracting international clients for web designing and is evolving as a team offering web-based marketing strategies to the clients.

The remaining 25 per cent of revenues comes from other products and services including The Morning Digest, which provides daily comprehensive news coverage in standardised and personalised formats. The company also offers Dr Know services, a fax-on-demand service, and hosts Cyber Cafes and Pubs in different cities. Future additions in these areas of activity, including a range of IVR products and strategic tie-ups are being firmedup on a global basis.

The company, a 100 per cent subsidiary of The Indian Express group, employs over 100 people spread over five metros. It has won over 15 web-designing awards like Best of the Web 1996 Gold Award and the Bayslink medal for excellence.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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