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E-RPG decelerates portal launches
Subhadip Sircar
Mumbai : The diversified Rs 6,500-crore RPG group which recently set up a separate company E-RPG Ventures as part of its New Economy initiatives has now decided to go slow as far as operations of the company are concerned. A senior company official told The Financial Express that a decision to this effect was taken after consulting management consultants and venture capitalists. Company sources had earlier told The Financial Express that E-RPG would launch three portals - one each on cricket, women, and a third of automotive components like tyres, batteries and accessories. But the RPG group think-tank seems to be having second thoughts after the recent spate of dotcom companies crashing. E-RPG has already aborted its plans of launching the women's portal which was expected to be operational by February 15, 2001.The staff recruited for the portal have been asked to look for opportunities elsewhere while some are being relocated within the group, according to company sources. The decision not to go ahead with the women's portal by the company is primarily due to the fact that the revenue models for women's portals are looking weak, according to a company official. The cricket portal -Fourth Umpire-has been launched but the company has kept it a low key affair with very little initiative on promotional measures. According to company sources,the group has adopted a wait and watch approach as far as E-RPG is concerned and are waiting for things to improve. The RPG group had set up E-RPG for the three specific portal businesses where the domain knowledge is scattered inside the group. It was also categorically decided that the portal businesses must be part and parcel of existing businesses. RPG already has various portals as part of its existing businesses. Ceat Financial Services has a portal FundsPark.com, which deals in government securities and debt instruments distribution. The group also has three music related portals in operation: Saregama.com, HamaraCD.com and Musicworld.com. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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