Anupam Mittal, Founder and CMD of the People (Shaadi) Group has told Mint that they’re considering listing on Naddaq or in the Indian markets in 2009, in order to finance acquisitions in online classifieds and communities spaces. The group had raised $18 million from Sequoia Capital – $8 million for People Interactive and $10 million for People Infocom (Mauj). Two thirds of the company’s revenue come from the Internet business (People Interactive), while one-third is from mobile VAS co Mauj. Mittal is targeting revenues of $70-80 million by 2010: $60-70 million from People Interactive and Mauj, and $8-10 million from the third group company – People Entertainment. Info Edge (Naukri) had listed earlier this year – effectively raising the stakes for the classifieds business, and MakeMyTrip intends to list in 2008.
Over the next few months, the People group plans to add mobile products to its online services, over voice, WAP, and SMS. Makaan already has a mobile service via GPRS and SMS; a voice service for Shaadi.com is currently being tested. Mauj is looking at expanding into the West Asia and Africa markets, and has recently tied up with an operator in West Asia. The company had recently announced a tie-up with Mobile ESPN, for providing ESPN content on mobile via a WAP zone, and also integrated services with the Mauj short code 3776. (via release)
{"source":"https:\/\/gigaom.com\/2007\/08\/27\/419-people-group-plans-2009-listing-targets-revenues-of-around-80-million-b\/wijax\/49e8740702c6da9341d50357217fb629","varname":"wijax_562f4cacebda6c553ce52c845d635e25","title_element":"header","title_class":"widget-title","title_before":"%3Cheader%20class%3D%22widget-title%22%3E","title_after":"%3C%2Fheader%3E"}