123Greetings.Com the pioneer in Internet Greeting Card / e-invitations for parties and ceremonies Services since 1996 operated by Intrasoft Technologies is going public / IPO next week. It will raise Rs 50o to Rs 536 mn in the offering. According to comScore Media Metrix derived from comscore.com certified on February 2, 2010, its Website was the largest (by number of Unique Visitors) electronic greeting cards website in India with the following statistics
- 15 million Unique Visitors during the twelve month period from November 2008 to October 2009
- 208 million page views
- 186 million minutes during this period
The company approximately generates 90% of its revenues from Advertisements with contracts ranging from from 1 month to 1 year which gives constant cash flow. The company reported revenues of Rs 105 mn for the first 6 months of this financial year. Approximately they’ll earn Rs 200 mn from Advertising, which in my opinion is a very good number w.r.t the visitors data.
Future Business Plans – The Company is exploring the possibility of offering online gift giving services on its Website by entering into ecommerce relationships with leading vendors in a variety of gift categories. Strengthening its distribution partnerships with major internet content and service providers through integration, co-branding and joint marketing programs.