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Pocketing money

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deepavenkatraman

Posted: Mar 20, 2008 at 0054 hrs IST

Any 18-year-old would like to enjoy teenage pleasures—watch movies, party out and play sport, but this young and dynamic first-year BMM student chose to live his life a little differently. Samyak Chakrabarty of Jai Hind College had a burning desire to do something constructive, set up a Rs 20-crore company, Electronic Youth Media (EYM), with a little help from his friends.

It was not a cakewalk. Chakrabarty, recalling the industrialists they spoke to as potential investors, says, “We did not start the company for work experience but we wanted to tap into this lucrative market. Further the internet and digital communication industry is booming with India and China as its epicentre.”

The services of EYM, that comprises 104 students as employees, include a youth-related portal and a concept creation agency called Thinking Box. What sets it apart from other social networking portals is that it will be more user-friendly and productive. The dummy stock-talk link on the website enables one to get familiar with online trading. On the lighter side, there is a Go Clubbing link where one can get acquainted with the night clubs across the city. Chakrabarty says, “We shall be expanding to other metros as well within the next three months.”

This young lad’s parents are as proud as they can be. His mother, Ulupi, says, “He is in this position as he has only been pursuing his dreams.” His father, Sanjoy, says he’s only helped him build entrepreneurial thoughts.

The young professionals, all mass media and BBA students, are focused in pitching for clients that cater to youth-related products at Thinking Box. The services include creating media plans, brand image, direct to market strategies, Internet media buying and the like. Chakrabarty says, “Being young ourselves, we know their interests and attitudes. This helps in understanding the market and also cutting down market research cost.”

But the service that’s truly unique is the person-to-person outsourcing where the company provides personalised services online for those who living abroad. Some of them offered currently are online tuitions, payment of credit cards and chartered accountant consultations. Chakrabarty says, “People abroad rarely have time to do their personal jobs. There are some marketing agents appointed in Europe and USA who would be involved in networking. However, all our services will start in the next two weeks.”

So how do they get time to manage the entire company?

“After college we give all our time to this project. Since most of the operations are online, we coordinate the work from our respective homes,” Chakrabarty says. “We’re expecting revenue of Rs 60 crore in three years,” adds Chakrabarrty confirming all their employees are on the payroll.

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