MUMBAI, SEPT 16: After completing its first two years of operations this September, The Indian Express Online Media Ltd (TIEOML) has targeted a turnover of Rs 10 crore for the year ending March 1999. The company has already crossed Rs one crore in revenues during the first year and the revenues surged to almost Rs 3 crore in the subsequent year.According to R N Bhaskar, TIEOML's chief operating officer, this revenue comprises the largest revenue generation from among the various players in the growing internet business in India. TIEOML is a 100 per cent subsidiary of the Indian Express Group, one of India's largest media conglomerates.
Out 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 most popular sites in India. This website registers almost 2.5 million hits every day and provides current news updates round-the-clock apart from other general interest sections. It also providesaccess to The Indian Express Group publications, with an Archive section that covers one 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 comes 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," say Pradipto Basu, TIEOML's marketing head, "but the market for creating web sites exceeded all our expectations and we have grabbed the opportunity."
TIEOML 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 is from other products and services including The Morning Digest, which provides daily comprehensive news coverage in standardised and personalised formats. TIEOML also offers Dr Know sevices, afax-on-demand service, and hosts Cyber Cafes and Pubs in different cities. Future addition in these areas of activity, including a range of IVR products, is a prime focus of the company and strategic tie-ups are being firmed up on a global basis.
TIEOML is growing at a rapid pace and already employs over 100 people and has branches in the five metros. The company has won over 15 web-designing awards such as Best of the Web 1996 Gold Award and the Baylink medal for excellence.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.