Business Daily from THE HINDU group of publications
Monday, May 28, 2007
ePaper
Business Daily from THE HINDU group of publications Monday, May 28, 2007 ePaper |
|
|
|
|
|
|
|
|
|
|
Home Page
-
Internet Info-Tech - E-Commerce & E-Business Corporate - Mergers & Acquisitions Buy a company — online Thomas K. Thomas
New medium A lucknow-based co is offering to sell up to 25% stake to bidders on ebay.in Bangalore-based Ingrid is listed on Rediff's auction portal for a complete sell out.
New Delhi May 27 Buying laptops and the latest gadgets from online e-commerce portals is passé. Now you can buy an entire company on online e-commerce portals such as eBay. For instance, a Lucknow-based cellular value added services company is offering to sell up to 25 per cent stake at a minimum rate of Rs 25,000 for a one per cent stake to bidders on ebay.in, the India specific portal (formerly Bazee.com). The company, which has not revealed its name on the portal, claims to be the fastest growing firm involved in providing services such as push SMS, two-way SMS, bulk SMS and mobile SMS software for the last 7 years. The company has offered shares to the first 48 highest bidders who are interested in investing in it. "Since the telecom value added services market has a lot of potential, we have decided to expand our business and get in direct competition with other major players which have a backing from international banks and MNCs. "As we have the technical potential to directly compete with them but need financial backing, we can expand the business in all major cities in India and implement new ideas," the company says on its Web page. Another firm called Ingrid, based in Bangalore, is listed on Rediff's auction portal for a complete sell out.
New to India
While the phenomenon is new to India, almost 10 Internet companies have sought buyers through eBay in the US. For example, search engine DigForIt.com was sold for $25,400 while SynapseLife, an online calendar and organisational site, was bought online for $60,000. Merchant bankers, who have traditionally handled mergers and acquisitions, said that the trend might not catch up in India. "Indians need to touch, feel and see things before they buy anything. Be it vegetables or be it companies. The volumes of sales happening out of e-commerce sites are therefore not very encouraging even for popular goods like mobile handsets and electronic gadgets. One is not sure if a buyer would want to acquire a company online," said a banker. While the Lucknow-based company has still not got a single bid on its offer despite being listed for more than a week, some of the companies in the US had got prospective buyers after being listed for a few months.
More Stories on : Internet | E-Commerce & E-Business | Mergers & Acquisitions
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
