Sabeer Bhatia, the creator of Hotmail, which was sold to Microsoft for $400 million in 1998, has formally launched his new venture – AMP Technologies.
The mission is to provide real estate asset managers with a software platform to provide critical investment performance analytics. This should help clients in making better business decisions. Real estate companies such as Irvine, Hudson Pacific Properties and Arden Realty in the US have already started using the platform, Bhatia told newspersons.
The platform is a set of products and services for commercial real estate investors, owners and operators. They aggregate and access critical investment information from any personal computer, laptop, table PC or mobile device.
Bhatia said the idea to form AMP was born from “our own” frustration with lack of information while searching for data on the real estate market.
AMP recently opened a 250-seat facility in Chennai to focus on future information technology development. The centre will also deliver lease administration, finance and accounting and due diligence services using the platform.
Neel Naicker, CEO, AMP Technologies, said the company would recruit 1,000 more employees by the end of 2015 from the current 100. This is to service commercial real estate investors, owners and operators globally, he said.
AMP’s current products include AMPIntelligence, a financial reporting dashboard; AMPLease, a tool to analyse lease data and AMPFiles to store, search and access critical documents and legal agreement documents from any mobile device, he said.