Companies

Ybrant Digital to be called Lycos

K V Kurmanath Hyderabad | Updated on September 11, 2014

Lycos, the popular digital media company of yesteryears, is born again. The Hyderabad-based Ybrant Digital, which had bought the US firm in 2010 for $36 million, has decided to embrace the name of Lycos as it increases focus on digital media solutions.

The company, which has 500 employees and registered a turnover of Rs 1,700 crore in 2013-14, will be called Lycos Internet Limited after meeting the statutory obligations. It bought a number of firms, including IT services firm LGS. It, however, trimmed the staff last year, reducing the cost overheads to become a 500-staffer firm.

“We are going to focus on four areas of mobility, Internet of Things, distribution of television through Internet and Shopping window,” Suresh Reddy, Chairman and Chief Executive Officer, told Business Line on Thursday.

Justifying the change of name, he said they had conducted a survey that revealed that the brand still got good recall value in top markets. “It has become easier for us to talk to clients in the US when we say we are Lycos,” he pointed out.

He said the company was focusing more on the digital business. “We have registered a growth of 40 per cent in 2013-14 and contributed Rs 1,215 crore. Our profitability has gone up significantly at Rs 220 crore. We are expecting a growth of 30-40 per cent in digital business this year too,” he said.

He said the Lycos TV is currently doing beta testing of distribution of two channels.

Published on September 11, 2014

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