Lycos to launch products for connected homes
THE HANS INDIA |
Jul 27,2016 , 03:47 AM IST
Hyderabad: Lycos Internet Limited, a city-based publicly-listed digital marketing company, is looking at introducing a gamut of connected products aimed specifically at the living room.
“The new products, to be introduced by the company’s consumer division Lycos Life, are in the fine-tuning mode now. The launch of these products will take place within six months from now,” Lycos Chairman and Chief Executive Officer Suresh Reddy said, while declining to disclose further details.
Floated in June 2015, Lycos Life currently offers two of its Internet of Things-enabled suite of products the Band and the Ring along with Android and iPhone operating system-based apps. “Two more variants of these wearable devices are on the anvil,” Reddy said.
Stating that the company currently derives 80 per cent of its revenues from digital marketing and media and the rest from software services, he said Lycos Life would be the new revenue-generating area, which was now seeing an upsurge in marketing spend.
Lycos recently launched Brightcom, a global advertisement technology company that provides multi-channel products and proprietary programmatic solutions for advertisers and publishers across video, display, social and mobile channels.
“Brightcom will target the entire digital marketing space, which is pegged at a staggering $190 billion globally and $20 billion in india,” Reddy said, adding that the company had put its proposed $100-million fund-raising plan on the back burner.
Lycos Internet (formerly Ybrant Limited) has so far received close to $100 million from Oak Investment Partners, GE Asia-Pacific Capital and Sansar Capital Management LLC. While the promoters’ group hold 39 per cent and the three investors hold 27 per cent, the remaining lies with the public. “We are in talks with some investors to facilitate exit to the existing investors,” Reddy said.
Lycos has clocked a net profit of Rs 400 crore on a topline of Rs 2,200 crore in the last financial year. It expects a 25 per cent growth this fiscal, primarily on account of the headway it is making in the digital marketing space. Lycos Internet Limited’s scrip ended the trade at Rs 13.80 on the BSE on Tuesday, down 4.50 per cent, over the previous close of Rs 14.45 apiece.
By K Rajani Kanth
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