E-cards maker IntraSoft eyes 25% market share by FY 14 -Governance Now

E-cards maker IntraSoft eyes 25% market share by FY 14

With the advent of technology e-cards are a lot more vivid and interactive

PTI | May 23, 2011

Upbeat on the penetration of the Internet in the country, e-cards maker IntraSoft Technologies, which owns 123Greetings.com, is eyeing a 25 per cent market share by FY'14, a top company official has said.

"With the advent of technology, e-cards are a lot more vivid and interactive. This has made e-cards more entertaining and personal than physical greeting cards. The penetration of the Internet is further catalysing the growth of this industry. Hence, we are targeting a 25 per cent market share by FY 14," IntraSoft Managing Director Arvind Kajaria told PTI here.

At present, the Indian e-card market is estimated to have around 100-million users and is growing by 12-15 per cent every year.

"Internet penetration is increasing by around 12-15 per cent every year. We expect the e-greeting market to grow in the same proportion and we see this as an opportunity for growth of our business," he said.

Currently, the company enjoys 18-20 per cent market share, or 20-million e-cards, with its major competitor being Archies e-cards, he said.

The company has had around 90-million online visitors at www.123greetings.com so far.

"We are currently witnessing 70 per cent of business coming from the US, followed by 28 per cent from India and rest from Far East countries. But now we are reducing our dependence on the US market and focusing on emerging markets like India," Kajaria said.

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