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Non-Tech : ICICI Ltd - (Nyse: IC)

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To: Mohan Marette who wrote (101)2/10/2000 8:14:00 AM
From: Mohan Marette  Read Replies (1) of 494
 
Jaldi.com aims $1mn turnover this year-Collaboration with ICICI

10-02-2000 17:16:10

Jaldi.com, an Indian business-to-consumer shopping and finance portal is now providing its customers with access its website using cellular phones. "We are the first Indian shopping portal to offer this facility and one of the first amongst all Indian websites," said Kumud Goel, Managing Director of KLG Systel which holds 55% in Jaldi.com.

The portal was launched last month and offers online shopping in products like household goods, kitchenware, electronic items, toys, sports products and apparel. It also offers consumer finance online in collaboration with ICICI Bank.

"We are now launching the WAP (Wireless Application Protocol) enabling (feature) of Jaldi WAP is the convergence of data, the Internet and wireless," said Mukesh Arora, Director of Jaldi.com.

The portal also said it had set up ten Internet kiosks in Bombay and that it had plans to launch another 300 such units across 20 cities in India over the next three months.

These kiosks were being set up in shops to reach customers not having Internet access, Goel said. Jaldi.com derives its name from a Hindi word meaning "quick". Goel said the portal is making a private placement of equity shares to raise funds but there were no plans to list the shares at the moment.

He said the portal is likely to log sales of around $1 million in the calendar year 2000 and it will break even in the second year of operations.

Source:Reuters
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