PC Zone gets fresh equity to launch biz-to-biz portal
(Express Computer, New Delhi, 15th November 1999)

In A move to drive the business-to-business (B2B) segment and emerge as a premier e-commerce website, New Delhi-based Multiple Zones India has redefined its corporate strategy and acquired fresh capital. The company - publishers of the PC Zone, India's first computer catalogue - has just completed its first round of raising fresh equity from private individuals.

Angel investor Gokul Tandan has recently picked up 40 percent in the company for Rs. 1.50 crore. Multiple Zone International, UK holds another 40 percent, and the employees hold the remaining.

Talks are on with a multinational IT major's investment arm for the second round of fund infusion. These funds are to be used to incorporate supply chain management, customer relationship management, and improve the website.

"In our first round of funding we have raised close to Rs. 3 crore. We also plan to go in for a second round of funding and raise close to Rs. 6 crore over and above that," said Manpreet Singh, Managing Director, Multiple Zones India.Started in 1997 as a subsidiary of Multiple Zones International, the company has plans to shift its focus from the SOHO and home user segments to SME and corporate users.

"We have found great success with the concept of the catalogue and plan to use this on our website. It can emerge as the premier website for purchasing computer hardware, software and accessories," said Harish Motwani, Senior Marketing Manager, Multiple Zones India.The company, which posted a turnover of Rs. 30 crore in 1998-99, has targeted to take it up to Rs. 80 crore in 1999-2000, with half the revenues coming from the website.