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November 12, 2009

The Mint's profile of MapmyIndia

The Mint has a profile of VC-backed MapmyIndia.
The company today has 500 enterprise customers including Hindustan Unilever Ltd, Godrej Consumer Products Ltd, Bharat Sanchar Nigam Ltd and Bharti Airtel Ltd, ensuring a steady stream of revenue as it works on improving maps for consumer applications...As India’s younger generation gets more comfortable using location-based services on cell phones and in cars, MapmyIndia believes this could account for a major chunk of revenue in a few years...Last year, four million devices were sold in Russia, and Verma believes that the market in India would grow to about 50,000 this fiscal.

...With the entry barriers in the business being high, often a map-making company’s main competition is with itself. A poor experience can turn customers off, making them reluctant to try digital maps again. That’s why the company has between 300 and 400 surveyors on its rolls at any given time. Extensive checks are done every few months and the changes recorded.

Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private equity, venture capital and M&A deals in India. View free samples of Venture Intelligence newsletters and reports. Email the author at arun@ventureintelligence.in