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iYogi Puts Off IPO Launch, Focuses On Expansion Instead
Tech Support Company iYogi has taken a critical decision to postpone its IPO launch. The company will now focus on organic expansion from its US base to Indian & European companies. Having been the recipient of some serious rounds of funding, the company is now easily able to surpass US$ 100 Million in yearly revenues. But, owing to non-favorable global economic conditions & general dreary outlook pertaining to IPOs the company has put off becoming a listed company on the US Stock Exchange.
Quizzed about the same CEO and founder, Uday Challu, said, “We had plans of a US listing last year as the market there provided a window for young companies like us. But then, the market turned and we lost that advantage. It is getting better now and once the market is ready, we will go for an IPO”. But since the economic turnaround is very recent & the markets are beginning to just stabilize, let alone ascend, the CEO couldn’t specify a timeline.
iYogi has a very simple & effective business proposition., It offers online (i.e. remote) & on-site tech support. It has multiple subscription based plans. In essentiality it is a Tech Help company that coincidentally does not distinguish between individual & corporate customers. The company has annual subscription plans for both. Offering Tech Support is certainly not a niche field. However, one can survive & also grow only if one provides comprehensive solutions that do not complicate the process of getting the systems back online. Hence, despite having to face multiple regional rivals companies like iYogi, which include eTechies, PlumChoice & Geek Squad manage to get customers who want a hassle free commitment policy that assures service & reliability with minimum paper-work & fastest turnaround.
Having started with B2C operations, iYogi has now SMBs within its sights. With a dire requirement of qualified & reliable technicians in the IT field, it will be interesting to see how iYogi achieves its expansion plans.
Image Courtesy | pcworld
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2013-02-22 06:49:14
Source: http://www.watblog.com/2013/02/22/iyogi-puts-off-ipo-launch-focuses-on-expansion-instead/
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