A homegrown social networking site is hoping to compete with giants like Facebook and Twitter by integrating features of all top web portals into a seamless floating facility.
The brainchild of Pushkar Mahatta, a city-based young entrepreneur, worldfloat.Com is a combination of several ideas patterned on real life created to go digital where individuals can connect with each other without any barrier.
"It's a dynamic social site where people can walk around freely with the help of float technology. Here floating is walking and walking is floating. It gives the users to break free from all kinds of shackles in social networking," Mahatta said.
The portal, launched on a smaller scale, allows a user to interact with whomever he chooses to interact. It's a place for diverse culture yet equal, and replicates the real life actions, thought process, naturally.
"Currently, we are targeting the youths across the world. After some time we plan to penetrate into the business and professional groups," Mahatta said.
Plans are there to add more and more features at regular intervals to make the site more acceptable and exciting like live conversation, creation of virtual shopping mall and office at different cities across the country.
Mahatta said that many venture capital firms have already evinced interest to be a part of the portal and valued it at over $100 million (about Rs 550 crore).
"Since it is a developing site, valuation will surely move northward. People from abroad are taking keen interest in the site. Many VC funds are in touch," he said.
The return on investment of the site would be around $40-50 million each year for the next two years, he said adding the geo-targeted advertisement is the key to revenue earnings since there is no other platform for such advertisements.
"Our plan is to make the site the largest bill board company in the world where people can advertise in cities of their choice. With the addition of more cities, advertisement would go up and this will ensure flow of revenue," Mahatta said.