Itspace In Talks Withvcs For Expansion

Technology portal itspace.com, which is promoted by Microland chief Pradeep Kar, is in talks with various venture capital funds to raise funds for its expansion plans.

According to senior company officials, the company is expected to finalise the funding by June. The company will also come out with an initial public offer by the end of the year.

The company is currently in the process of setting up a shopping mall for technology products. The company expects the shopping mall to be functional by July.

The company plans to initially offer an online directory of technology products. This will be later extended to online shopping.

 

"In the second phase of online shopping plans, we will introduce real shopping and we are in the process of finalising alliances with vendors and dealers for this," said Nitin Mantri, manager, communications IT Space.

He, however, did not specify the nature of alliances that the company was planning.

IT Space is also planning a wide area of alliances with other leading portals, both Indian as well as foreign. "We are exploring various options and are yet finalise this," Mantri said.

It is learnt that some of the alliances are in the area of content sharing with some leading international websites. The company is also planning to build an online learning channel for information technology professionals. It intends to tie up with leading information technology companies to offer specified project programmes.

Information will also be available for the information technology community on skill development and related training facilities. Over the next few months, the company also plans to launch new sections on the website including e-mail and free home pages.

In addition, the portal is also in the process of building a team that will create content for its sections.