E-learning firm Vriti Infocom, has sold one of its web properties, Connectindia, to Spade Financial Services, reports TechCircle. The financial details of the transaction have not yet been disclosed, although Manish Sardana, CEO of Connectindia informed the publication that it was an all-cash deal and that he will continue as the CEO of the company.
Connectindia is an aggregator for mobile tariff plans and Internet plans and allows users to compare various prepaid and postpaid tariff plans available in the market. The portal claims to have more than 5500 Prepaid and Postpaid mobile plans and add on packs along with tie-ups with various telcos like Airtel, Vodafone, Idea, Reliance, Aircel,Tata Docomo, and MTS. It also claims to have more than 100,000 customers and physical presence in 35 Indian cities, which seems to have now increased to 40 cities as indicated by the report.
The portal allows offers postpaid plan recommendations across various telcos to consumers based on their usage behavior (i.e. number of local calls, STD calls, and SMS sent every day) and offers mobile number portability services through which it assists its customers to change their telecom operator. Besides this, the site also provides offers and deals on telecom devices like wireless routers and wireless landline phones.
Sardana mentioned that the company clocked a net revenue of Rs 5 crore and a gross revenue of Rs 13 crore last year and that it aims to clock a net revenue of Rs 12 crore for this financial year (FY-13). He also added that under the new owner, the company intends to enter allied categories in the telecom segment, sign up additional mobile operators and extend their field operations to 100 Indian cities.
ConnectIndia Spin Off: In November 2011, Vriti Infocomm has spun off two of its web properties ConnectIndia.in and its hotel booking engine IndiaHotelReview.com in a bid to reposition itself as an e-learning firm. While Connectindia was spun off as newly incorporated legal entity called Connectindia Digital Pvt Ltd, Vriti was planning to sell IndiaHotelReview.com for $5 million in November 2011, as indicated by TechCircle. However, there seems to be no further updates on the deal and IndiaHotelReview.com was down at the time of writing this article.
Other Vriti Developments: Last week, Vriti Infocomm had partnered with Tata McGraw-Hill Education to launch free, online ‘Smart Courses’ for Engineering and Management on Android tablet devices. It had claimed to offer 100 free full courses in the higher education segments of Engineering and Management with the first set of courses planned to release in in early September. The company said that these courses will include e-books, assignments, videos, multimedia, detailed assessments & personalized tips wrapped in an intelligent lesson plan.
Prior to this, Vriti had launched VLearnSmart, an education platform which brings authors, distributors and students together to find, create and sell education courses. The company said that VLearnSmart will allow students to access more than 500 smart courses ranging from Class 1 to Degree courses for CBSE, ICSE, Maharashtra State Board and West Bengal State Board and will provides preparatory material for Medical, Engineering and MBA exams. However, it noted that the app was currently compatible only with Micromax’s education oriented tablet Micromax Funbook.
Other Players: Komparify.com (previously 3Gsimplified.com) offers a similar tariff comparison service for mobile phones, datacards and tablets. It also offers an Android app PlanHound which monitors mobile usage and recommends relevant tariff plans based on the usage.