Digital marketing company Lycos has formed a new joint venture with Apollo International to provide solutions to global brands in deploying custom e-commerce platforms targeting Indian consumers. The new venture will be called Apollo Lycos Netcommerce.
The new company will promote their brands online, provide digital marketing of their products and services, drive engagement and sign ups, fulfill orders, ensure data security and consumer privacy, inventory tracking and management, order delivery and reverse logistics. Apollo will contribute its expertise in logistics, inventory management and reverse logistics, while Lycos brings its expertise in digital media, technology and marketing in setting up online presence for large brands globally.
Apollo International, a part of the Apollo Group, has been leading the group’s new business initiatives since 1994 and is headed by Rajaa Kanwar. The company’s businesses include logistics, digital cinema, tyre marketing and distribution and leather.
In June, Lycos launched Lycos Life, a line of wearable devices that include a smart wristband and a finger ring. The devices are priced at $124.99 for the wristband and $59.99 for the ring. The wristband, named The Band, features a fitness monitor, a personal security manager and something called ‘Tap2Transfer capabilities’. Lycos claims the device can track a user’s steps, calories burned, speed, sleep and heart rate. The personal security manager on the device lets users log in into their phones and apps without needing to use a password. The Life Ring, has the same features although it does not include the fitness monitor,
In May, Lycos Internet put up for sale a number of patents it holds across segments like search engine technology, online advertising and online gaming among others. The company said that the decision to focus on its IP portfolio was not an attempt to gain entitlement for IP external innovation, but essentially to create a more collaborative relationship with partners and the industry. It also mentioned then that it was readying to launch a suite of hard good products in the coming weeks.
For the quarter ended June 30, Lycos reported digital marketing revenues of Rs 388.7 crore for the quarter ended June 30, 2015, registering an increase of 23.33% from Rs 315.18 crore last quarter, and an increase of 13.95% percent year-on-year (YoY) from 341.12 crore the same quarter last year. Revenues from the software development business decreased, with the segment reporting revenues of Rs 109.92 crore for the quarter, down 15.24% from Rs 129.69 crore in the last quarter and a decrease of 4.52% from Rs 115.13 crore the corresponding quarter last year. Lycos posted an overall net profit after tax of Rs 90.68 crores, an increase of 17.26% QoQ from Rs 77.33 crore, and an increase of 8.55% YoY from Rs 83.53 crores.