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MediaNama Launch Discussion: In Case Of A Downturn – Reduce Spending On Technology, Double Your Sales Team, Merge To Scale

MediaNama went live a month ago, and on the 18th of July, we held a launch discussion and mixer at the PHD house, with Mahendra Swarup, Chief Mentor of Smile Interactive, Murugavel Janakiraman, CEO of Consim Info (Bharatmatrimony Group), Sanjeev Bikhchandani, MD of Info Edge (India) and Sidharth Rao, CEO and co-Founder of WebChutney on the panel, moderated by Kushan Mitra, Assistant Editor of Business Today, and me. Mint has a nice writeup on our launch discussion and mixer, and Siddharth Puri also blogged about it here. Some notes from the discussion on "Surviving a downturn": What To Do In A Downturn Mahendra Swarup: Stop innovating where it costs you. Technology absorbs a lot of money and costs. Stay put with whatever you have, and look for a strategy where you have alternative revenue streams. Sanjeev Bikhchandani: If you look at what happened to Info Edge, March 2000 we closed the financial year at Rs. 36 lakhs. In March 2004, when we were climbing out of the downturn, the turnover was around Rs. 24 crores. We grew around 60 times during the recession. How did we do it? The first thing is exactly what Mahendra (Swarup) said - we were very very underinvested in technology then. We said - this is the product. we have a tech team of four and just do what needs to be done and what's essential. We just kept opening new branches, kept adding new sales people. Sure we made losses for two years, but…

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