Printvenue had set up an office in Singapore in June 2013 and revenues from this market now accounts for 15% of the company’s total revenue.
The international expansion is an interesting move by the company that was set up here in 2012. It currently offers printing solutions including business cards, card holders, custom mobile cases, tshirts, mugs, posters, flyers, photo frames, photo magnets, calenders, mouse pads etc. It also offers other products such as stamps, ofice accessories, wallets, key chains etc. .
With Rocket Internet expanding the operations of an Indian company to South East Asia, it needs to be seen which other Indian business backed by the German group will step outside next.
Competition: In India PrintVenue competes with competes with Printo Document Services which has secured funding from Sequoia Capital, SeedFund and Blume Ventures, Printbindaas which had received angel funding from Manoj Kumar Swain and Rajesh Garg in August 2012 and Printland which raised Rs 5 crore in debt and equity from Small Industries Development Bank of India (SIDBI) and existing investors Evista Venture Capital and Sanjeev Kakar last year.
Alma Mater, a customised printing solution provider focusing on schools and colleges, had also received funding from Indian Angel Network in November 2012, while the online photo printing startup Zoomin had also raised around $1.5 million from SVB India Finance in January 2013.
Online printing organization Vistaprint had also acquired PrintBell in June 2011, to setup Vistaprint India which offers corporate printing solutions like business cards, letterheads and embroidered clothing among others. It needs to be noted that Rocket Internet has a Brazilian company called Zocprint which is very similar to Vistaprint.