"At some point Omni and Omni revenues are going to meet Search revenues," JustDial founder VSS Mani said in a call with analysts. During the March 2016 quarter, JustDial launched JD Omni, an inventory management product to help small businesses manage their online and offline sales, and said that it saw setup fees of Rs 3.65 crore recognized in the quarter. Omni will help small businesses and shops get their own website complete with a payment gateway and also link up with JustDial's Search Plus app and update their inventory on the app. During the call, JustDial's CFO Ramkumar Krishnamachari said that the company is studying accounting norms to report the revenues from Omni. He explained that Omni's revenues has two parts: a one time set up fee for a business and a license fee which can be paid monthly or in a single time. VSS Mani and Ramkumar Krishnamachari spoke at length about the Omni product. Here are some take aways from the call: - During the quarter, 2,500 Omni stores from Just Dial have been set up. - Out of which, 1,800 stores have set up a website and app. - These 1,800 stores were charged a one time setup fee which was recognized as Rs 3.65 crore in the March quarter. - The one time setup fee costs Rs 20,000 - The licence rental fee is Rs 2,000 a month or Rs 3,500 a month which will list the inventory and services on JustDial. There is also an option of a…
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