Infibeam is looking to further increase its services offering. It announced its plans for getting into the education space by starting BuildaBazaar for e-learning. This will allow schools, tutors, colleges, professors, and companies to access a private cloud to upload multimedia content and maintain a library.
People and companies who wish to offer e-learning can then develop courses and monetize them. Infibeam will allow monetization by per user, pay per course or even develop custom payment options. It will also develop analytics for users and show performance by an individual user. Infibeam will also allow the development of public and private courses.
The e-learning service was developed by the recently acquired DRC Systems and the payment gateway services will be provided by CCAvenue. DRC Systems has been providing customized solutions for Infibeam’s BuildaBazaar platform. DRC Systems employs 200 software engineers and the company builds customized solutions on proprietary and open source software frameworks.
Note that Infibeam’s services segment has been posting higher revenues and profits compared to the e-commerce offering. For the quarter ended December 2016 (Q3 FY17), the segment posted revenues of Rs 40.2 crore, a rise of 49% from Rs 27 crore in the same quarter last year. It also posted a profit of Rs 21.39 crore for the quarter, up 55.5% from Rs 13.75 crore in the same period last year.
The e-commerce division – which sells products – reported revenues of Rs 62.5 crore, down 1% (around Rs 60 lakh) from the same quarter last year, and down 23% (around Rs 18.6 crore) from Rs 81.05 crore the previous quarter. The segment posted a loss of Rs 2.64 crore, an improvement from Rs 7.17 crore in the same quarter last year. Although, the company’s management attributed the lower revenue to the demonetization drive and the removal of cash-on-delivery option.