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Sulekha.com eyes $30 million in revenues by 2009; IPO on card

Local commerce portal Sulekha.com is preparing to enter the capital market by launching its IPO (initial public offering) sometime in 2009, by when the company is expecting to record revenues of $30 million (about Rs 120 crore).

Local commerce portal Sulekha.com is preparing to enter the capital market by launching its IPO (initial public offering) sometime in 2009, by when the company is expecting to record revenues of $30 million (about Rs 120 crore).

The company is also planning to introduce city-specific services across 40 tier-II and III cities including Mysore, Coimbatore, Trichy, Chandigarh, Indore, Surat and Vijayawada. Currently, Sulekha.com offers city-specific services in eight cities in India, besides 14 cities in US and one city in Canada.

This will be financed from the $10 million funding the company had received from Norwest Venture Partners in October 2006, according to Satya Prabhakar, president and CEO, Sulekha.com. Earlier, the company received $4 million of funding in 2001 from Indigo Monsoon Group. [Source: Business Standard]

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