Digital media company Valuefirst has been in news this year for acquiring three companies -- mGinger, way2sms, Indyarocks -- in all-cash deals. In an exclusive interview with techcircle, Kumar Apoorv spoke about how Valuefirst sees itself panning out in the coming years.
“We want to become India’s largest digital media company. In the next 3-5 years we want to become a 500-crore plus revenue company and we see that digital market in India in 5 years will be a billion-dollar plus market. We aim to capture around 30 percent of that,” Apoorv said.
Apoorv, who also reveals the plans for the companies that Valuefirst has acquired, also disclosed that the company is in the market to raise around $50 million purely for acquisitions.
Launched in 2003, ValueFirst, backed by NEA and Headland Asian Ventures, has been aggressive in its inorganic growth strategy. It acquired mobile VAS firm Cellnext Solutions in October 2009 in an all-cash deal and went on to bag Noida-based Packet Shaper, a telecom software and product development firm. The company also acquired a majority stake in the social media firm Tagg.in in April 2010 for an undisclosed sum. On the IPO plans, Apoorv said the company is simply waiting for market conditions to become more favourable as the aim is to do a “large enough IPO of about Rs 3,000-4,000 crore”.