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Unparallel navigation software MapmyIndia 16 Jun, 2008, 0000 hrs IST,Ravi Teja Sharma,
ET Bureau
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If
it wasn't for a change in strategy back in 1994, CE Info Systems, the holding
company of navigation software MapmyIndia, could have been somewhere at the top
with the rest of the IT majors in India, says its founder Rakesh Verma, "When we
started in 1992, Wipro wasn't around and Infosys too was small. And we were one
of the fastest growing IT companies at that
time."
But Verma had other
plans. He wanted to work in the products space, not just services. So in 1994,
his company switched over to mapping software. "I had seen a similar business in
Atlanta and it excited me. The lack of good maps in India gave me an
opportunity. At that time, no one in India thought of making digital maps," he
says.
Mapping was uncharted
territory and to create a maps database, CE Info Systems deployed 200 surveyors
across India. Its first customer in 1994 was Coca Cola, when the cola major was
making a re-entry into the Indian market, and was struggling to understand the
territories of different bottlers.
Similar enterprise clients
helped the company stay on in a market where maps weren't quite the rage until
recently. With the mobile phone boom a few years later, telecom operators used
these maps to understand where they could put up their
towers.
For
a decade, CE Info Systems' customer base grew to a healthy 500 on the back of
its B2B model. During this period, the company, for the first time, came out
with a book called Mumbai Pathfinder, which contained detailed maps of Mumbai
and Navi Mumbai. The book was received well, says Verma, and taught Verma how
to manage the complexities of a consumer
business.
2004 was a turning
point for the company. With signs of the Indian market picking up and the
digital era setting in, CE Info Systems uploaded its maps on to the Internet.
The success of Mapquest and Yahoo Maps was encouraging, says Verma.
Interestingly, Google Maps did not exist in 2004. The MapmyIndia portal was
launched in August that year. "People did not know that maps existed for India,
and we wanted to let the world know that they now did," says Verma. "We got
shortlisted for an IT innovation award by Nasscom."
But the quest didn't end here
for Verma. "How to make maps navigable on the Internet? This is what hit me next
and we spent 2004-06 putting maps on the Internet," he
says.
Since the use of maps was
growing, Verma decided his company needed to be present across platforms-on the
Internet, in-car, mobile, TV and print. "But we couldn't have done everything on
our own, so we decided to partner with international players," he says. Finally
after a tie-up with Yahoo, both Yahoo and MapmyIndia maps were competing on
yahoo.com.
And like most tech
companies of the time, private equity money was chasing them. "But we wanted to
partner with an investor who had the best ecosystem," says Verma. Those days his
son Rohan was studying at Stanford and one of his professors was a partner at
Kleiner Perkins. "This is how we got connected and got investments through
Sherpalo Ventures and Nexus India Capital (both part of Kleiner Perkins) in two
years-Rs 12 crore each," says Rohan Verma, who's a director at
MapmyIndia.
While some of this
money was spent on creating infrastructure and marketing, a part was spent on
creating products, the results of which can be seen today. The company has
launched new consumer products in the last few years-an in-car navigation system
launched in August last year and GPS navigation on mobile phones recently.
Their maps cover 55,000
villages and town points, 150 cities containing landmarks and 18 major cities
with all details. In fact, General Motors launched the MapmyIndia navigation
device as a genuine accessory with some of its premium cars earlier this year
and more car companies are expected to follow suit.
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