E-cards maker IntraSoft eyes 25% market share by FY 14

Upbeat on the penetration of the Internet in the country, e-cards maker IntraSoft Technologies, which owns 123Greetings.com, is eyeing a 25% market share by FY 14, a top company official has said.

"With the advent of technology, e-cards are a lot more vivid and interactive. This has made e-cards more entertaining and personal than physical greeting cards. The penetration of the Internet is further catalysing the growth of this industry. Hence, we are targeting a 25% market share by FY 14," IntraSoft managing director Arvind Kajaria told PTI here.

At present, the Indian e-card market is estimated to have around 100-million users and is growing by 12-15% every year.

"Internet penetration is increasing by around 12-15% every year. We expect the e-greeting market to grow in the same proportion and we see this as an opportunity for growth of our business," he said.

Currently, the company enjoys 18-20% market share, or 20-million e-cards, with its major competitor being Archies e-cards, he said.

The company has had around 90-million online visitors at www.123greetings.com so far.

"We are currently witnessing 70% of business coming from the US, followed by 28% from India and rest from Far East countries. But now we are reducing our dependence on the US market and focusing on emerging markets like India," Kajaria said.