Seventymm.com, India’s first Online DVD rental company, based mostly on the NetFlix idea, is hoping to break even by the end of this year. Though with the entry of Reliance Entertainment, Nimbus and MoserBaer the place looks to become congested, Seventymm is trying to capitalize on it’s early mover advantage and capture as much of the market as possible.
Currently based in Bangalore, Delhi and Mumbai, the company plans to start operations in five more cities by the end of the year.
Capturing markets is never easy, but Seventymm seems to be up to the task. They have started offline sales too, though most of the business still comes online. Also they are trying to reduce the delivery time from the current 24 to 3-4 hours but the main problem is transporation of the DVD’s. However, they do have some plans in mind. There are more features they are stacking up, which include, SMS based bookings, adding television serials to the listing, digital downloads of movies and at the same time working on a partnership with DTH operators.
Kher, the founder, hopes to come out with an IPO once the company reaches close to 100 crores, and does not plan to sell out to larger bidders.
If you liked this post, you might like to subscribe to Gyaan Sutra’s Feeds here.