MapmyIndia Aims 5 Fold Jump in Revenue to Rs 1,000 Cr by 2023
Digital map firm MapmyIndia expects a 5-fold increase in revenue to Rs 1,000 crore with the introduction of home level navigation in its maps and from expansion of business overseas over the next five years.
"We started with initial capital of Rs 3 crore in 2004-05 and now we have revenue of Rs 200 crore. With launch of eLoc, that helps in navigating till doorstep, government support and overseas expansion, we expect to garner revenue of Rs 1,000 crore in the next five years," MapmyIndia Managing Director, Rakesh Verma told Pixr8.
He said that now people can visit MapmyIndia and create own digital location code, eLoc of office and home on the map and use it as an alternative to their postal address.
"A six character code is created automatically as digital address on the map. Thi...
