SOURCE: Web2 Corp

February 20, 2008 10:03 ET

ByIndia.com for Sale on Ebay.com

Industry-Leading Indian Search Engine & Social Network up for Sale

ORLANDO, FL--(Marketwire - February 20, 2008) - India's leading social networking site & search engine is up for sale. ByIndia.com, founded in 2005 and acquired by Web2 Corp (OTCBB: WBTO) in August 2006, grew from an anonymous simple Indian-centric search engine to one of India's 100 most visited sites, according to third-party traffic ranking site Alexa.com. With complete social networking features, blogs, free e-mail, video and photo sharing, news feeds and more, ByIndia became a top destination for Indians looking to keep in touch with fellow countrymen and women.

"ByIndia has remained a strong property in the Web2 Corp lineup," said William Mobley, CEO of Web2 Corp. "However, Web2 Corp is moving away from developing large branded portals with ad supported revenue models to direct sales of its commercial applications, and holding on to ByIndia.com doesn't make sense for us. While we hate to see a strong site such as ByIndia.com go, our recent business restructuring has made it necessary, and an advertiser or investor who sees the opportunities developing in the India marketplace over the next few years can see the clear value in ByIndia.com. This is a complete turnkey package, with every database, every line of code, and even every physical server platform that the site runs on, all for sale. The transition will be simple, yet Web2 Corp is also willing to entertain continued hosting and bandwidth of the site from our high-bandwidth fiber optic Internet hub in Orlando until it can be physically relocated in India."

ByIndia has some of the most targeted Indian audience statistics on the web, drawing in young twenty- and thirty-somethings in India (and displaced Indians living abroad) who have disposable income and who are tech savvy. "This is an incredibly attractive market for advertisers to reach out to," Mobley continued. "Young and upwardly mobile Indians who are just getting ready to start their own families. India's going to be the world's largest Internet market by 2015, and this is a once in a lifetime opportunity for any of the larger India media companies and advertising agencies which can take full advantage of Web2 Corp's effort to secure a foothold in this soon-to-be largest global internet marketplace.

"With the quest of becoming India's version of Baidu.com, Web2 Corp had arranged for $5M in funding for ByIndia in October 2006. About the same time, Sequoia Capital invested $7M in Guruji.com, another Indian search engine. After 6 months the funding commitment was never delivered, yet ByIndia.com went on to greatly surpass Guruji.com, MSN.in, AOL.in in daily visits to the site, and trailed only Sify.com and Rediff.com (India's strongest portals) before lack of financial support eliminated all in-country marketing efforts. We are not from India and always knew ByIndia.com would need to be transitioned back to India for growth and maintenance, but the crucial funding never came. We would love to see ByIndia.com succeed fully, but we're no longer the right company to make that happen. Selling ByIndia was a hard decision for us, but we know that its value and growing user base will make it a great property for the right party."

ByIndia.com is for sale at http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=120224354877, and direct inquiries may be made by calling 011 +(0)01 407.540.0452.

About Web2 Corp:

Web2 Corp is a Web 2.0 Internet technology development firm dedicated to rapid creation and adaptation of technologies. Web2 Corp addresses new markets of users by creating and simplifying useful products, reducing the level of user technical skills required, and lowering prices for consumers. Web2 Corp (OTCBB: WBTO) is a publicly traded company. For more information on Web2 Corp or to see Web2 Corp's Safe Harbor Act Disclaimer Notice, go to http://www.Web2Corp.com.

Contact Information

  • Contact:
    Trevor Longino
    Director of Communications & Marketing
    Web2 Corp
    407.540.0452