Mumbai, Jan 17: Intel Capital and 123Greetings, a leading provider of online e-card services, today announced their tie-up to expand the consumer internet space.
Intel Capital's investment comes from the 250 million USD Intel Capital India Technology Fund. It invests in Indian technology companies to help stimulate local technology innovation and the continued growth of India's information technology industry.
Addressing a press conference here, Intel Capital's Managing Director Sudheer Kuppam said, ''Online greeting cards have become a standard form of modern socialisation around the world. Intel Capital looks forward to working with 123Greetings as they advance to the next stage of their growth and expansion.'' Arvind Kajaria, Founder of 123Greetings.com, said that the Intel Capital investment will provide the online e-card services provider an opportunity to further its strong position in the online expression space and provide full opportunities to take advantage of growth opportunities.
He said that the tie-up will help 123Greetings to develop more interfaces. ''Improving quality of e-cards, expanding the reach, tapping new languages, local dialect and festivals will be the new thrust area,'' he added.
Mr Kuppam also said that Intel Capital looks at the investment as an opportunity to expand into consumer internet space and revenues.
''our vision is to be means and end to the users' expressional needs,'' he added.