'Ample potential to be exploited in cyber space'

Mumbai, Sep 15 (UNI) Managing Partner of Sequoia Capital which is a California venture capital firm Michael Moritz yesterday said there was ample potential to be exploited on the cyber space.

Speaking at an interaction between the top internet companies and members of Internet and Mobile Association of India (IAMAI) held here in the programme 'Google, Yahoo!, You' Mr Mortiz said that the market was small and there was a huge scope for making profits.

Mr Moritz's internet company investments include Google, Yahoo and Paypal, Webvan, PlanetRx and eToys.

IAMAI members said there were 7.2 million internet users in the month of August and most user access internet from cyber cafes and very little from cables. Most of them felt the penetration of broadband in India was quite low, a release issued by IAMAI said.

Michael Moritz said that broadband was distributed through companies in the US, unlike India. He said, ''When it was decided to remove the copper wire in US, there was certain level of opposition from the telecom. But eventually, they saw the opportunity and decided to finance it, he added.

The members said that the audience would grow as the access will be provided with. Emphasis was laid on the fact the amount of time spent on the sites of the company. For which a good content on the site was also necessary.

Another issue discussed was of local companies verses global ones. While local companies scored over content, good language and technology, the global companies scored over market and people-based business.

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