Local search engine Justdial, which had recently talked about its plans to become an online marketplace has detailed its plans for the same. The company has announced the launch of its online marketplace ‘Search Plus Services’ which enables online transactions.
Local search company Just Dial will launch Search Plus services, an online marketplace and transaction platform to enable local merchants to sell online.
JustDial just got into a lot of businesses at one go. Does all this make sense for a horizontal search engine to get into? Or is the best-of-breed that aggregators can better attempt for a specific vertical a better approach to solving these problems?
JustDial Wants to Enable Online Transactions; Movie Ticketing, Cab Booking on the Cards; Q2 Profit Up 2.2%
JustDial, which employs over 8000 people now, said that it has launched products focused on restaurant food order & is working on products that will help table reservation, wine order, movie/ event ticketing, cab booking, doctor’s appointment, grocery order and flower delivery order.
The service is currently available on the web and phone and sadly not on Justdial’s mobile applications. This is probably because of the location specific nature of the business.
At Rs 104.56 cr, revenue for the quarter were up 28% year on year whereas profits grew 69% year on year to Rs 28.04 cr.
Internet & Mobile contributed to 62% of total search requests on Just Dial as compared to 54% last year. Its primary revenue source is paid campaigns through advertisers and it grew 21% compared to last year.
Justdial which listed on the National Stock Exchange today at Rs 590, closed at Rs 605, up 14.15%. Shares touched an intra-day high of 631.9 and a low of Rs 581.15.
Shares of JustDial, priced at a multiple of 66x its earnings per share in FY12, was considered an expensive buy by many analysts. However, the markets seem to have gone the other way on this.
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