1st Apr 2015 09:24
LONDON (Alliance News) - E-commerce company CloudBuy PLC on Wednesday said the e-commerce marketplace it is providing for the Confederation of Indian Industry will launch at the Global Exhibition on Services being held in New Delhi on April 24.
The company also said it has secured a three-year deal to provide a purchasing portal to a large, unnamed Indian construction company. The baseline revenue from the portal will be GBP40,000 a year over three years, it said, along with a small percentage of the value of transactions passing through the portal.
"We are pleased with progress made to date in India where we are now gaining traction across buyers and sellers. A key milestone is demonstrating that we can sell e-commerce sites in India at a reasonable value and our initial pre launch customers are a step in the right direction. Our aim is to increase the volume of sales once the marketplace is launched," said CloudBuy Executive Chairman Ronald Duncan.
Shares in CloudBuy were up 15% to 29.115 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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