Orlando, FL, (PRWEB) October 6, 2006
ByIndia.com, acquired by http://www.web2corp.com (NASDAQ: WBTO) yesterday, puts the company in prime position to tap India’s rapid growth potential. Web2 seeks to replicate the success of Baidu in China as a model for a culture-specific search engine serving India’s unique audience. While Baidu only emerged last year in China, ByIndia.com is entering the Indian market much earlier in its development cycle, while the market is too small for major competitors. The company believes its product is by far the best in the market and can be rapidly improved to achieve a dominant, profitable position that will become immensely valuable as India’s Internet user base and economic standards rapidly rise over the next decade.
It is no secret that India is on the cusp of an explosion in population and economic growth. Fueled by increasing numbers of skilled workers who speak English, India has begun to evolve from a center for outsourced services into a self-sustaining economy with an entrepreneurial drive. Infrastructure investments are slowly elevating the country’s ability to compete on a global basis. As this cycle continues, standards of living in India are expected to rise to a point where the Indian market as a consumer of goods will be of major international importance within a decade.
The story sounds familiar. If you remove the English speaking aspect, this description could easily have fit China ten years ago. The elevation from a poor agrarian society to an industrial nation is a common theme, but India has some key advantages. It is already renowned for its ability to educate large numbers of highly skilled knowledge workers and it has open communications to the Internet where China is censored and managed. These two key aspects along with the English language have made India a powerhouse in the outsourced services sector enabled by the Internet.
Internet adoption by India’s population is growing at a terrific pace with recent years showing a 200% annual increase to achieve current estimates of 37 million users. Though a small audience by comparison to China or the U.S., this group represents the wealthiest, most well educated group in India. It is Web2 Corporation’s intent to place ByIndia directly in the path of that expanding group of users.
Web2 has established a great foundation for the creation of India’s most useful and potentially popular Internet site. “Projections vary, but the underlying direction and pace of India’s development is undeniable,” said William Mobley, Chairman and CEO of Web2 Corp. “We expect that India will be the largest country by population in 2010. They are the fourth-largest country by number of Internet users today. We expect they will eclipse China for the first place ranking in that category as well. That is what drew us to this acquisition, we wanted to establish ourselves earlier in India’s development cycle than Baidu was able to achieve in China. We can profitably operate today, but we are looking at the coming explosion of potential in five to ten years” continued Mobley.
Backing up his company’s assertion are projections from numerous sources. One study, sponsored by Cisco Systems, projects the rapid continued globalization of the economy with the United States, China and India driving more than half of world's economic growth over the next fifteen years. It also projects that 471 million net new workers will enter the global workforce, with India accounting for a remarkable 30 percent (142.4 million). “America is just waking up to the fact that India is going to outpace China in growth and will become the third major economy of the world,” said Mobley. “Suddenly India is in the press everywhere. We agreed with the assessments and knew we had to be there.”
Information about ByIndia.com can be found at http://www.byindia.com
Information about the Chamber of E-Commerce can be found at http://www.chamberecommerce.com
Safe Harbor Act Disclaimer Notice is available on the web site at http://www.web2corp.com
Contact: William Mobley (407) 540-0452