Magzter Inc gears up for global expansion
Singapore: Magzter Inc, the digital magazine store and newsstand which originated from Chennai, has announced new expansion plans including a broader range of magazine offers and online books for its readers.
"We will start offering online books from next month, and further expand the range of magazine offers," the co-founder and chief executive officer of Magzter Inc Girish Ramdas said.
Chennai-born Ramdas said that Magzter Inc was working on a USD 10 million fund-raising plan to expand it globally.
At present, the New York headquartered Magzter Inc offers more than 4,000 magazines from 30 countries to readers through smart devices, including tablets and iPads.
Earlier this month, the book readership crossed 10 million with another 200,000 added in the first two weeks, said Ramdas, who celebrates two years of Magzter tomorrow.
"The Indian market is still developing and will become a major source for Magzter once the smart devices and tablets become more affordable for the people," he added.
Talking about the future plans of the company, Ramdas said he is looking at listing it in New York citing strong interest of international investors.
"Magzter expansion continues," he said.
The company recently opened an office in Singapore and added 75 top magazines.