News Update

Rajesh Jain, a dotcom pioneer in India, is preparing an IPO for his second company, Netcore Cloud

• ByStartupStory     |    March 24, 2022

After a $100 million acquisition last month, Rajesh Jain, 54, a pioneer of India’s internet business, is preparing his second startup, Netcore Cloud Pvt., for an initial public offering within the next year.

Mumbai-headquartered Netcore is a software-as-a-service (SaaS) company that focuses on providing businesses with client communication and engagement solutions. It obtained a 90% share in Unbxd Inc., an e-commerce search-personalization company situated in San Mateo, California.

Netcore’s offers to its global customers, including Pizza Hut Inc., The Body Shop Inc., and Tommy Hilfiger Corp., will be strengthened as a result of the transaction. According to Jain, the transaction will boost the company’s subscription income to $150 million per year within the next 18 months, up from around $100 million today.

Netcore is a huge worldwide SaaS company based in India, very lucrative, and dominates India and emerging areas such as Southeast Asia. according to the company’s website. Who owns roughly a two-thirds share in the business? Employees own the rest, according to Jain.

Jain completed his bachelor’s degree from the Indian Institute of Technology in Bombay and his master’s degree from Columbia University. He worked in the United States for two years before returning to India to start his own business. In 1995, he sold IndiaWorld Communications, his first firm, in one of Asia’s largest internet deals of the dotcom era.

Netcore, like IndiaWorld before it, has refused to accept venture capital money. According to the company’s acquisition statement, the SaaS startup has over 5,000 global clients and delivers over 15 billion marketing emails and texts weekly through its platform.

Follow Startup Story