DealTracker - Intel Capital Invests In 123Greetings
Intel Capital, the investment firm of Intel Corp, today announced the first closing of a Series A investment in 123Greetings, a provider of online e-card services.
The proceeds from the investment are intended to support future product launches, sales and marketing, infrastructure and expansion both in India and internationally. 123Greeting is owned by IntraSoft Technologies Ltd.
123greeting took in a revenue of $5 million for the financial year 2007. The company has close to 20,000 free cards. US currently is the largest market from the company and has been launched in India recently.
“Online greeting cards have become a standard form of modern socialization around the world,” according to Arvind Sodhani, president, Intel Capital. [Via]
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