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Bharat Kumar
Raja Simhan T.E.

CHENNAI, Jan. 7

AGENDA Netmarketing Pvt Ltd, popularly known as "3rd Agenda", a city-based Web solutions company, is on the verge of winding up operations.

It may be recalled that the SSI Ltd had invested Rs 3.6 crore for an 80 per cent stake in Agenda Netmarketing in 2000. SSI had revenues of Rs 264.28 in 2001-02.

Reliable sources revealed that 3rd Agenda was winding up operations due to challenging business conditions. SSI says that it is evaluating the progress of 3rd Agenda. A spokesperson for SSI said, ``Agenda Netmarketing has not been closed down. SSI made a strategic investment in it to take advantage of a growing need for Web-based development and related services. At this stage, SSI is involved in evaluating the progress achieved so far.''

Mr Ganesh N Mandalam, CEO and Managing Director of 3rd Agenda, declined to comment on the issue. For the year 2001-2002, Agenda Netmarketing reported a loss of Rs 1.36 crore on a turnover of Rs 1.74 crore.

SSI, in its 2001-02 annual report, said that the year was a challenging one for Agenda Netmarketing, and the recession in the US impacted the company's performance. It added that the plans for the future included, "Plans to consolidate its relationship with all its existing clients and leverage the same to generate more revenues from them. The company also plans to dedicate more resources in the US market, to ensure consolidation plans are in place.''

3rd Agenda commenced operations in 1997 and its clientele included Satyam Infoway, Citibank, Caltex-SPIC and Knight Ridder. Its staff strength touched 100 in June 2000. It had had operations in India, New Zealand, the Gulf and the US. In its Web site, it says that it had seeded Bridgeovertw.com, an online advertising business.

The site added, "The company has recorded a growth in top line in excess of 100 per cent on a year-on-year basis for the last three years.'' The company also developed CarStreet.com — the first ever ASP-enabled Web site in India.

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