ValueLabs ups revenue target to $40m, sets up US office
WITH encouraging response from the market, custom software development, quality assurance and tech support company, ValueLabs, has doubled its revenue target from the previous $20 million to $40 million per annum by October 2006.
The company, which has an offshore development centre here, has recently opened up its first US office in Atlanta and has ramped up its sales team there with the addition of Mr. Paul Larson, who was a part of the 24/7 Customer Inc start-up team, to head its team in the US.
Currently the company, which has current revenues of $11 million, plans to end the current year with around $13 million.
While 20% of its current revenues are from tech support and BPO operations, according to Mr. Ajit Kumar V, director projects, this should increase in the coming year to 40%.
ValueLabs is also in the process of pumping in an investment of $7 million on setting up a new facility in Hyderabad to create a built-up space of 150,000 square feet to cater to its aggressive expansion. From the current 450 people the company is expected to ramp up to 1,000 by 2005.