iYogi Secures $9.5M in Series B Funding Led by SAP Ventures, With Follow-on Investment from Canaan Partners and SVB India Capital Partners

Jul 25, 2008

New York, 24 July, 2008: Personal Offshoring, which is driving the next wave of India’s outsourcing success story, got a huge boost today when iYogi - a remote technical support provider from India - raised $ 9.5 million in Series B financing from SAP Ventures, a division of SAP AG, Canaan Partners and SVB India Capital Partners, a venture fund affiliate of Silicon Valley Bank.
iYogi (www.iyogi.net) delivers technical support services directly to consumers and small businesses and is the first, global, technical support brand based out of India. The company offers its customers an unlimited, annual service subscription for $119.99 per desktop that includes support for a wide range of technologies, including PC hardware Microsoft Windows operating system, software applications, peripherals and multifunctional devices.

“Personal Offshoring has created new investment opportunities in India with incredible growth potential,” said Doug Higgins, partner at SAP Ventures. “It is very exciting to see companies like iYogi challenging the traditional enterprise-focused offshore-service delivery model by creating a consumer-focused, direct-to-customer personal offshore model. iYogi is one of the fastest-growing companies in this market segment, and we look forward to working with them to create India’s next success story.”

“Our focus on the customer experience has helped us achieve a 93 percent satisfaction rate across more than 50,000 customers,” said Uday Challu, CEO of iYogi. “We are delighted to have the support of three terrific investors as we increase our market share and continue to provide the best technical support experience possible for our customers.”
iYogi will use the funds to fuel its expansion into 12 new regions, including the United States, the United Kingdom and Canada, and to increase its delivery of new services including PC recovery, anti-virus/spyware, data back-up and PC optimization.

“As consumer technologies grow in sophistication, consumers will be seeking the kind of home IT support services – including remote services offered by companies such as iYogi – to help them solve their most complex problems,” said Kurt Scherf, vice president and principal analyst, Parks Associates. “In primary research, we found more than one-third of consumers are willing to pay for competent and professional remote support services, and 60% express a strong interest in software solutions – what we refer to as ‘PC Dashboards’ – that automate many basic PC performance enhancement and troubleshooting features, solving many PC-related problems before they even are noticed by end-users.”


iYogi had previously raised $3.1 million in Series A financing from Canaan Partners and SVB in April of last year. “iYogi is one of the most promising investments for Canaan Partners,” said Alok Mittal, managing director of India at Canaan Partners. “Third-party, vendor-independent technical support is an exciting new service category, witnessing explosive growth. Customers are looking beyond the traditional vendor-provided support to remote channels for better problem resolution, faster service, and greater overall satisfaction. iYogi has created an incredible value proposition and price offering for its customers that is hard to beat.”
”Several next generation outsourcing companies from India are delivering a range of personal offshoring services for individuals and small businesses in the U.S. including online tutoring, tax preparation, remote executive assistance and research services,” said Suresh Shanmugham, managing director of SVB India Capital Partners, a venture fund affiliate of Silicon Valley Bank. “iYogi has leveraged the technical skills available in India along with process expertise to scale as a global technical support provider for millions faced with increasingly complex technology”.


About SAP Ventures

SAP Ventures invests in innovative and disruptive software and services companies globally. We pursue opportunities across all stages for outstanding financial return. Our goal is to bring substantial benefit to all parties by facilitating interaction between portfolio companies and SAP and its ecosystem of customers and partners. SAP Ventures has a successful track record of building industry-leading companies by partnering with outstanding entrepreneurs and top-tier venture capital firms since 1996. For more information, visit www.sapventures.com.
About Canaan Partners
Canaan Partners is a global venture capital firm specializing in early-stage information technology and life sciences companies. Founded in 1987, Canaan Partners has $2.4 billion capital under management and has invested in more than 240 companies, completed 63 mergers and acquisitions, and brought over 50 companies public. The firm catalyzes the development of innovative mobile, Internet, CleanTech, networking, semiconductor, enterprise software and services, biotechnology and medical technologies to build next-generation market leaders. Canaan was an early investor in Acme Packet (APKT), Aperto Networks, BharatMatrimony.com, Blurb, DoubleClick (DCLK), ID Analytics, Match.com and SuccessFactors, along with dozens of other market-leading companies. Canaan is headquartered in Menlo Park, California and also has offices in Connecticut, India and Israel. For more information visit: www.canaan.com.
SVB India Capital Partners Fund and Silicon Valley Bank
SVB India Capital Partners Fund is a $54 million equity fund that is focused on Indian companies and co-invests across industries and stages with top-tier venture capital firms. Silicon Valley Bank is the premier commercial bank for emerging, growth and mature companies in the technology, life science, private equity and premium wine industries. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and five international operations. Silicon Valley Bank is a member of global financial services firm SVB Financial Group, with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
About iYogi

iYogi is the first direct-to-consumer and small business technical support service from India. Providing an annual unlimited subscription to technical support for $119.99 per year, iYogi now boasts more than 50,000 customers. The company employs 450 professionals servicing customers in the U.S., U.K., Canada fast expanding to 12 new geographies across the globe. iYogi’s resolution rate of 87 percent and customer satisfaction rate of 93 percent are amongst the highest published benchmarks in the industry. For further information, please visit www.iyogi.net.

# # #
SAP and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries. All other product and service names mentioned are the trademarks of their respective companies.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.


The information contained herein is subject to change without notice. iYogi shall not be liable for technical or editorial errors or omissions contained herein.

SAP and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries.
All other product and service names mentioned are the trademarks of their respective companies.

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

Press Contact Information

Vishal Dhar
awadhesh.singh@iyogi.net
1-212-229-0901
Company Name: iYogi Technical Services Pvt Ltd Address: iYogi Inc. 12 Desbrosses Street 3rd Floor New York, NY 10013 Toll Free no: 1-800-237-3901 Work Number: 1-212-229-0901 F ax Number: 1-888-867-2715 Mail Id: awadhesh.singh@iyogi.net

Source URL: http://www.iyogi.net

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Microsoft May Ship Next Mac Office By 2010

Jul 11, 2008

Mac users won't have to wait another four years for the next version of Microsoft (NSDQ: MSFT) Office. A company official said Tuesday that the software maker plans on delivering the successor to Microsoft Office 2008 for Mac by January, 2011, at the latest, and possibly as early as January, 2010. Microsoft Office Help also plans to restore support for Visual Basic for Applications (VBA) in the next version, which will likely be called Office 2010 for Mac, or Office 2011 for Mac -- depending on the exact ship date.

More Software InsightsWhite PapersHPC Management Software: Reducing the Complexity of HPC Cluster and Grid Resources Top 5 Myths of Screen Scraping WebcastsBreaking down the silos: from change process to release automation Manage Clients for Improved Security ReportsSaaS: Red Light, Green Light Guide To Cloud Computing "We're on a two to three year lifecycle," said Amanda Lefebvre, senior marketing manager at Microsoft's Mac Business Unit, in an interview. "We were a little beyond that for our last round," she conceded. Indeed, a series of delays meant that Mac users who purchased Mac Office 2004 had to wait four years for the next version -- Mac Office 2008, which shipped on January 15. It's the first version of the desktop suite to run natively on Intel (NSDQ: INTC)- and Power PC-based Macs, but its development was set back by quality control issues.

Microsoft's MacBU, which currently houses about 200 employees, is aggressively hiring developers, programmers and testers -- in part to ensure that the next Mac Office is developed on time and is cross-compatible with the Windows version, said Lefebvre.

"It's really about delivering full compatibility, at the file format level," she said.
Lefebvre added that some of the new hires will be tasked with restoring support for VBA in the Mac Office environment. "It will be a big piece of work," she said. Microsoft dropped VBA support in Mac Office 2008, but the move drew complaints from business customers who use the language to create macros for Excel and other applications.

MacBU workers are also developing tools that will ensure that Mac Office can be more tightly integrated into corporate Windows environments that run Microsoft's Exchange Server and Unified Communications Server, said Lefebvre. "It's about connecting in with the greater Microsoft environment and driving improved experiences," she said.

It's a sound strategy. Industry research reveals that Macs are showing up with increasing frequency in business offices, once the sole preserve of Windows desktops. Nearly 80% of businesses now have at least some Macintoshes in their offices, almost twice as many as two years ago, according to Yankee Group.

Increasing Mac sales are, naturally, helping to boost sales of Mac Office. Microsoft sold more than three times the number of licenses for Mac Office 2008 during its first four months on the market than it did for Mac Office 2004 during the comparable period.

Beyond developing applications for the Mac, Microsoft's MacBU isn't ruling out building programs for other popular Apple platforms, such as the iPhone and the iPod. "We're always investigating possibilities," said Lefebvre, who added, however, that "we have nothing to announce at this time."

source:informationweek.com

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Microsoft's Office Subscription Service Ready To Hit The Market

Jul 3, 2008

Microsoft has recently declared that Circuit City will soon be the first to offer an all new Microsoft Office Subscription Service.

Microsoft has joined hands with retailer Circuit City to provide a consumer software subscription service which features its Photo Gallery, Messenger, Windows Live One Care, MS Office and other services and applications.

The new software, dubbed Microsoft Equipt, is expected to be available at around 700 US based Circuit City stores till mid-July.

As per the reports, the cost of the newly launched Equipt licence has been fixed at $70 or £35 per year.

Microsoft makes it clear that the launch does not exactly indicate a complete move to sell its software through subscription models, but the initiative is a significant move for the company.
Reports suggest that Equipt features subscription versions of Office Home and Student 2007 that makes it a cheaper choice.

In addition to this, Equipt also offers unlimited e-mail support and easy subscription removal with the main idea that has triggered the move is to convert more PC buyers into Office buyers.
Microsoft has yet to announce a similar product on this side on the Atlantic.

If you want Microsoft Help then contact us.

source:itproportal.com

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