CanvasM to launch an application store in the next quarter

CanvasM, a Noida-based mobile value added services (VAS) company which is a joint venture between Tech Mahindra and Motorola, said it is going to launch an application store in the next quarter (July to September).
Speaking to Telecom Yatra, Jagdish Mitra, chief executive officer, CanvasM, said, “The application store will be a white label service and will work across operators and handsets. For the App store, we will be functioning like a mall. A person who wants to market his product can use the mall. We will not be involved in the marketing and branding of the apps store. We will provide the platform but we are not going to take the responsibility to sell the product to the end customer.” A white label service is one that is produced by one company and marketed by others under their branding.
At present, CanvasM is focusing on two segments. It offers enterprise solutions such as managed services and system integration, as well as customer related services such as mobile commerce and mobile advertisement. It is eyeing a growth of 50 to 60 per cent by the end of this year.
Speaking about the app store, Mitra said, “We have been looking at the app store business from the last one and a half years. We are the pioneers in this and we are thinking of launching a bundle of about 30,000 applications. We have some aggregators who will provide apps to us. We are also looking at this platform as a place where anyone can come and build an application. We have the reach to take these apps into the market, through Tech Mahindra, Mahindra or our own channel.”
The company has also tied up with some colleges and universities to generate ideas for applications.
CanvasM currently provides VAS solutions to enterprises in India and Asia Pacific, the United States of America, Europe, Singapore and the Middle East. According to Mitra, the company generates around 50 per cent of its revenue from India, Asia Pacific and the Middle East; while the rest comes from USA and Europe.