NEW DELHI: Golflan, a sports tech company based out of the city that focuses on being the one-stop shop for event management and online retailing in the sport of golf, plans to go public by 2020, ET Tech reports.
The company CEO Dhruv Verma told the news agency that the company was on track to close this year with revenues of $6 million (Rs. 420 million) as against $3 million (Rs. 210 million) in 2017, expecting its current streak of growing at 100 per cent annually to continue for the next two years.
“We are breaking even operationally and will look at listing the company once we hit a revenue run rate of Rs 1 billion,” Verma said.
He estimated that the company’s revenues would hit the Rs. 500 million mark by 2019 and between Rs 800 million-1 billion by 2020. The company is already in contact with merchant bankers for a potential IPO.
Golflan, which started as a subscription service in 2012 in India, has gone on to branch out in South Africa, Middle East and South East Asia courtesy three acquisitions over the last two years. This has also made them diversify from inventory management for golf courses to smart cart fleet management and tee-time solutions.
The focus is now on complementing its B2B side of business with B2C strengthening with a consumer data focused product next year. Verma revealed that more acquisitions is on the cards on the artificial intelligence side by June next year, making them potentially enter markets in Canada and United States. The latter is worth $14 billion out of the $48 billion worth global golf market.
“This would be to enter the retail golf side. There’s a lot of data being generated, like the speed of the drive, stance etc. and we’d like to provide a tech platform to individual golfers as well,” he signed off.
