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Bt100m boost for Jasmine
Patcharee Luenguthai
Usanee Mongkolporn
JASMINE Cyberworks (JCW), an Internet incubator of Jasmine International Plc, plans to invest Bt100 million to expand its operations this year.
Pete Bodharamik, the company's president, said the incubator would take part in five new incubation projects this year, including investment in a software development company and a logistics company.
"We are negotiating for the deals. Like we always do, we will take a minor stake in these companies," he said.
Pete believes that the area he plans to invest in has very high potential.
The software project will focus on the application service, while the logistic project will concentrate on the online product order service.
"The new incubated projects are different from the existing ones. But I cannot elaborate on the details now," said Pete.
Last year the incubator set aside a Bt250 million fund to invest in the projects, three of which used up Bt40million of the fund. The projects were Asiajack.com, PassionAsia.com and Jakfree.com, Pete said.
The incubator has taken a minor stake of 38 per cent, 26 per cent and 20 per cent in the three, respectively.
The first two projects will be officially launched this year.
Jakfree.com, an online game show site that has been promoted since last year, currently claims about 10,000 active subscribers. The site is planning to promote an Internet caf? community through a tie-up with an Internet caf? business. It will hold a press conference on the venture next week.
Yesterday the board of Jasmine International approved Jasmine Cyberworks' plan to raise its capital to Bt50million from Bt2 million to expand its business.
Pete said he gained much valuable experience last year during the dot.com business shake-up and wants to use that experience to enhance his operation.
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