| Company type | Private |
|---|---|
| Industry | Retail |
| Predecessor | Four Soft Technologies Ltd. |
| Founded | 1999 |
| Founder | Palem Srikanth Reddy |
| Headquarters | Hyderabad, Andhra Pradesh, India |
Area served | India |
Key people | Palem Srikanth Reddy (Chairman, Managing director), Ameen Khwaja (CEO) |
| Products | Consumer electronics |
| Brands | LatestOne |
| Subsidiaries | Palred Online Technologies, Saverable.com, Great indian t.com |
| Website | www.palred.com |
Palred Technologies Limited (formerly Four Soft Technologies Ltd.) is an information technology company headquartered in New Delhi, India. It provides technology solutions for media, entertainment and online e-commerce companies. Palem Srikanth Reddy, an Indian entrepreneur founded Palred in 1999 with the objective of creating enterprise software in supply chain management using advanced Web technologies.[1]
History
editEarly history
editPalred's predecessor, Four Soft Technologies Ltd. also known as Four Soft was established in 1999. Four soft was initially created as Four Soft Private Ltd. in Hyderabad in the state of Andhra Pradesh in India. The company operated in the software development industry and provided solutions to the transportation and logistics sector. Its main clients were in the freight forwarding industry, Third-party logistics (3PLs), customs brokerage, contract and warehousing logistics, and liners.
2001 – Four Soft created a subsidiary called Four Soft LLC, San Francisco (USA), to support its expansion in the USA.
2003 – Four Soft was converted into a public limited company and listed on both the National Stock Exchange of India and the Bombay Stock Exchange.
2004 – Four Soft received the ISO 9001:2000 certification by BVQI. In the same year, it acquired Cargo Mate International, a transportation and freight forwarding software solutions company based in the Netherlands.
2005 – Four Soft acquired Comex Frontier Pte Ltd, a Singapore based software solutions provider and MY Comex Sdn Bhd, a Malaysian eCommerce solutions provider for logistics. It also acquired DCS Transportation and Logistics Solutions division, transport and logistics software solutions with operations in UK, The Netherlands, US, France and Germany.[2]
2006 – Four Soft set up a subsidiary Four Soft Japan K.K. to support its expansion in Japan. Then, it acquired two companies: FWL Technologies, UK, a freight and shipping software business and Transaxiom Holding A/S, a company headquartered in Denmark.
2007 – The Global Institute of logistics, New York appoints Four Soft CEO, Palem Srikanth CEO, on its advisory board.
Recent history
editIn 2014, Palred Technologies was created out of Four Soft Technologies Ltd with changes in its operations and services.[3] The same year, it sold its logistics software operations to a portfolio company of Francisco Partners and invested a portion of the sales proceeds into building LatestOne.com, an e-commerce company and online retailer of mobile and technology accessories.[4]
In October 2015, Palred Technologies ceded 60% of its exiting equity capital by returning Rs 16.50 per share to shareholders who still hold 40% of shares.[5][6]
In March 2017, the company said in a statement that it raised Rs 22 crore (U.S. $3.34 million) in its latest round from investors. The funding is intended for expansion through investments in additional infrastructure and brand building. [7][8][2]
Description
editPalred Technologies Limited is the parent company of Palred Online Technologies Pvt. which owns LatestOne.[9] The company operates mainly in eCommerce, information technology, media and entertainment.[10]
References
edit- ^ "Palem Srikanth Reddy, CMD, Palred Technologies Ltd". India Infoline. July 19, 2016.
- ^ a b "Company History Palred Technologies". India Times. Cite error: The named reference "indiatimes" was defined multiple times with different content (see the help page).
- ^ "Four Soft Ltd to change name as Palred Technologies Ltd". Equity Bulls. Retrieved 13 Octobre 2013.
{{cite web}}: Check date values in:|accessdate=(help) - ^ "Palred Technologies Ltd". The Wall Street Journal.
- ^ "Palred Technologies locked upper circuit post relisting". Business Standard. October 7, 2015.
- ^ "Last day of trading for Palred Technologies". The Hindu.
- ^ "Florintree leads Rs 22 cr round in Palred Technologies". India Today. March 14, 2017.
- ^ "Tech accessories e-tailer LatestOne.com raises $3.3 mn from Ashish Dhawan, Mathew Cyriac and others". Tech Circle. March 14, 2017.
- ^ "Palred Tech invests Rs. 30 cr in e-commerce portal LatestOne". The Hindu – BusinessLine. April 12, 2017.
- ^ "Financials and statsPalred Technologies Ltd". Morning Star. 13 January 2013.
External links
editCategory:Information technology companies of New Delhi Category:Software companies of India Category:Companies based in New Delhi Category:Companies established in 1999