India based Quick Heal Technologies Pvt. Ltd, a security solution provider is planning for an Initial Public Offering by next year. The antivirus software firm is going for a listing in India, in contrast to many Indian product companies that vie for an overseas IPO.[Source]
According to Sanjay Katkar, co-founder and CTO at Quick Heal, the company will appoint independent board members in next 18 months.
The Pune based company was formed in 1993 by two brothers Kailash Katkar and Sanjay Katkar. Currently, it has more than 6 million active customers with 23 branches in India and presence in 60 countries worldwide. The company has product offerings for desktop and mobile and serves to more than 25,000 SME’s.
Quick Heal competes with Avast, Symantec, Avira, McAfee and other market leaders in the same domain. Globally, Avast leads the worldwide antivirus market with 17.4% market share, followed by Microsoft.
In August 2010, Sequoia Capital poured in Rs 60 crore in the security tools provider for a 10% stake, valuing the company at Rs 600 crores. In last financial year, the antivirus provider clocked the revenue or Rs 250 crore.
Quick Heal Story
The Katkar brothers started their business as a calculator repair shop and built it into a successful antivirus company. At the most recent UnPluggd, the NextBigWhat startup conference, Kailash Katkar shared the journey. Take a look.