IndiaMART

IndiaMART
Founded 1996
Headquarters Noida, Uttar Pradesh, India, India
Area served Worldwide
Founder(s) Dinesh Agarwal and Brijesh Agrawal
Industry Internet Marketing
Revenue Increase ₹ 225 crore FY2014,(CAGR 35%) [1]
Employees 3600
Subsidiaries Tolexo
Slogan(s) Kaam yahi banta hai [2]
Website www.indiamart.com

IndiaMART is an Indian e-commerce company that provides B2C, B2B and customer to customer sales services via its web portal.[3] The group began in 1996 when Dinesh Agarwal and Brijesh Agrawal founded the website IndiaMART.com,[4] a business-to-business portal to connect Indian manufacturers with buyers.[5][6] The company is headquartered in Noida, India.

In 2014, IndiaMART's portal handled 200 crore in revenue[7] and 20,000 crore in sales.[8][9] According to a news in Economic Times, as of 2012 IndiaMART was India's largest online marketplace[10][11] and world's second-largest B2B marketplace after Alibaba.[12][13] IndiaMART's e-commerce portal Tolexo was launched in 2014.

Background

IndiaMART was founded by Dinesh Agarwal and Brijesh Agrawal[14] as a directory of the websites that his company InterMESH (which was started in 1996) was developing for customers in the Delhi-NCR region.[15] In 1998, its second office, was set up in Mumbai. By 1999, the directory had more than 1000 listings.[16]

At present, the firm employs more than two thousand employees in the major cities of India. In August 2013, it acquired the local event discovery app Playcez, to focus on the mobile business.[17]

In June 2014, yhr firm launched Tolexo, an e-commerce platform for SMEs.[18][19] It features industrial and office goods and supplies.[20][21] In November 2014, IndiaMART started promotional campaigns featuring Indian film actor Irrfan Khan as its brand ambassador.[22]

As of 2015, the firm, claimed to have 3 million suppliers listed on its website.[23][24]

Funding

In early 2009, the firm received 50 crore Series A round funding from Intel Capital, a part of which was invested in IndiaMART, One97 Communications and Global Talent Track.[1][25][26][27] In March 2016, it raised Series C Funding from Amadeus Capital. It is claimed that these funds will be used to scale up the activities of IndiaMART and Tolexo.[28]

Awards

Recent matters

Indiamart fire: GDA checking if Raj Nagar building has permit for commercial use[31]

In August 2016, IndiaMART signed a MOU with Dr. A.P.J. Abdul Kalam Technical University, to promote skill development and equal employment opportunities to the affiliated colleges via pool-campus placement drives.[32]

References

  1. 1 2 "IndiaMART targets Rs. 30k cr biz in FY16". Business Line. 22 July 2015. Retrieved 8 January 2016.
  2. ↑ "IndiaMART's New TVC Featuring Irrfan Khan #AaramKiTune". 21 November 2014. Retrieved 10 January 2016.
  3. ↑ Payal Ganguly (29 June 2015). "IndiaMart ropes in Mudit Khosla to cater to sourcing needs of large companies". Times of India. Retrieved 27 January 2016.
  4. ↑ Disha Sharma (4 January 2016). "Indiamart's Agarwal backs office products portal ProcMart". VCCircle. Retrieved 27 January 2016.
  5. ↑ Varun Jain (16 September 2015). "Indiamart eyes Rs 2,000 cr revenue by 2020". Indiatimes.com. Retrieved 27 January 2016.
  6. ↑ Ankita Rai (17 August 2015). "IndiaMART: Small business means big business". Business Standard. Retrieved 27 January 2016.
  7. ↑ "How Dinesh Agarwal built a Rs 200-crore firm IndiaMart from a seed capital of Rs 40,000". Indiatimes.com. 11 August 2014. Retrieved 27 January 2016.
  8. ↑ "Indiamart aims to facilitate business worth Rs 30,000 cr in FY16". Financial Express. 2 August 2015. Retrieved 27 January 2016.
  9. ↑ "Indiamart aims to facilitate biz worth Rs 30,000 cr in FY16". Business Standard. 2 August 2015. Retrieved 27 January 2016.
  10. ↑ Ashish K Tiwari (6 April 2015). "IndiaMART.com simplifies online search for business users". Daily News & Analysis. Retrieved 27 January 2016.
  11. ↑ "IndiaMART clocks a whopping 60 percent business from its mobile app". Business Standard. 17 December 2015. Retrieved 27 January 2016.
  12. ↑ "How Dinesh Agarwal created the world's second-largest B2B marketplace Indiamart". Indiatimes.com. 27 April 2012. Retrieved 27 January 2016.
  13. ↑ "IndiaMART clocks a whopping 60 percent business from its mobile app". Business Standard. 17 December 2015. Retrieved 27 January 2016.
  14. ↑ "Low cost online marketing catching up among SMEs: IndiaMART". Indian Express. 1 February 2012. Retrieved 27 January 2016.
  15. ↑ PARAMITA CHATTERJEE, RADHIKA P NAIR (7 May 2011). "Warburg Pincus in talks with IndiaMart for Rs 150 crore investment". Times of India. Retrieved 27 January 2016.
  16. ↑ "Indiamart to raise Rs 100cr". Moneycontrol. 21 January 2011. Retrieved 27 January 2016.
  17. ↑ "IndiaMART's Biztradeshows Acquires PlayCez". 23 August 2013. Retrieved 27 January 2016.
  18. ↑ Sohini Das (7 June 2015). "IndiaMart extends into e-commerce through Tolexo.com". Business Standard.
  19. ↑ Priyanka Pani. "Tolexo.com sets $1-billion sales target". The Hindu. Retrieved 27 January 2016.
  20. ↑ "IndiaMART to invest Rs 100 crore in Tolexo by March 2016". Indiatimes.com. 22 November 2015. Retrieved 27 January 2016.
  21. ↑ Manu P Toms (17 April 2015). "IndiaMART initiates talks with big investors to raise funding for Tolexo". Vccircle.com. Retrieved 27 January 2016.
  22. ↑ IndiaMART ropes in actor Irrfan Khan
  23. ↑ Anusha Soni (2 August 2014). "Indiamart prepares to go public next year". Business Standard. Retrieved 27 January 2016.
  24. ↑ "IndiaMART targets Rs. 30k cr biz in FY16". The Hindu. Retrieved 27 January 2016.
  25. ↑ Times News Network (15 January 2009). "IndiaMart.com gets funds from Intel Capital". Times of India.
  26. ↑ "IndiaMart.com gets funds from Intel Capital". Times of India. 14 January 2009. Retrieved 27 January 2016.
  27. ↑ N Sundaresha Subramanian (July 16, 2015). "Rs 1 crore a day is not far away for PE-backed Indiamart". Business Standard. Retrieved 27 January 2016.
  28. ↑ "Indiamart raises Series C funding from Amadeus Capital, WestBridge & others". VCCircle. 9 March 2016. Retrieved 3 June 2016.
  29. ↑ IndiaMART Buy Leads Declared Undisputed Leader of Innovation in Online Space at Manthan Awards 2013 Manthan Award Dec 2013, 2014 Archived September 23, 2014, at the Wayback Machine.
  30. ↑ Red Herring 100 Asia herring research.com Archived May 13, 2013, at the Wayback Machine.
  31. ↑ "Indiamart fire: GDA checking if Raj Nagar building has permit for commercial use". 2016-05-17. Retrieved 2016-05-17.
  32. ↑ "IndiaMART, AKTU sign MoU to boost skill development". Business Standard. 27 August 2016. Retrieved 31 August 2016.
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