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IndiaMART

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IndiaMART.com
Company typePrivate Company
IndustryInternet Marketing
Founded1996
FounderDinesh Agarwal, Brijesh Agrawal
Headquarters7th & 8th Floors, Advant-Navis Business Park, Sector 142, Noida, Uttar Pradesh, India,
Noida
,
India
Area served
Worldwide
RevenueIncrease ₹ 225 crore FY2014,(CAGR 35%) [1]
Number of employees
2600
SubsidiariesTolexo
Websitewww.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 founded the website IndiaMART.com,[4] a business-to-business portal to connect Indian manufacturers with buyers.[5][6] 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 portal Tolexo, features industrial and office goods and supplies.[14][15] The company is headquartered in Noida, India. It is backed by Intel Capital of $10 million Series A round in 2009.[16][17] The company claims to have 1.5 million suppliers listed on its website, with around 10 million buyers visiting the online platform every month.[18][19]

History

IndiaMART was founded by Dinesh Agarwal[20] as a directory of websites his company InterMESH (which was started in 1996), was developing for customers in the Delhi-NCR region.[21] In 1998, the second office of IndiaMART InterMESH Ltd. was set up in Mumbai and by 1999, the directory had more than 1000 listing.[22]

In early 2009, the firm received an undisclosed amount of funding from Intel Capital, a part of which was invested in IndiaMART One97 Communications and Global Talent Track. [23] At present, IndiaMART employs more than two thousand employees in the major cities in India. In August 2013, it acquiried the local event discovery app Playcez to focus on the mobile business.[24]

In June 2014, IndiaMART launched Tolexo, an e-commerce platform for SMEs.[25][26] In November 2014, IndiaMART started promotional campaigns featuring Indian film actor Irrfan Khan as its brand ambassador.[27]

Events

In 2010, IndiaMART and financial news channel ET Now started IndiaMART Leaders of Tomorrow Awards in order to recognize the impact of SMEs (small and medium enterprise) in sustaining economic growth, increasing trade, generating employment and creating new entrepreneurs in India.[28] In association with Zee Business, IndiaMART also launched Emerging Business Forum, to provide with solutions to issues faced by Indian SMEs.[29]

Awards & Nominations

  • Manthan Award 2013 for Buy Leads Under E-Business & Financial Inclusion Category [30]
  • Red Herring 100 Asia 2008 [31]
  • Emerging India Award 2008 (second runner-up) [32]

References

  1. ^ "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. ^ "IndiaMART to invest Rs 100 crore in Tolexo by March 2016". Indiatimes.com. 22 November 2015. Retrieved 27 January 2016.
  15. ^ Manu P Toms (17 April 2015). "IndiaMART initiates talks with big investors to raise funding for Tolexo". Vccircle.com. Retrieved 27 January 2016.
  16. ^ "IndiaMart.com gets funds from Intel Capital". Times of India. 14 January 2009. Retrieved 27 January 2016.
  17. ^ 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.
  18. ^ Anusha Soni (2 August 2014). "Indiamart prepares to go public next year". Business Standard. Retrieved 27 January 2016.
  19. ^ "IndiaMART targets Rs. 30k cr biz in FY16". The Hindu. Retrieved 27 January 2016.
  20. ^ "Low cost online marketing catching up among SMEs: IndiaMART". Indian Express. 1 February 2012. Retrieved 27 January 2016.
  21. ^ 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.
  22. ^ "Indiamart to raise Rs 100cr". Moneycontrol. 21 January 2011. Retrieved 27 January 2016.
  23. ^ Times News Network (15 January 2009). "IndiaMardfdst.com gets funds from Intel Capital". Times of India. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  24. ^ "IndiaMART's Biztradeshows Acquires PlayCez". 23 August 2013. Retrieved 27 January 2016.
  25. ^ Sohini Das (7 June 2015). "IndiaMart extends into e-commerce through Tolexo.com". Business Standard. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  26. ^ Priyanka Pani. "Tolexo.com sets $1-billion sales target". The Hindu. Retrieved 27 January 2016.
  27. ^ IndiaMART ropes in actor Irrfan Khan
  28. ^ Leaders of Tomorrow
  29. ^ Emerging Business Forum
  30. ^ IndiaMART Buy Leads Declared Undisputed Leader of Innovation in Online Space at Manthan Awards 2013 Manthan Award Dec 2013, 2014
  31. ^ Red Herring 100 Asia herring research.com
  32. ^ Indiamart.com among top 3 at Emerging India awards, The Times of India
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