Updated: Nov 19, 2019
Indiamart.com, one of the largest online listing platforms for small and medium businesses and provides B2C, B2B and customer to customer sales services via its web portal. This business-to-business portal to connect Indian manufacturers with buyers.In 2014, IndiaMART's portal handled 200 crore in revenue and 20,000 crore in sales. IndiaMART was India's largest online marketplace and world's second-largest B2B marketplace after Alibaba.(According to a news in Economic Times, as of 2012).
Ten amazing things about IndiaMART you need to know about:
1) The company was founded in 1996 by Dinesh Agarwal, a former senior system analyst at HCL Technologies. Agarwal did his engineering from Harcourt Butler Technological Institute, Kanpur in 1990 and went to the US to work for HCL in 1992.
2) In 2000, IndiaMart had 100 employees on board and today the ecommerce company has over 3,100 employees located across 65 offices in the country.
3) As on June 2016, IndiaMART maintained itself as cash-positive business that has grown at a CAGR (compounded annual growth rate) of 40 per cent over the last five years. Its revenue exceeded Rs 300 crore in the previous fiscal with a gross merchandise volume of about Rs 30,000 crore.
4) In early 2009, the firm received 50 crore Series A round funding from Intel Capital.The existing investors include Intel Capital, Amadeus Capital, WestBridge Capital and Quona Capital. It also raised It raised Rs.15 crore from Bennett, Coleman & Company Ltd (BCCL) in 2007.
5) The company got its first order from restaurant chain Nirulas. It managed to rope in 45 customers by March 1997 and the financial year ended with Rs.6 lakh in revenue and now It offers a platform and tools to over 2.6 crore buyers to search from over 3.3 crore products and get connected with over 22 lakh competitive suppliers.
6) IndiaMart built their own payment gateway for suppliers and buyers.
7) In March 2002 Company's growth was the slowest with the turnover Rs.3.25 crore but by 2006 the company’s growth momentum was back on track. It reported Rs.18 crore revenue with Rs.5-6 crore of profit. The valuation stood at Rs.200 crore.
8) In early days Mr. Dinesh Agarwal raised Rs.1.6 crore from friends, family, employees and through a bank loan to build IndiaMart’s own campus.
9) indiamart.com domain was bought for $135.
10) In Nov 2014 IndiaMART made actor Irrfan Khan as it's brand ambassador.
11) IndiaMART also launched e-commerce marketplace Tolexo.com. This e-com marketplace also enables businesses to list their entities and consumers to buy various items through the platform.
Infibeam was the first Indian online retailer to go public through an IPO in March. The offer was oversubscribed 1.1 times. Since listing in April, Infibeam shares have gained about 20 per cent. As per data Indian B2B is expected to be around $700Billion by 2020 which means that there is immense opportunity for various players to operate and grow. Currently, the market size is around $400 Billion. IndiaMART alone accounts for a business of more than $6Billion. Hence, there is no dearth of opportunity in the B2B space.
Robust growth and better future prospect may attract investors to reap big out of this e-commerce giant.The company’s revenues for the financial year 2016 was Rs 300 crore, up 40 percent from 2015. The 3,500-employee team raised three rounds of funding: the first one was $3million, the second one a $10-million round and the recent series-C was an undisclosed round from Amadeus Capital.