IndiaMART, is now a India-based global company

The Economic Times,

They refrained from throwing red-herrings since the time they had started on the path of becoming the country’s largest B2B portal. Debasish Roy sits on the sidelines and watches as Indiatimes takes home the Red Herring award

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IndiaMART.com, India’s largest online B2B marketplace, has won the coveted “Red Herring 100 Asia” award. This recognizes IndiaMART.com in the 100 most innovative private technology companies based in Asia. Accepting the award, Dinesh Agarwal, founder and CEO of IndiaMART.com, said, “We are honored to have won this prestigious award for our role in transforming online B2B landscape in India. This recognizes the success and hard work of IndiaMART.com team to date. We also like to share this award with our buyer and supplier members, whose success at using the power of our online B2B marketplace to connect with business partners worldwide, driving sales and tapping new markets has set a new era in online B2B space in India.”

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The Red Herring 100 Asia is an exclusive event honoring 100 cuttingedge private technology firms from Asia. The winners were selected from more than 1,000 companies based in 16 countries including China, India, Japan, Singapore, Korea, Australia and Vietnam. The nominees for the awards were evaluated on both quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their ecosystem.

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“Our winners and finalists demonstrate that Asia is increasingly becoming a leader in innovation, contrary to common stereotypes,” said Joel Dreyfuss, editor-in-chief of Red Herring. “It was tough to choose just the top 100 finalists from such a large list of excellent contenders, and we are very happy with the quality of the companies we selected as finalists.”

The 100 winning companies were announced at the Red Herring Asia event in Hong Kong on December 3. The CEOs of the winning startups presented their innovative ideas and technologies to an audience of leading entrepreneurs, financiers, and corporate strategists at an event held at the Hong Kong JW Marriott Hotel earlier this week.

IndiaMART.com is India’s largest online B2B marketplace bringing Indian suppliers and international buyers together. Established in 1996, IndiaMART.com is an ISO certified company with state-of-the-art webdevelopment center which is one of the largest in the world. With 900 employees and a network of 29 offices pan-India, IndiaMART.com offers value service to its 500,000 members and over five million global buyers.

With last financial year revenues at $9.5 million IndiaMART has grown at over 50 per cent CAGR for the last 5 years. IndiaMART.com has been profitable all through the 12 years of its operations. IndiaMART’s online success has been widely acknowledged by media such as CNBC, BBC, Business Money, CNN, Businessworld, Economic Times, Financial Express etc. Amongst its investors is Bennett, Coleman & Co. Ltd. (Times of India Group), India’s largest print media group. Bennett, Coleman & Company is the owner of the Economic Times newspaper.

Red Herring is a global media company, which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy.

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