logo
close icon

IndiaMART shifts focus to buyers from sellers as it targets Rs 350 crore revenue this fiscal

The Economic Times

NEW DELHI: Business-to-business online marketplace IndiaMART, which connects buyers and suppliers, plans to focus on more than 10,000 companies that it has identified as “promising buyers”. The list includes companies such as HUL, Indian Oil Corporation, Reliance Industries and Tata Group which purchase commercial raw materials through the online platform and have a potential to generate revenue of Rs 100 crore for IndiaMART, director Dinesh Gulati said.

The company has set up a dedicated team of experts under the leadership of Mudit Khosla to handle enquiries on buying and selling from these clients, Gulati said.

The focus on buyers marks a strategic shift on part of Indiamart since the company has followed a seller-centric approach till now to expand its business. “They contribute less than 10% to our revenues but we see humungous potential in them and thus expect their share to go up to 25-30% of our existing portfolio,” said Gulati.

IndiaMART, which has been growing at 80% a year, is targeting revenue of Rs 350 crore in the current fiscal.

The B2B portal receives 7 million enquiries and has 1.7 million sellers in its list. Its mobile app generates 54% of the total traffic. The company plans to boost the number of mobile app downloads to 5 million from 2 million at present.

The recently launched e-commerce portal Tolexo, which caters to the demand of office materials such as power tools, LED lighting, safety shoes, etc., is also an add-on strategy to increase revenue, Gulati said.

Such initiatives require funds and the company is open to private equity or venture capital funds, he said. The company may even consider an initial public offering, he indicated.

According to analysts, IndiaMART could be valued at about Rs 1,000 crore.

Read more at http://articles.economictimes.indiatimes.com/2015-08-04/news/65204522_1_indiamart-buyers-and-suppliers-mobile-app

Latest Posts

Visual storytelling: Why does it matter now more than...

Posted on March 11, 2025

Nothing describes the importance of visuals than the saying – ‘A picture’s worth a thousand words. In an evolving ecommerce landscape, wherein searches are moving...

Read More

Moving Beyond Price: What all to look for in...

Posted on February 21, 2025

In today’s competitive business landscape, business owners and MSMEs are under constant pressure to provide the best quality at the lowest prices. This, sometimes, makes...

Read More

GST Jargons: We’ve got them simplified for you

Posted on February 12, 2025

The world of GST can be a confusing one, if you are just starting out as a business. Amidst the challenge of running and expanding...

Read More

IndiaMART Affiliate Programme: The side hustle you need

Posted on February 6, 2025

The rise of India’s content creator economy has been nothing less than revolutionary. From just 962,000 influencers in 2020, the creator economy has expanded to...

Read More