Sets target of Rs 2,000-crore revenue by 2020
Special focus on catering to Big Brands’ sourcing and selling requirements
New Delhi, September 23, 2015: Riding on customer delight through need-sensitive, customised and innovative initiatives, IndiaMART — India’s largest Online Market place connecting buyers and suppliers — has accomplished 1 lakh premium customers on its online platform.
IndiaMART’s journey to the milestone achievement has been steady, often challenging, yet momentous. From April 2006, with about 10,000 premium customers online, the journey to 50,000 till April 2014 was painstaking, what with economic slowdown and inflation dogging businesses.
Since April 2014, the paid-customer size saw a steep and steady twin-fold rise. Regular and timely innovative adaptations enabled IndiaMART harness the advantages of rising internet penetration & proliferation of smart devices. The milestone is best described a phenomenon never seen before in the e-commerce ecosystem.
Mr Dinesh Agarwal, Founder and CEO, IndiaMART said, “I am extremely pleased to announce the milestone and I would like to thank everyone associated with us who have helped us reach this important landmark. 100,000 Premium Customers marks a watershed moment in our journey to become the undisputed e-marketplace leader. We will continue to innovate and grow to serve our customers in newer and better ways.”
The e-marketplace leader has been empowering MSMEs and unrelenting in innovating to add to their customers’ profitability. The brand is recognised for its pioneering role in the Internet business for inclusive growth and has mentored over 2 million MSMEs across India since its launch in 1996. The brand has now set its focus on a new market segment – buying & selling needs of big brands.
Mr Dinesh Gulati, Director, IndiaMART, said: “We have now recalibrated our strategy to enhance our focus on the big businesses. This will lend a fillip to our vision of IndiaMART 2.0, wherein we are looking at net revenue of Rs 365 Cr in 365 days this year and take it to Rs. 2000 Cr by 2020. With our Big Brands initiative, we are moving from the motto of ‘More buyers, More Sellers and More Business’ to ‘Big Buyers, Big Sellers and Big Business’. We are now focusing to cater to the procurement needs of bigger businesses and bigger orders.”
IndiaMART’s Big Brands program, an integral part of Vision 2.0, will be a major growth area for the online marketplace which has largely built its Rs 200 crore business by focusing on small and medium enterprises. Currently, IndiaMART has about 1 Cr buyers, 15 Lac suppliers, 3.5 crore products listed on its platform.
IndiaMART is India’s largest online marketplace, connecting buyers with suppliers. The company offers a platform and tools to over 14 million buyers to search from over 25.7 million products and get connected with over 1.8 million reliable and competitive suppliers. Founded in 1996, the company’s mission is ‘to make doing business, easy’. The company has over 3000 employees located across 55+ offices in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd.
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