IndiaMART Crosses 100,000 Premium Customers Milestone
New Delhi, September 23, 2015: Riding on customer delight through need-sensitive, customized and innovative initiatives, IndiaMART — a leading Indian Online Market place connecting buyers and suppliers — has successfully accomplished 1 lakh premium customers mark 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 July 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.”
IndiaMART 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 e-marketplace leader has now set its eyes on a new market segment – buying & selling needs of big brands.
Dinesh Gulati, Director, IndiaMART, said: “We have 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 crore in 365 days this year and take it to Rs. 2000 crore 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 programme, an integral part of Vision 2.0, will be a major growth area for the online marketplace which initially built the Rs 200 crore business by catering to small and medium enterprises. Currently, IndiaMART has about 1 crore buyers, 15 lakh suppliers, 3.5 crore products listed on its platform.
Founded in 1996, IndiaMART connects 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. It has over 3000 employees located across 55+ offices across the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd.