IndiaMART Achieves 100,000 Premium Customers Milestone
IndiaMART, one of India’s largest online market places that connects buyers and suppliers, has accomplished one lakh premium customers on its online platform.
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“100,000 premium customers mark 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," said Dinesh Agarwal, Founder and CEO, IndiaMART.
Founded in 1996, IndiaMART has been profitable from the beginning even in dot com carnage of 2000 and 2007. During the downturn, from 10,000 paid customers in April 2006, the company increased to 50,000 in July 2014. Since then the company has been focusing on MSME clients and has enabled two million MSMEs grow their business by facilitating buyers to meet the right suppliers.
The company informs they intend to reach revenue of Rs 365 crore this year and take it to Rs 2,000 crore by 2020. For that they are now focusing on getting big businesses as their customers.
“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,” said Dinesh Gulati, Director, IndiaMART.
For that they have identified 10,000 big businesses that use their platform and will aggressively target to fulfill all their purchase needs, says Agarwal.
IndiaMART claims it has about one crore buyers who visit the platform to see 15 lakh suppliers and 3.5 crore products listed on its platform.
The company has over 3000 employees located across 55+ offices in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd.