IndiaMART

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IndiaMART InterMESH Ltd. is an Indian e-commerce company that provides B2B and customer to customer sales services via its web portal.[1] The group began in 1996 when Dinesh Agarwal and Brijesh Agrawal founded the website IndiaMART.com,[2] a business-to-business portal to connect Indian manufacturers with buyers.[3][4] The company is headquartered in Noida, Uttar Pradesh, India.

IndiaMART had an aggregate of 32.5 crore (325.8 million), 55.2 crore (552.6 million) and 72.3 crore (723.5 million) visits in fiscals 2017, 2018 and 2019, respectively, of which 20.4 crore (204.8 million), 39.6 crore (396.9 million) and 55 crore (550.3 million) were mobile traffic, which is 63%, 72% and 76% of total traffic, respectively.[5] Currently the IndiaMART app has more than 1 crore (10 million) downloads with a 4.7 App rating on Android.[6]

IndiaMart's revenue registered a 29% CAGR over FY 2014–19 to ₹507 crore while it reported a net profit of ₹20 crore in FY19, according to a note from Angel Broking.[7] It has zero debt and sizeable cash balance. As of March 31, 2019, the company had 8.27 crore (82.70 million) registered buyers and had 55.5 lakh (5.55 million) supplier storefronts in India and expect to maintain a compounded annual growth rate (CAGR) of 29 per cent for the next two years.[8]

In 2016 and 2019, IndiaMART invested in ProcMart and Vyapar.[9][10]

IndiaMART was the first company to test the IPO market in the Modi Government’s Second tenure.[11]

Background

The cousins, Dinesh Agarwal and Brijesh Agrawal [12] launched IndiaMART as a directory of the websites for customers in the Delhi-NCR region.[13] At that time India had only 15,000 internet users.[14] By 1999, the directory had more than 1000 listings.[15]

After overcoming the dot-com bust, in 2008–2009, when the recession hit US, the company decided to pivot the focus from export oriented business to India-focused B2B market and raised $10 million from Intel Capital.[16]

In November 2014, IndiaMART started promotional campaigns featuring Indian film actor Irrfan Khan as its brand ambassador.[17]

Over the last ten years, IndiaMART has become the largest e-commerce platform for businesses with about 60% market share,[18] according to research firm KPMG. It handles 97,000 product categories — ranging from machine parts, medical equipment and textile products to cranes, from thousands of towns and cities of India.[18] Agfa HealthCare India, Case New Holland Construction Equipment (India), Hilti India, JCB India and Nobel Hygiene are a few big suppliers on the company's marketplace.[19]

In 2019, IndiaMART went public,[20] and it was by far the first online B2B marketplace to go public.[21] IndiaMART opened IPO to raise over ₹474 crore[22] at a price brand of ₹970- ₹973[23] on the 24th of June, 2019. IndiaMART IPO was fully subscribed by Day 2,[24] and was oversubscribed by 36 times by the end of the final day of the biding.[24]

Funding

In early 2009, the firm received ₹50 crore Series A round funding from Intel Capital, a part of which was invested in IndiaMART, One97 Communications and Global Talent Track.[25][26][27] In March 2016, it raised Series C Funding from Amadeus Capital Partners and Quona Capital. It is claimed that these funds will be used to scale up the activities of IndiaMART and Tolexo.[28] In June 2018 IndiaMART has filled draft papers with SEBI to raise $88.24 million through IPO and list on NSE and BSE exchange.[29]

Board Of Directors

  • Mr. Dinesh Agarwal - Managing Director, Executive Director[30]
  • Mr. Brijesh Kumar Agarwal - Whole Time Director[31]
  • Mr. Dhruv Prakash - Non-Executive Director[32]
  • Ms. Elizabeth Lucy Chapman - (Non Executive Independent Director)[33]
  • Mr. Vivek Narayan Gour - (Non Executive Independent Director)[34]
  • Mr. Rajesh Sawhney - (Non Executive Independent Director)[35]

Awards

  • Nominated among the top three at Emerging India Awards 2008[36]
  • Red Herring 100 Asia Awards 2008[37]
  • Manthan Award 2013 for Buy Leads Under E-Business & Financial Inclusion Category [38]
  • IndiaMART Bags Best Business App Award at GMASA 2017 [39]
  • ‘Best Business App’ at Drivers of Digital Summit & Awards, 2018[40]
  • ‘Best Online Classified Website’ at Drivers of Digital Summit & Awards, 2018[41]
  • ‘Best Online Classified Application’ at Drivers of Digital Summit & Awards, 2018[40]
  • India Law Awards 2019 for ‘Technology, Media and Telecommunication In-House Legal Team' [42]
  • ‘Video Content in a Business Website- Special Mention’ at Video Media Awards and Summit 2019[43]

In November 2020, IndiaMART filed a copyright infringement lawsuit against Justdial before the Delhi High Court on allegations of copying website compilations for the proposed JD Mart business-to-business marketplace.[44][45]

References

  1. ↑ IndiaMart ropes in Mudit Khosla to cater to sourcing needs of large companies. Times of India(29 June 2015). Retrieved 27 January 2016.
  2. ↑ Indiamart's Agarwal backs office products portal ProcMart. VCCircle(4 January 2016). Retrieved 27 January 2016.
  3. ↑ Indiamart eyes Rs 2,000 cr revenue by 2020. Indiatimes.com(16 September 2015). Retrieved 27 January 2016.
  4. ↑ IndiaMART: Small business means big business. Business Standard(17 August 2015). Retrieved 27 January 2016.
  5. ↑ INDIAMART INTERMESH LTD. (INDIAMART) - COMPANY HISTORY. Business Standard. Retrieved 3 October 2019.
  6. ↑ IndiaMART App Crosses 10 Million Downloads and is Rated 4.6 Stars by Users on Google Play Store. Press Trust Of India(30 April 2019). Retrieved 3 October 2019.
  7. ↑ IndiaMart expects 29% CAGR revenue growth in next 2 years(21 April 2019). Retrieved 12 October 2019.
  8. ↑ IndiaMart expects 29 pc CAGR revenue growth in next 2 yrs(21 April 2019). Retrieved 11 October 2019.
  9. ↑ IndiaMART Invests In B2B Marketplace ProcMart, aparnamishra.06. Inc42 Media(2016-06-21). Retrieved 2020-07-15.
  10. ↑ IndiaMART leads Series A investment in Vyapar, S.H, Salman. livemint.com(2019-09-03). Retrieved 2020-07-15.
  11. ↑ Indiamart set to become first firm to test IPO market under Modi 2.0(18 June 2019). Retrieved 10 October 2019.
  12. ↑ B2B ecommerce marketplace IndiaMart posts profit of Rs 31.4 Cr in first quarter of FY20(1 August 2019). Retrieved 9 October 2019.
  13. ↑ IndiaMART To Stream 50% of Revenue from Big Brands by 2020(21 February 2017). Retrieved 13 October 2019.
  14. ↑ ‘Dot-com bust was the best thing that happened to us’(22 July 2019). Retrieved 12 October 2019.
  15. ↑ Indiamart to raise Rs 100cr via PE route(21 January 2011). Retrieved 10 October 2019.
  16. ↑ IndiaMart.com gets funds from Intel Capital(15 January 2009). Retrieved 9 October 2019.
  17. ↑ IndiaMART ropes in actor Irrfan Khan as brand ambassador(18 November 2014). Retrieved 11 October 2019.
  18. ↑ 18.0 18.1 A 23-year-old B2B company has shown how keen India is for tech IPOs IndiaMART is the first business-to-business e-commerce firm to go public in India(6 July 2019). Retrieved 15 October 2019.
  19. ↑ IndiaMART InterMESH LIMITED(17 June 2019). Retrieved 13 October 2019.
  20. ↑ IndiaMART IPO opens on Monday; here’s what you need to know(21 June 2019). Retrieved 13 October 2019.
  21. ↑ IndiaMart becomes first Indian B2B online market place to go public(24 June 2019). Retrieved 11 October 2019.
  22. ↑ IndiaMart IPO opens, to raise over Rs 474 crore(24 June 2019). Retrieved 12 October 2019.
  23. ↑ IndiaMart IPO opens at price range of Rs 970-Rs 973(24 June 2019). Retrieved 13 October 2019.
  24. ↑ 24.0 24.1 IndiaMART InterMESH IPO Fully Subscribed On Day 2(26 June 2019). Retrieved 8 October 2019.
  25. ↑ IndiaMart.com gets funds from Intel Capital. Times of India(15 January 2009).
  26. ↑ IndiaMart.com gets funds from Intel Capital. Times of India(14 January 2009). Retrieved 27 January 2016.
  27. ↑ Rs 1 crore a day is not far away for PE-backed Indiamart. Business Standard(July 16, 2015). Retrieved 27 January 2016.
  28. ↑ Indiamart raises Series C funding from Amadeus Capital, WestBridge & others(9 March 2016). Retrieved 3 June 2016.
  29. ↑ IndiaMART Files Draft Papers To Raise $88.24 Mn(3 July 2018). Retrieved 3 July 2018.
  30. ↑ Mr.Dinesh Chandra Agarwal - Profile. nseprimeir.com. Retrieved 10 October 2019.
  31. ↑ Mr.Brijesh Kumar Agrawal - Profile. nseprimeir.com. Retrieved 10 October 2019.
  32. ↑ Mr.Dhruv Prakash - Profile. nseprimeir.com. Retrieved 10 October 2019.
  33. ↑ Ms.Elizabeth Lucy Chapman - Profile. nseprimeir.com. Retrieved 10 October 2019.
  34. ↑ Mr.Vivek Narayan Gour - Profile. nseprimeir.com. Retrieved 10 October 2019.
  35. ↑ Mr.Rajesh Sawhney - Profile. nseprimeir.com. Retrieved 10 October 2019.
  36. ↑ IndiaMART.com nominated among top 3 at Emerging India Awards '08. Economic Times(3 July 2008). Retrieved 16 September 2019.
  37. ↑ Indiamart.com wins Red Herring 100 Asia Award. Exchange4Media(11 December 2008). Retrieved 11 September 2019.
  38. ↑ IndiaMART Buy Leads Declared Undisputed Leader of Innovation in Online Space at Manthan Awards 2013 Manthan Award Dec 2013, 2014 Template:Webarchive
  39. ↑ IndiaMART Bags Best Business App Award at GMASA 2017
  40. ↑ 40.0 40.1 [1]
  41. ↑ [2]
  42. ↑ Welcome to the Inaugural ALB India Law Awards 2019!. Legal Business Online(27 February 2019). Retrieved 18 September 2019.
  43. ↑ VIDEO IN WEBSITE AWARDS. Video Awards Online(18 April 2019). Retrieved 20 September 2019.
  44. ↑ Indiamart, JD in legal war over copyright violations, Bhalla, Madhurima Nandy,Tarush. mint(2020-11-18). Retrieved 2020-12-17.
  45. ↑ Clash of Marts | Lexology. www.lexology.com. Retrieved 2020-12-17.
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