IndiaMart targets revenue of Rs 2000 crore by 2020; tots 1 lakh customers


MUMBAI: Online market place IndiaMart has accomplished one lakh premium customers on its online platform and is looking at net revenues of Rs 2000 crore by the year 2020.

IndiaMart director Dinesh Gulati 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 businesses by catering to small and medium enterprises. Currently, IndiaMart has about one crore buyers, 15 lakh suppliers, 3.5 crore products listed on its platform.

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.

IndiaMart founder and CEO Dinesh Agarwal added, ?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 two million MSMEs across India since its launch in 1996.

Latest Reads

Reliance Jio to maintain ARPU lead over Airtel, Vodafone Idea

Indian telecom company, Reliance Jio, is most likely to maintain its lead on average revenue per user (ARPU) over its rivals Bharti Airtel and Vodafone Idea. The telco’s strategy in the market has paid off well by selectively choosing an inordinate share of 4G smartphone users and continuing to...

iWorld Over The Top Services
Netflix subscriptions to get cheaper in India

Netflix is tuning itself to India’s needs. Netflix chief product officer Gregory Peters said in an earnings call that the company will experiment with cheaper pricing models, betting on India to bring in its next 100 million subscribers for its long-term goal in a bid to increase its growth.

iWorld Over The Top Services
ZEE5 and PhonePe join hands for an amazing cashback offer

ZEE5, India’s largest multilingual entertainment destination, and PhonePe - India's fastest growing digital payments app have partnered to announce exciting offers on content for customers.

iWorld Over The Top Services
Jio and organised retail add to RIL's growth in second quarter

Mukesh Dhirubhai Ambani’s largest startup in the world in the form of Reliance Jio Infocomm Ltd or Jio has only gone from strength to strength since its inception. The mobile and broadband subsidiary of Reliance Industries Ltd (RIL), which is already the largest mobile data carrier in the world...

iWorld Telecom
Mukesh Ambani's RIL announces acquisition of majority stake in Hathway & DEN Networks

Reliance Industries Limited today announced the following strategic investments.

iWorld Telecom
Netflix adds 6.96 mn subscribers in Q3

After a disappointing Q2 result, global streaming giant Netflix has again beat all expectations in its Q3 earnings. Netflix has not only added 6.96 million subscribers in this quarter but it has reported $4 billion streaming revenue for the quarter which is up 36 per cent year over year.

iWorld Over The Top Services
RIL close to buying majority stakes in DEN, Hathway

Reliance Industries is expected to buy controlling stakes in two of India’s largest cable TV and broadband service providers

iWorld Telecom
ZEE5 appoints Taranjeet Singh asChief Revenue Officer& Business Head - New Projects

ZEE5 India, India's second largest OTT platform known for its muscle in multi-lingual content, today announced the appointment of Taranjeet Singh as the Chief Revenue Officer & Business Head – New Projects for the platform.

iWorld Over The Top Services
Netflix Q3 app revenue up 90% y-o-y

Netflix's financials show it had a strong Q3 on mobile. The app dramatically observed an upswing by generating gross $243.7 million which represented a 90 per cent year-on-year increase as compared to Q3 2017. The popular streaming app has surpassed an estimated $1.4 billion in total gross revenue...

iWorld Over The Top Services

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories