We Want to Be B2B Media Than Only A B2B Marketplace
Indiamart.com which began as a query-forwarding service for Indian exporters in 1996 is now the leading online B2B marketplace, generating $1-billion worth of B2B sales annually for its members. It generates 500,000 business enquiries for its members every month, features over 10,00,000 suppliers in 50,000 product categories and has50 offices across India. It is also one of the few internet companies which managed to survive- and even flourish in the doctom carnage of 1999. In a video interview with VCCircle, Dinesh Agarwal, founder, Indiamart.com talks on how he built the high growth company. Agarwal says that he is more of a COO than a CEO and does'nt like to lose the handle of the "real work" in the company.
Indiamart, essentially, acts an "aggregator" that serves as a go-between. The Indiamart platform comprises of online B2B marketplace Indiamart.com, Indiamart Sourcing guides, international trade shows and promotion on internet. The business model of Indiamart.com is comparable to the likes of Alibaba.com, an e-commerce company that has established a global reputation as a major player in bringing buyers and sellers together in cyberspace or Global Sources in China and ECeurope, which is focused on Asian business. In 2008, it raised $10 million for a 14% stake from Intel Capital India Technology Fund and $3.4 million for about 5% stake from Brand Equity Treaty Ltd (Times Private Treaties) in 2007.