 "India Mart aims for Rs 2,000 crore revenue by 2020")
India Mart, online market place for connecting buyers and suppliers after achieving 100,000 premium customers on its online platform is planning to reach a revenue target of 2000 crore by 2020.
"Every day we get around 20,000 requests and in the last month alone we got half a million request for quotation in IndiaMart, ," said Dinesh Agarwal founder and CEO.
The company is planning a shift in their strategy by focusing on big brands in their platform.
A large number of SMEs from every part of India uses IndiaMart to buy the materials required for their business. But now with the new programme, which the company calls as big brands initiative, they are trying to involve major firms like Tata and Reliance as their premium customers.
"There will be 10,000 such big brands in our platform. And they require a very structured and you can say customised approach required for these brands." said Dinesh Gulati
"On India only around 25% SME have internet penetration. If it will be 50% IndiaMart will be benefitting along with them," Agarwal added. .
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Founded in 1996, IndiaMART claims that 3.5 crore products from about 15 lakh suppliers have been listed and about one crore buyers visit its platform.
It has over 3,000 employees located across over 55 offices in the country. Its existing investors include Intel Capital and Bennett, Coleman & Co Ltd.