IndiaMART eyes Rs 2,000 cr revenue by 2020

Online marketplace IndiaMART aims to garner revenues to the tune of Rs 2,000 crore by 2020 as it brings more small and medium businesses as well as larger merchants on its platform.
The company, which claims to have 15 lakh suppliers on its platform, also said it has hit a milestone of one lakh premium customers.
"The 1,00,000 premium customers marks a watershed moment in our journey towards becoming a e-marketplace leader... We have recaliberated our strategy to enhance our focus on the big business. This will lend a fillip to our vision of IndiaMART 2.0," IndiaMART founder and CEO Dinesh Agarwal told PTI.

He added that the company aims to garner revenues of Rs 365 crore during the ongoing fiscal.
"The SME bit of the business will expand to Rs 1,000 crore by 2020. At the same time, we have identified 10,000 big businesses that have with us and also use our platform regularly. The Big Brands intiative should add another Rs 1,000 crore by 2020," he said.
Agarwal said the seller base on its platform has doubled over the last 18 months and the company expects the trend to continue.

"There are about 50 million SMEs in India and very few are online. There is a huge potential in the market. We expect our seller base as well as the premium customer base to double in the next year and a half," he added.

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.