Dinesh Agarwal is one of the successful Indian entrepreneurs who is the founder and CEO of IndiaMart which is the largest online Business to Business (B2B) marketplace. He was born on 19 February 1969. He started his carrier working at CMC where he worked on first Railway Reservation system.
In 1992 Dinesh started working in HCL in the United States of America. He returned India in August 1995 where he started looking at opportunities related to the internet.
Then Agarwal finally decided to make a website that would work as an online marketplace which connects importer and exporters. In 2008 when the recession hit the US Dinesh decided to turn the focus from EXIM (Export and Import) to an open marketplace that can connect all the supplier’s manufacturers and retailers.
IndiaMart Business Model
- IndiaMart is an online marketplace that connects buyers and suppliers from all over India and International. IndiaMart is currently the number 3rd Business to Business Marketplace in the world.
- It is a platform that offers tools to more than 2.5 crore buyers to search for more than 4 crore products and 5.5 million competitive and reliable suppliers.
- The company offers both free as well as paid membership to the users. It has the option to upgrade an account as a paid membership to get high-end results and visibility.
- IndiaMart grew rapidly as a result of the increasing number of registration of buyers and suppliers.
- According to the company they have been growing between 50-65% since their commencement in 1996.
- The membership registration fees start from a monthly plan of Rs 3000 and go to a multi-year plan of Rs 75000 respectively.
- As of now the annual turnover of IndiaMart is around 403.5 crores and the revenue registered a 29% CAGR over FY 2014-19 to ₹507 crores while it reported a net profit of ₹20 crores in FY19, according to a note from Angel Broking. Its headquarters is in Noida Uttar Pradesh, India.
Competitors of the Company
- As of October IndiaMart has a revenue of $94M and 3,150 employees.
- Amadeus Capital Partners, Quona Capital, and Intel Capital are some of the investors of IndiaMart.