The IndiaMART Journey
The triumphant journey of Dinesh began just after his graduation. He started working for CMC and then C-Dot. After a short stint in India, he joined HCL technologies and moved to the US in 1992, which was the ultimate goal of tech graduates in the early 90s. However, the day India announced the launch of the Internet on August 15, 1995; he decided to quit his job with HCL Technologies and move back home to build something of on his own.
Upon returning to India, he started his entrepreneurial journey from a house in Patparganj, Delhi. His company started with the development of a business website for enterprises, which had started growing rapidly in 1998. Following the initial success of his company, he moved from proprietorship to a limited company in 1999.
Subsequently, the business grew at a very rapid pace. Under Dinesh’s leadership IndiaMART became a pre-eminent B2B online marketplace which has a deep base in Tier 1 and 2 cities and has profusely penetrated not only Tier-III and IV cities but rural India as well. Today, it has around 60% market share of the online business classifieds space in India. The company has expanded to all the major cities and towns across the country with customers from all around the world.
The company has 100 million registered buyers and 5.7mn suppliers who display about 63 million products.
The IndiaMART Initial Public Offer (IPO) was launched on June 24, 2019, and it was oversubscribed 36 times over, denoting the value and goodwill the company has in the minds of people. Today, due to the relentless efforts of Dinesh, IndiaMART, a 23-year-old company that was set up at the height of the ‘dot com’ boom and went on to survive the bust, has now become one of the most valued brands in the country.
After the IPO, IndiaMART has expanded its business presence even further and has added large corporate entities to display their offerings on the IndiaMART platform. With more than 1000 big brands now listing their businesses on the platform IndiaMART has truly become ‘the marketplace of India’.
From the very beginning Dinesh wanted to create a long-lasting legacy, ‘a forever company’ in which he stupendously succeeded. He wanted IndiaMART to be the backbone of the Indian economy, and today, business deals of around half a per cent of India’s GDP are being done through IndiaMART platform.