IndiaMART.com has won the coveted “Red Herring 100 Asia” award. This recognizes IndiaMART.com in the 100 most innovative private technology companies based in Asia.
Accepting the award, Dinesh Agarwal, Founder & CEO of IndiaMART.com said, “We are honored to have won this prestigious award for our role in transforming online B2B landscape in India. This recognizes the success and hard work of IndiaMART.com team to date. We also like to share this award with our buyer and supplier members, whose success at using the power of our online B2B marketplace to connect with business partners worldwide, drive sales and tap new markets has set a new era in online B2B space.”
The Red Herring 100 Asia is an exclusive event honoring 100 cutting-edge private technology firms from Asia. The winners were selected from more than 1,000 companies based in 16 countries including China, India, Japan, Singapore, Korea, Australia and Vietnam. The nominees for the awards were evaluated on both quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their ecosystem.
“Our winners and Finalists demonstrate that Asia is increasingly becoming a leader in innovation, contrary to common stereotypes,” said Joel Dreyfuss, editor-in-chief of Red Herring.” It was tough to choose just the top 100 finalists from such a large list of excellent contenders, and we are very happy with the quality of the companies we selected as finalists.”
The 100 winning companies were announced at the Red Herring Asia event in Hong Kong on Dec 03. The CEOs of the winning startups presented their innovative ideas and technologies to an audience of leading entrepreneurs, financiers, and corporate strategists at an event held at the Hong Kong JW Marriott Hotel earlier this week.
IndiaMART.com is India’s largest online B2B marketplace bringing Indian suppliers and international buyers together. Established in 1996, IndiaMART.com is an ISO certified company with state-of-the-art web-development center which is one of the largest in the world. With 900 employees and a network of 29 offices pan-India, IndiaMART.com offers value service to its 500,000 members and over 5 million global buyers.
With last financial year revenues at US$ 9.5 million the company has grown at over 50% CAGR for the last 5 years. IndiaMART.com has been profitable all through the twelve years of its operations. IndiaMART’s online success has been widely acknowledged by media such as CNBC, BBC, Business Money, CNN, Businessworld, Economic Times, Financial Express etc. Amongst its investors stands tall the Bennett, Coleman & Co. Ltd. (Times of India Group), India’s largest print media group that has made a strategic investment in IndiaMART.com in 2006.