New Delhi/Bangalore, 7th May: Indian B2B e-commerce platform IndiaMart.com is reportedly engaged in advanced-stage talks with global private equity fund Warburg Pincus. IndiaMart will reportedly receive an investment of US$33.4 million in exchange for a 10%-20% stake in the company. IndiaMart.com has previously received US$10 million from Intel Capital in 2008, and approximately US$3.5 million from Bennett, Coleman & Co Ltd in 2007 – at undisclosed valuations.
Established in 1996, IndiaMart.com claims to have over two million registered users and 2010 revenues of roughly US$25 million. The company’s revenues are generated through user subscriptions for various types of online directory listing services.
Source: Business Strategies Group Hong Kong www.bsgasia.com