Indiamarkets.com launched

BANGALORE: The Bangalore-based IMO Communications Pvt Ltd has launched

indiamarkets.com, a business-to-business Web site in India. This new B2B website

offers online content and e-commerce enabled services with a range of services

for the business community, including supplier listings, auctions for surplus

inventory, used machinery and industrial assets. The website is an aggregation

of vertical supplier communities representing over 130 different product

categories.

Acccording to Rohan Ajila, Managing Director, IMO Communications, "The

site has an extensive repository of services relevant to B2B e-commerce and

content customized to the manufacturer's needs, including daily business news,

coverage on product launches, industrial policies of various states, etc. We

will be a comprehensive one-stop shop for transaction enabling content,

addressing the information needs of specific vertical communities." Without

giving the investment figures, he said E.M Warburg, Pincus & Co. LLC

(Warburg) has invested in the company.

The company plans to augment its services and content through tie-ups with

leading service providers. Currently it has tied up with bplnet.com and Feedback

Marketing services to develop industry specific content hosted on the Web site.

Ajila claims that the site has been enjoying an average of 40,000 hits daily

since its launch in December 1999. "Over 1,000 companies visit each day,

generating over 100 purchase inquiries. The site's user community has reached

4,000 companies since its launch and we want to grow at 60 per cent every month,

with a significant proportion comprising small and medium scale

enterprises," he says.

The company proposes to invest $10 million in setting up of a nationwide

sales and customer service network, brand building and business development in

the short term. Currently around 45 employees are working in the company and

offices are located in Bangalore, New Delhi, Goa, Mumbai, and Gujarat. By the

end of this year, indiamarkets.com aims to have a strong presence in all

industrial segments in the country.