Welcome Guest

Businessex.Com
Home News IndiaMART to launch online shopping platform Tolexo.com

IndiaMART to launch online shopping platform Tolexo.com

Tags: indiamart, tolexo, online shopping, sme, msme, ecommerce, flipkart, myntra, clsa, brijesh agrawal

May 30, 2014 | COMMENTS ( 0 )

IndiaMART to launch online shopping platform Tolexo.com

Indiamart.com, one of the largest online listing platforms for small and medium businesses, is launching an online retail marketplace, Tolexo.com, for consumers and businesses to shop on the web. Registered as a separate entity, Tolexo Online Pvt. Ltd is expected to go live in the next five weeks, the company said.

 

Founded in 1996, Indiamart.com helps 1.5 million registered sellers to connect with global buyers on its platform although the business takes place offline. Tolexo will help the company open its doors to online transactions, not just for businesses but for consumers too. IndiaMART currently lists sellers for product categories ranging from clothes and cosmetics to industrial machines, from auto parts to chemicals and pharmaceuticals.

 

Initially, Tolexo will not stock all the product categories. “We are not going to compete with the Flipkart and Snapdeal(s) of the world. The categories that we are going to come up with will be extremely different,” said Brijesh Agrawal, Co-Founder and Director, Indiamart.com.

 

Agrawal thinks that the bigger opportunity categories are home and office supplies ranging from lighting and furnishing to hardware.

 

Indiamart already has a significant merchant base and will not have to spend money and energy on attracting sellers, and the online move is timely, said Subho Ray, President, Internet and Mobile Association of India.

 

The e-commerce market is anticipated to be worth $22 billion in the next five years, from $3.1 billion, according to a November 2013 report by CLSA. According to Agrawal, Tolexo would look to raise about $100 million over next two to three years. Indiamart, with revenue of Rs 200 crore in March 2014, has over 2,600 employees in 40 plus offices in the country. The company generates nearly two million leads every month with a conversion rate of 7-8%. 

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....