Infibeam– Company Profile

Infibeam was launched in 2007 by Vishal Mehta. The company started operations primarily as an automobile portal, but later transformed into a full-fledged e-commerce platform catering to both B2C and B2B verticals. Though its primary e-commerce platform infibeam.com, the company currently sells a wide range of products across various categories such as mobiles & tablets, computers & accessories, cameras, audio & video, home & kitchen, books, apparels & accessories, fashion, fitness, beauty, baby care, gifts & grocery, home furnishings & decor, magazines, movies &music, and auto accessories. Infibeam is a leading e-retailer in India and is counted amongst the fastest growing e-commerce technology companies in the world. One of the differentiating factors for the company is that it utilizes advanced technology to benefit all stakeholders in the retail chain.

Infibeam is headquartered in Ahmedabad and currently has an employee strength of 1300 employees. It had launched its IPO (Initial Public Offering) in 2016, which made it the first e-commerce company to do so in India.The company’s total revenue for the financial year ending March 31, 2017 was Rs 89.26 crore.

History:

Infibeam Corporation Ltd was registered as a public limited company in June 2010. The company came into prominence as an e-commerce platform after it launched its branded ebook-reader Pi, which also happened to be the first ebook-reader to be made available in the country. Pi was launched in 2010 and it was followed by the launch of Pi2 in 2011. Later, the company launched its Android-based tablet named as Phi. In 2012, the company launched its enterprise platform called BuildaBazaar, which has been another successful venture by Infibeam. BuildaBazaar is a platform that allows SMEs and large businesses to launch their business online. It comes with a host of features such as payment gateways, marketing and SEO tools, logistics, order management, etc. Infibeam launched its IPO in 2016, which had on offer 10,416,666 equity shares of Rs 10 each, aggregating up to Rs 450 crore.

Funding:

Prior to its IPO, Infibeam was self-funded. This strategy has worked out well for the company, as it has become profitable since 2016. In comparison, most other e-commerce companies are heavily funded and have yet to register profits. The company’s IPO was launched in 2016 to gather funds of around 450 crore.

Acquisitions:

Till now, Infibeam has acquired three companies. In 2017, it acquired DRC Systems, which was a provider of enterprise ERP solutions and customized software for e-commerce applications. In 2014, it had acquired ODigMa, which was a provider of digital marketing services. In 2008, Infibeam had acquired Picsquare, which was an online photo printing service provider.

Competition:

Infibeam competes with other leading ecommerce companies such as Amazon India, Flipkart, Snapdeal, ShopClues, Jabong, HomeShop 18, etc.

About the Founder:

Infibeam was founded by Vishal Mehta in 2007. Vishal Mehta is an alumnus of Cornell University and Massachusetts Institute of Technology (MIT). He is currently the Chief Executive Officer (CEO) of infibeam.com. Prior to launching Infibeam, Vishal Mehta had worked with Dell and Amazon. To launch Infibeam, he decided to sell his own personal assets instead of choosing external funding.