Dinesh Agarwal
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| Dinesh Agarwal | |
|---|---|
| Born | Dinesh Agarwal 19 February 1969 |
| Residence | Noida |
| Nationality | Indian |
| Alma mater | Harcourt Butler Technological Institute |
| Occupation | Founder and CEO of IndiaMART |
| Spouse(s) | Chetna Agarwal[1] |
Dinesh Agarwal (born 19 February 1969) is an Indian entrepreneur, founder and CEO of IndiaMART,[2] an online B2B marketplace in India.[3]
Early life
Born to a business family in India, Agarwal completed his high school from Maharaja Agrasen Vidyalaya Inter College, Lucknow and spent most of his childhood there. After completing an engineering degree with a specialization in computer science from prestigious Harcourt Butler Technological Institute, Kanpur,[4] he worked with several firms in India for five years[1] including HCL Technologies before moving to the US and joining CDOT.[4] With an eye toward fulfilling his entrepreneurial desires, he quit his job in 1996 and moved to India with an outlook of starting his own startup.[5]
Entrepreneurial activities
In early 1996, Agarwal returned to India and started working on building an online platform for businesses.[5] The objective of the platform was to build focused web pages, where businesses can display their products through it. In the same year, he launched IndiaMart as export-import servicing company[6] which currently serves more than 1.7 million registered sellers.[7] Agarwal believed the company could be "bootstrapped", he put his savings of Rs. 40,000 and faced several challenges, including costly computers, slow Internet speeds and influencing buyers, in the early Indian market.[8]
The company's first client was Nirulas, a fast-food chain.[5] In 1999, Agarwal launched a new platform (auto.indiamart.com) with the objective of providing users with the latest information about the auto sector.[9] The platform did not receive enough traction, as a result of which, the venture was shut down.
With the development of the Internet and mobile telephone connectivity, Agarwal changed the focus of IndiaMart from that of a total export-import servicing company to 100 per cent B2B model.[10] The company grew substantially and by 2012 became the second-largest B2B marketplace after Alibaba.[11] In September 2015, during an interview with Hindu, Agarwal stated the projection of the company to expand its Gross Merchandise Value to Rs. 1 lakh crore in the next 3–5 years, strengthening on the expected growth in industrial segments and also to enter into the non-English speaking countries.[12]
Other domain ventures by Dinesh Agarwal include www.indiangiftsportal.com and www.abcpayments.com.[13] He later became an investor, providing the first major funding for Tolexo and Innerchef, a Gurgaon-based ready-to-eat and ready-to-cook meals delivery startup.[14][15] He further went on to invest in Wishberry, a Mumbai based crowdfunding platform.[16]
Recognition
- Member of the Governing Council of Internet and Mobile Association of India (IAMAI).[17]
- Recognized by CNBC as a Young Turk.[18]
- ‘The Best Corporate Executive’ by the NCR Chamber of Commerce & Industry (NCCI).[19]
- SME platforms, Emerging Business Forum (in association with Zee Business)[20]
- Associated with The Indus Entrepreneurs #TiE)[21] and Global Super Angels Forum.[22]
References
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