Infibeam is soon going to foray in the international market through its platform Buildabazaar. According to the Indian business publication, Business Standard, Infibeam is going to launch Buildabazaar platform in UAE and has already lined up 3 large and 5-6 other clients in the country.
Infibeam’s Buildabazaar platform which was launched in 2011, has implemented about 18,000 ecommerce stores in India. It provides retailers with a platform to set up their online stores with offering features including product upload, promotions, accounting, analytics, payment gateway, logistics and reporting.
As per reports, out of the three clients, one of the client who owns about 300 stores in the country, and another which is a private mobile virtual network operator will go live by end of this year. Whereas the third client which owns an electronics chain will go live in January 2014.
Manu Midha, VP strategy and planning, Infibeam.com also said that, Infibeam has also entered into a large partnership in UAE with a government telecom company.
The company has even ported out into 20 languages including Arabic, apart from supporting all currencies. “UAE merchants can also ship to Oman, Qatar and Egypt using our platform, says Manu.
In India, a few of the eCommerce platforms implemented by Buildabazaar includes TheMobileStore, Bookmywish, Mumbaibookstore, Netbhet, TheElementFactory etc.
For future, Buildabazaar plans expansion in few more international markets. In the coming one year, it plans to launch in countries in the Middle East and North Africa (MENA) region, Africa, Europe and South East Asia.
As per the company total transactions on Buildabazaar are valued at USD 62 Mn. Infibeam and Buildabazaar together have a turnover of INR 1000 crore.
Infibeam, the parent company for BuildaBazaar, was launched in 2007 by CEO, Vishal Mehta, who has previously worked at Amazon and was an alumni of MIT. The company is based-out of Ahmedabad and total investment in both the companies has been around INR 100 crore, previously a private equity (PE) firm invested around INR 40 crore in it.
Further, UAE markets looks to be a latest trends in Indian tech town, it is not only Infibeam, but many of the SaaS players including a few competition to Infibeam have indicated a serious strategy towards UAE market. Hence with the SaaS competition growing in India, Iamwire believe soon the same battle of retailer enablement shall shift to UAE, with players being same.
In India, Buildabazaar competes with companies including Martjack, Zepo, Powerstores, Shopify etc.
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