Infibeam is an Indian internet and e-commerce conglomerate involved in online retailing, e-commerce software and internet services. The company is headquartered in Ahmedabad, India. It is an online retailer for books, electronics, and automobiles in India. Infibeam is listed on the National Stock Exchange of India. Started in 2007, the company has offices in Ahmedabad, Delhi, Mumbai and Bangalore, and has a total of 1300 employees. Infibeam launched an e-book reader, Infibeam Pi, its successor Pi2, and a media device, Infibeam Phi. Infibeam became India's first E-commerce company to file an IPO, in July 2015.
Infibeam was founded in 2007 by Vishal Mehta, a Cornell and MIT Sloan alumnus. After working for Dell and Amazon.com in the US for five years, Mehta returned to India in 2007 and started Infibeam along with a group of Amazon employees. He funded the company by selling his personal assets rather than opting for external equity funding. The company was started with an initial capital of ₹100-150 million. Infibeam.com started as an automobile portal in 2007, but later turned into an online retailer. In 2010, Infibeam launched 'Pi', India's first e-book reader.
In 2008, Infibeam acquired Picsquare.com, a personalised photo printing website. In 2014, it acquired Odigma, a digital marketing company, for US$5 million.
In 2017, Infibeam has merged with CCAVenue, in a deal that valued the payment gateway at $289 million.
Infibeam's businesses include online retailing through its flagship website 'infibeam.com', e-commerce platform software service through 'buildabazaar.com', e-commerce marketplace 'dhamaal.com' and its own branded e-book reader. The strategy of Infibeam was described by Forbes as "that seems to defy most standard models". The turnover of the company was reported to be ₹10 billion as of November 2013.
Infibeam.com, the online retail website of the company, sells books, electronics and lifestyle products. The website has a selection of 12 million products across books, electronics, lifestyle, gifts and media. In 2011, the company established Infibeam Logistics, its own logistics arm in major Indian cities. In September 2010, infibeam was among Economic Times's Top 5 Digital Brands in the e-commerce category. Infibeam's acquisition of customer base at very low cost has been recorded as a B-school case study by Ivey Publishing. Infibeam is the only authorised online seller of iPhones in India. Infibeam maintains its bestsellers list for books sold on the site. Picsquare.com, owned by Infibeam, is a digital photo printing and personalised gifts website.
Buildabazaar is a Saas platform built by Infibeam with operations in India and MiddleEast. The company initially extended its e-commerce platform to build online stores for HiDesign, TTK Prestige and Crossword Bookstores and NDTV Shopping In 2011, the e-commerce platform was opened to everyone through Buildabazaar, which allows users to create their own web store. Buildabazaar was awarded ‘The Game Changing Idea of The Year’ Award by The Economic Times at ET RETAIL AWARD 2014. The platform was launched in the Middle East region in 2014. It has 30,000 stores as of March 2015.
Music streaming platform
Infibeam Digital Entertainment (INDENT), a subsidiary of Infibeam established in 2012, builds Music Streaming and Download Platform solutions for Music Labels, Brands and OEMs. In 2013, the company built Sony Music's Jive HD streaming and downloading app embedded in Sony's Xperia smartphones.
Digital marketing services
The company offers Digital Marketing Services through its subsidiary ODIGMA, which it acquired in 2014. ODIGMA employs 70 people and serves digital marketing campaigns for around 400 brands.
Generic top level domain name registry
Infibeam owns the license of the generic top level domain (GTLD) '.ooo' granted by Internet Corporation for Assigned Names and Numbers (ICANN). It launched the '.ooo' domain for trademark holders on 22 September 2014.
Logistics aggregation platform
ShipDroid, a logistics aggregation platform was launched in January 2015, to provide uniformity of logistics services to small merchants across all courier partners. The platform covers 20,000 pincodes across 600 cities. The platform allows merchants to choose mode of delivery such as surface, rail or air mode and also can opt for delivery commitment SLAs such as express delivery or regular delivery.
Infibeam invested $8.9 million in payment gateway CCAvenue in 2016. Recently, in Feb 2017, it announced further investment and likely merger with CCAvenue.
In August 2013, Infibeam launched the e-commerce marketplace Dhamaal.com in association with CCAvenue. Dhamaal has a selection of 15 million products. The website is built on Buildabazaar platform, and is also extended as a co-branded marketplace with 50 Indian banks.
In February 2010, Infibeam launched Pi, an e-book reader that uses E-Ink electronic paper technology. Pi has a six-inch screen with eight level grayscale non-backlit display. The device has the capability to play music files, read Word documents and also supports 13 Indian languages. It has an internal memory of 512 MB, that can store 300 books and supports external memory up to 4 GB. The device, which is less than 10 millimetres (0.39 inches), weighs 180 grams (6.3 ounces).
In 2011, Infibeam launched the second version of its e-book reader and named it Pi2. Pi2 is a touchscreen device and has wireless connectivity. It has 2 GB of internal memory and expandable up to 32 GB through external SD card slot. The battery power is claimed to last up to 8,000 page reads. The company has over 500 thousand e-books on its web store which can be directly accessed from the ebook reader through Wi-Fi to purchase e-books. Infibeam followed up the Pi2 with an Android tablet called Phi.
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