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{{short description|Indian e-commerce website}} {{short description|Indian e-commerce website}}
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| revenue = {{INR}}300 crores/{{INR}}3 billion<ref name="Umarji">{{cite news|last=Umarji|first=Vinay|title=Infibeam to foray into UAE market|url=http://www.business-standard.com/article/companies/infibeam-to-foray-into-uae-market-113110101033_1.html|access-date=6 November 2013|newspaper=Business Standard|date=1 November 2013}}</ref> | revenue = {{INR}}300 crores/{{INR}}3 billion<ref name="Umarji">{{cite news|last=Umarji|first=Vinay|title=Infibeam to foray into UAE market|url=http://www.business-standard.com/article/companies/infibeam-to-foray-into-uae-market-113110101033_1.html|access-date=6 November 2013|newspaper=Business Standard|date=1 November 2013}}</ref>
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| founded = {{Start date|2007}} <!-- if known: {{start date|df=yes|YYYY|MM|DD}} in ], ] --> | founded = {{Start date|2007}} <!-- if known: {{start date|df=yes|YYYY|MM|DD}} in ], ] -->
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'''Infibeam Avenues Limited''' is an ]n multinational financial technology company which offers enterprise digital payment solution globally under the brand name CCAvenue and enterprise e-commerce software platform ('marketplace') services to businesses across various industry verticals and government.<ref>{{cite web |last1=Dutta |first1=Vishal |title=Fintech firm Suvidhaa plans e-commerce foray |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/fintech-firm-suvidhaa-plans-e-commerce-foray/articleshow/70732595.cms |website=] |date=19 August 2019}}</ref><ref>{{cite web |title=Migration Message |url=https://www.suvideals.ooo/static/help/migration_message.pdf |website=Suvideals.ooo }}</ref> '''Infibeam Avenues Limited''' is an ]n company that offers digital payments, ] and internet services. The company was founded in 2007 and is headquartered in ], India. In 2019, its consumer ecommerce website Infibeam.com was acquired by Suvidhaa Infoserve and now operates as Suvideals].<ref>{{cite web |last1=Dutta |first1=Vishal |title=Fintech firm Suvidhaa plans e-commerce foray |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/fintech-firm-suvidhaa-plans-e-commerce-foray/articleshow/70732595.cms |website=] |date=19 August 2019}}</ref><ref>{{cite web |title=Migration Message |url=https://www.suvideals.ooo/static/help/migration_message.pdf |website=Suvideals.ooo }}</ref>

Infibeam has offices in ], ], ] and ].<ref>{{cite news| url=http://articles.economictimes.indiatimes.com/2013-05-09/news/39144066_1_e-tailer-industry-myntra-com | work=The Times Of India | title=Ahmedabad-based e-tailer Infibeam to increase headcount by 2015 | date=9 May 2013}}</ref><ref>{{cite web|last=Rai|first=Anand|title=How E-com Firm Infibeam Is Managing Without External Funding|url=http://techcircle.vccircle.com/500/how-e-com-firm-infibeam-is-managing-without-external-funding/|work=techcircle.in|access-date=25 April 2012}}</ref> The company became India's first ] company to file an ], in July 2015.<ref>{{cite news|last1=REUTERS|title=Infibeam files for IPO in first ecommerce listing |url=http://in.reuters.com/article/2015/07/01/infibeam-ipo-idINKCN0PB3R420150701|newspaper=Reuters|date=July 2015 }}</ref><ref>{{cite web|url=http://profit.ndtv.com/news/corporates/article-infibeam-files-for-ipo-in-first-e-commerce-listing-777076 |title=Infibeam Files for IPO in Indias First E-Commerce Listing – NDTVProfit.com |publisher=Profit.ndtv.com |date=1 July 2015 |access-date=31 January 2016}}</ref><ref>{{cite web|url=http://timesofindia.indiatimes.com/business/india-business/IndiGo-and-Infibeam-file-for-Rs-3000-crore-IPOs/articleshow/47888578.cms |title=IndiGo and Infibeam file for Rs 3,000 crore IPOs – Times of India |publisher=Timesofindia.indiatimes.com |date=1 July 2015 |access-date=31 January 2016}}</ref>
{{TOC limit|3}}


== History == == History ==

===Background===
Infibeam Avenues Limited, formerly known as Infibeam Incorporation Limited was founded in 2007 by Vishal Mehta and is headquartered in Gift City Gandhinagar, India with offices in Delhi, Mumbai and Bengaluru.<ref>{{cite web|last=S. Prem Kumar|title=Infibeam's double-edged strategy|url=http://www.thesmartceo.in/magazine/growth-enterprise/infibeams-double-edged-strategy.html|publisher=The Smart CEO|access-date=29 April 2013}}</ref> The company was started with an initial capital of {{INR}}100-150 million.<ref>{{cite news|last1=Suresh P. Iyengar|title=No competitors here, all are partners|url=http://www.thehindubusinessline.com/industry-and-economy/no-competitors-here-all-are-partners/article5207103.ece|access-date=8 December 2014|publisher=The Hindu Business Line|date=6 October 2013}}</ref> The Company started with online marketplace and expanded into software enabling services in 2011. Infibeam Avenues limited became India’s first listed E-commerce Company on Indian Stock Exchange in 2016. In 2014, Infibeam Avenues launched new generic top level domain (]). The Company become first internet registry in India to launch a generic, top-level domain ‘dot triple O’.<ref name='toi'>{{cite news |title=Ahmedabad firm introduces DOT TRIPPLE O power domain for internet - Times of India |url=https://timesofindia.indiatimes.com/business/india-business/Ahmedabad-firm-introduces-DOT-TRIPPLE-O-power-domain-for-internet/articleshow/43535537.cms |work=The Times of India |language=en}}</ref> In 2017, post Avenues India Pvt limited merger, Infibeam Avenues Limited to enter into Fintech space and today Infibeam Avenues is one of the leading Enterprise Digital Payment Solution provider companies in India and Middle East under the brand name CCAvenue. Infibeam Avenues limited partnered and contracted with JPL and its affiliates to license its Enterprise Ecommerce Software Platform and Enterprise Digital Payment Platform, for their internal businesses. .<ref>{{cite web|last=Pahwa|first=Nikhil|title=Confirmed: Infibeam Acquires Picsquare.com|url=http://www.medianama.com/2008/11/223-confirmed-infibeam-acquires-picsquarecom/|work=MediaNama|access-date=29 April 2013}}</ref><ref>{{cite news|title=India gets 2nd e-book reader Wink XTS|url=http://timesofindia.indiatimes.com/business/india-business/India-gets-2nd-e-book-reader-Wink-XTS/articleshow/6358386.cms|access-date=18 January 2017|newspaper=The Times of India|date=20 August 2010}}</ref> Infibeam was founded in 2007 by Vishal Mehta, a ] and ] alumnus.<ref>{{Cite web|url=https://www.bloomberg.com/profile/person/18938097|title=Vishal Mehta, Infibeam Avenues Ltd: Profile and Biography|website=Bloomberg.com|language=en|access-date=2019-07-16}}</ref> After working for ] and ] in the United States for five years, Mehta returned to India in 2007 and started Infibeam along with a group of Amazon employees.<ref name=ET2010>{{cite news|last=Sruthijith KK|title=Indian innovation to give Amazon's Kindle run for its money|url=http://articles.economictimes.indiatimes.com/2010-01-28/news/27605669_1_ebooks-e-book-reader-physical-books|access-date=29 April 2013|newspaper=The Economic Times|date=28 January 2010}}</ref><ref name="silicon" /> He funded the company by selling his personal assets rather than opting for external ].<ref>{{cite web|last=S. Prem Kumar|title=Infibeam's double-edged strategy|url=http://www.thesmartceo.in/magazine/growth-enterprise/infibeams-double-edged-strategy.html|publisher=The Smart CEO|access-date=29 April 2013}}</ref> The company was started with an initial capital of {{INR}}100-150 million.<ref>{{cite news|last1=Suresh P. Iyengar|title=No competitors here, all are partners|url=http://www.thehindubusinessline.com/industry-and-economy/no-competitors-here-all-are-partners/article5207103.ece|access-date=8 December 2014|publisher=The Hindu Business Line|date=6 October 2013}}</ref> Infibeam.com started as an automobile portal in 2007, but later turned into an online retailer.<ref>{{cite web|last=Pahwa|first=Nikhil|title=Confirmed: Infibeam Acquires Picsquare.com|url=http://www.medianama.com/2008/11/223-confirmed-infibeam-acquires-picsquarecom/|work=MediaNama|access-date=29 April 2013}}</ref> In 2010, Infibeam launched 'Pi', India's first e-book reader<ref>{{cite news|title=India gets 2nd e-book reader Wink XTS|url=http://timesofindia.indiatimes.com/business/india-business/India-gets-2nd-e-book-reader-Wink-XTS/articleshow/6358386.cms|access-date=18 January 2017|newspaper=The Times of India|date=20 August 2010}}</ref><ref>{{cite news|last=Juneja|first=Manjari|title=e-book readers: the Indian angle|url=http://computer.financialexpress.com/20100531/newsanalysis01.shtml|archive-url=https://archive.is/20130629051143/http://computer.financialexpress.com/20100531/newsanalysis01.shtml|url-status=dead|archive-date=29 June 2013|access-date=3 May 2013|newspaper=Express Computer – Financial Express|date=31 May 2010}}</ref> and later launched its successor Pi2, and a media device, Infibeam Phi.

⚫ === Acquisitions ===

In 2008, Infibeam acquired Picsquare.com, a personalised photo printing website. In 2014, it acquired Odigma, a digital marketing company, for {{US$|5{{nbsp}}million|link=yes}}.<ref>{{cite news|last=Pandit|first=Virendra|title=Infibeam acquires digital marketer ODigMa for $5 mn|url=http://www.thehindubusinessline.com/companies/infibeam-acquires-digital-marketer-odigma-for-5-mn/article5722504.ece|access-date=2 March 2014|newspaper=The Hindu Business Line|date=24 February 2014}}</ref> In 2017, it signed a Memorandum of Understanding (MOU) to acquire DRC Systems, a provider of enterprise ERP solutions and customized software for e-commerce applications.

⚫ In 2017, Infibeam merged with CCAVenue, India's largest payment gateway by transactions, in a deal that valued the payment gateway at $289 million.<ref>{{cite news|last=Shruti|first=Jain|title=Infibeam set to merge payment gateway firm CCAvenue with itself|url=http://techcircle.vccircle.com/2017/02/14/infibeam-set-to-merge-payment-gateway-firm-ccavenue-with-itself/|access-date=13 June 2017| date=14 February 2017}}</ref>

In May 2018 Infibeam Inc. acquired 100% shareholding of Vavian International Ltd.<ref name="indiainfoline.com">{{Cite news|url=https://www.indiainfoline.com/article/news-top-story/infibeam-to-acquire-dubai-based-payment-gateway-service-provider-118052100031_1.html|title=Infibeam to acquire Dubai-based payment gateway service provider|last=indiainfoline.com|access-date=2018-06-11|language=en}}</ref> The deal was valued $1.17 million,<ref>{{Cite web|url=https://www.owler.com/reports/infibeam/infibeam--e-tailer-infibeam-buys-uae-based-digital/1526934601579|title=Owler Reports - Infibeam: E-tailer Infibeam buys UAE-based digital payments firm|website=www.owler.com|access-date=2018-06-11}}</ref> this made Vavian International a direct subsidiary of Infibeam Global EMEA FZ-LLC, a subsidiary of Infibeam Incorporation Ltd.<ref>{{Cite news|url=https://www.vccircle.com/e-tailer-infibeam-buys-uae-based-digital-payments-firm/|title=E-tailer Infibeam buys UAE-based digital payments firm|date=2018-05-21|work=VCCircle|access-date=2018-06-11|language=en-US}}</ref> In June 2020, Ravi Omprakash Agrawal became the largest individual shareholder in Infibeam Avenues Limited.<ref>{{Cite news|title=NSE-BSE bulk deals: Ravi Agrawal raises stake in Infibeam Avenues|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/nse-bse-bulk-deals-ravi-agrawal-raises-stake-in-infibeam-avenues/articleshow/77203693.cms|access-date=2020-09-21}}</ref>
=== Partnership ===
⚫ In October 2020, the company signed a deal to license its e-commerce and payment software to ], ]'s digital platform venture.<ref>{{cite news |title=Infibeam Avenues signs deal to license ecommerce and payment software to Jio Platforms |url=https://economictimes.indiatimes.com/markets/stocks/news/infibeam-avenues-signs-deal-to-license-ecommerce-and-payment-software-to-jio-platforms/articleshow/78498722.cms |publisher=] |date=October 5, 2020|access-date=2020-10-11}}</ref> In 2017, Infibeam and its other partners received a contract to manage the Government e-Marketplace (GeM) portal.<ref>{{cite news |last1=Suneja |first1=Kirtika |last2=Agarwal |first2=Surabhi |title=Intellect, Infibeam bag contract for government marketplace |url=https://economictimes.indiatimes.com/tech/ites/intellect-infibeam-bag-contract-for-government-marketplace/articleshow/59745255.cms |publisher=] |date=July 25, 2017|access-date=2020-10-11}}</ref>

===Financials and fall in share price===
Though the company had posted healthy profits after taxes in the previous two financial years, the company posted a net profit after tax of less than 1.2 crores in FS 2016–17.<ref>{{cite book |title=Annual report 2016-17 |date=1 November 2017 |publisher=Infybeam |location=Gandhinagar }}</ref> However this did not prevent its share price from continuing to soar up in 2017 and 2018 as stock analysts continued to forecast high share prices. Finally, on 29 September 2018, the company's share price crashed by 70%, from Rs. 212 in the previous week to Rs. 53.8, after a whatsapp message circulated sparking rumours of the company's poor financial health.<ref>{{cite news |title=Infibeam shares nosedive 70% ahead of AGM |url=https://www.livemint.com/Money/qNAPE6jgc85gfHPtNNFozL/Infibeam-shares-nosedive-over-57-ahead-of-AGM.html |access-date=29 September 2018 |publisher=Live Mint |date=29 September 2018}}</ref>


== Businesses == == Businesses ==

Infibeam's businesses include e-commerce platform software service through 'buildabazaar.com', digital Payments, domain names and other internet services. The turnover of the company was reported to be {{INR}}10 billion as of November 2013.<ref name="Umarji" /><ref>{{cite news|last=Rohin Dharmakumar|title=How the Rise of Third Party Marketplaces can Alter Indian E-Commerce|url=http://forbesindia.com/article/real-issue/how-the-rise-of-third-party-marketplaces-can-alter-indian-ecommerce/35209/4|access-date=10 June 2013|newspaper=Forbes India|date=13 May 2013}}</ref>


=== Digital Payments === === Digital Payments ===
Infibeam invested $8.9 million in payment gateway CCAvenue in 2016. In Feb 2017, it announced further investment and likely merger with CCAvenue. In May 2018, Infibeam Inc invested $1.17 million acquiring the 100% stake in Vavian International Ltd, a UAE-based payment gateway. Vivian claims to process of about 2,500 transactions with a transaction value of AED 2 million.<ref name="indiainfoline.com" />
In 2016, Avenues India Pvt Ltd merged with Infibeam to enter into fintech segment. Infibeam Avenues limited offer Enterprise Digital Payment Solution under the brand name CCAvenue to banks and enterprise clients in India and the United Arab Emirates, Kingdom of Saudi Arabia, The United States of America, internationally. CCAvenue is a PCI DSS 3.2.1 compliant payment gateway platform offering merchants with over 240 payment options including net-banking.<ref name='TC'/> CCAvenue was founded in 2001 by Vishwas Patel who has been appointed as Executive Director of Infibeam Avenues.<ref>{{Cite web|title=Over 50% Of Indians Opted For Online Mobile Recharges In 2020 Due To Covid-19 Pandemic|url=https://www.moneycontrol.com/news/trends/over-50-of-indians-opted-for-online-mobile-recharges-in-2020-due-to-covid-19-pandemic-6294821.html|access-date=2021-01-21|website=Moneycontrol}}</ref>


=== Online retailing ===
=== Enterprise Ecommerce Software Platform ===
Infibeam Avenues' Enterprise Ecommerce Software Platform BuildaBazaar hosts India's largest online marketplace for government procurement.<ref name="Umarji" /><ref>{{cite news|last=Rohin Dharmakumar|title=How the Rise of Third Party Marketplaces can Alter Indian E-Commerce|url=http://forbesindia.com/article/real-issue/how-the-rise-of-third-party-marketplaces-can-alter-indian-ecommerce/35209/4|access-date=10 June 2013|newspaper=Forbes India|date=13 May 2013}}</ref> The Company also entered into definitive agreement with Jio Platform Limited to offer its Enterprise Software licence and Enterprise Digital Payments Platform to Jio Platforms and its associates for their internal businesses.<ref>{{cite news|title=TTK Prestige Announces e-Commerce Alliance with Infibeam.com|url=http://economictimes.indiatimes.com/cmpnewsdisp.cms?companyid=8711&newsid=334825|access-date=5 May 2013|newspaper=The Economic Times|date=21 January 2010}}</ref><ref>{{cite web|last=S. Prem Kumar|title=Infibeam's double-edged strategy|url=http://www.thesmartceo.in/magazine/growth-enterprise/infibeams-double-edged-strategy.html|work=The Smart CEO|access-date=4 May 2013}}</ref><ref>{{cite web|url=http://ecommwire.com/?id=42197 | title=Infibeam.com & NDTV Enter Into eCommerce Alliance |access-date=15 June 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110929032040/http://ecommwire.com/?id=42197 |archive-date=29 September 2011 }}</ref><ref>{{cite web|url=http://www.efytimes.com/e1/45601/fullnews.htm |title=Hidesign Website Uses Infibeam.com's Technology Platform |website=Efytimes.com |date=19 May 2010 |access-date=31 January 2016 |url-status=dead |archive-url=https://web.archive.org/web/20141006153736/http://www.efytimes.com/e1/45601/fullnews.htm |archive-date=6 October 2014 }}</ref>


Infibeam.com, the online retail website of the company, sells books, electronics and lifestyle products.<ref>{{cite news|title=Inside Indian e-commerce Bazaar|url=http://articles.timesofindia.indiatimes.com/2010-10-22/strategy/28266116_1_e-commerce-e-book-reader-firm|access-date=29 April 2013|newspaper=The Times of India|date=22 October 2010}}</ref> The website has a selection of 12 million products across books, electronics, lifestyle, gifts and media.<ref name="silicon">{{cite web|title=Infibeam Expands Logistics To Mumbai And Bangalore|url=http://www.siliconindia.com/shownews/Infibeam_Expands_Logistics_To_Mumbai_And_Bangalore-nid-101554-cid-100.html|work=SiliconIndia|access-date=10 August 2013}}</ref> In 2011, the company established Infibeam Logistics, its own logistics arm in major Indian cities.<ref>{{cite web|last=Nandana Das|title=Infibeam Logistics Expands Operations To Mumbai & Bangalore|url=http://techcircle.vccircle.com/2011/12/26/infibeam-logistics-forays-in-mumbai-and-bangalore/|work=techcircle.in|access-date=4 May 2013|date=26 December 2011}}</ref> In September 2010, infibeam was among ]'s ''Top 5 Digital Brands'' in the e-commerce category.<ref>{{cite web|url=http://articles.economictimes.indiatimes.com/2010-09-01/news/27615919_1_yahoo-indiatimes-linkedin |title=Top Digital Brands – category-wise – timesofindia-economictimes |website=Articles.economictimes.indiatimes.com |access-date=31 January 2016}}</ref> Infibeam's acquisition of customer base at very low cost has been recorded as a B-school case study by ].<ref>{{cite news|last=Shramana Ganguly|title=B-schools to teach Infibeam.com case study|url=http://articles.economictimes.indiatimes.com/2013-03-21/news/37903280_1_case-study-b-schools-b-schools|access-date=18 August 2013|newspaper=The Economic Times|date=21 March 2013}}</ref> Infibeam is the only authorised online seller of ]s in India.<ref>{{cite news|last1=Aulakh|first1=Gulveen|title=Offline retailers may boycott iPhone 6 as iPhone 5S being offered at discounted prices on e-commerce sites |url=http://economictimes.indiatimes.com/tech/hardware/offline-retailers-may-boycott-iphone-6-as-iphone-5s-being-offered-at-discounted-prices-on-e-commerce-sites/articleshow/43755847.cms|access-date=29 September 2014|publisher=The Economic Times|date=29 September 2014}}</ref><ref>{{cite web|title=Apple Catalogue & Internet Resellers|url=https://www.apple.com/in/buy/catalogresellers/|website=Apple.com|access-date=7 October 2014}}</ref> It also owns Picsquare.com, a digital photo printing and personalised gifts website.<ref>{{cite web|title=Meet the man who launched Picsquare|url=http://www.rediff.com/money/report/iit-mlook-meet-the-man-who-launched-picsquare/20090319.htm|website=Reddiff|access-date=21 March 2015}}</ref>
On November 20, 2017, Infibeam Avenues launched BillAvenue; an inter-operable digital bill payments platform built over the Bharat Bill Payment System (BBPS) infrastructure to enables service providers to accept bill payments from customers nation-wide, both through online and offline channel.<ref>{{cite news |title=Infibeam subsidiary Avenues India launches BillAvenue - ET Retail |url=https://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/infibeam-subsidiary-avenues-india-launches-billavenue/61724316 |work=ETRetail.com |language=en}}</ref>


=== E-commerce platform ===
===Data Centre Infrastructure Services===
The Company forayed into the segment of infrastructure or data centre-as-a-service and have built a state-of-the-art Tier – III data centre in Gift City, Gandhinagar. It has received Tier-III design certification from Uptime Institute as it is equipped with fully redundant and dual-powered servers, storage, network links and other IT components.<ref>{{cite web |last1=George |first1=Aaron St |title=Infibeam Avenues receives Tier III Design Certification from Uptime Institute for its Data Center - equitybulls.com |url=https://uptimeinstitute.com/tier-certification/overview/26-news-external/1351-infibeam-avenues-receives-tier-iii-design-certification-from-uptime-institute-for-its-data-center-equitybulls-com |website=uptimeinstitute.com |language=en-gb}}</ref> Infibeam Avenues has partnered with IBM India to develop implement and promote blockchain capabilities on the LinuxOne platform, the first of its kind in India.<ref>{{cite web |title=Infibeam Avenues Limited |url=https://www.ibm.com/case-studies/infibeam-journey-to-cloud |website=ibm.com |language=en-us}}</ref><ref>{{cite web |title=Infibeam Avenues partners with IBM to deploy blockchain solutions in India |url=https://www.techcircle.in/2018/12/21/infibeam-avenues-partners-with-ibm-to-deploy-blockchain-solutions-in-india/ |website=Techcircle |date=21 December 2018}}</ref>


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 ], TTK Prestige<ref>{{cite news|title=TTK Prestige Announces e-Commerce Alliance with Infibeam.com|url=http://economictimes.indiatimes.com/cmpnewsdisp.cms?companyid=8711&newsid=334825|access-date=5 May 2013|newspaper=The Economic Times|date=21 January 2010}}</ref> and Crossword Bookstores<ref>{{cite web|last=S. Prem Kumar|title=Infibeam's double-edged strategy|url=http://www.thesmartceo.in/magazine/growth-enterprise/infibeams-double-edged-strategy.html|work=The Smart CEO|access-date=4 May 2013}}</ref> and NDTV Shopping<ref>{{cite web|url=http://ecommwire.com/?id=42197 | title=Infibeam.com & NDTV Enter Into eCommerce Alliance |access-date=15 June 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110929032040/http://ecommwire.com/?id=42197 |archive-date=29 September 2011 }}</ref><ref>{{cite web|url=http://www.efytimes.com/e1/45601/fullnews.htm |title=Hidesign Website Uses Infibeam.com's Technology Platform |website=Efytimes.com |date=19 May 2010 |access-date=31 January 2016 |url-status=dead |archive-url=https://web.archive.org/web/20141006153736/http://www.efytimes.com/e1/45601/fullnews.htm |archive-date=6 October 2014 }}</ref> In 2011, the e-commerce platform was opened to everyone through Buildabazaar, which allows users to create their own web store.<ref>{{cite web|title=Infibeam launches 'Build a Bazaar' to help create own online store brand|url=http://www.siliconindia.com/shownews/Infibeam_launches_Build_a_Bazaar_to_help_create_own_online_store_brand-nid-83974-cid-100.html|work=Siliconindia.com|access-date=17 April 2012}}</ref> Buildabazaar was awarded ‘The Game Changing Idea of The Year’ Award by The Economic Times at ET RETAIL AWARD 2014.<ref>{{cite news|last1=Suman Pokhiyal|title=Infibeam is conferred with 'The Game Changing Idea of The Year' Award by The Economic Times at ET RETAIL AWARD -2014|url=http://www.itvoice.in/index.php/it-magazine/infibeam-is-conferred-with-the-game-changing-idea-of-the-year-award-by-the-economic-times-at-et-retail-award-2014|access-date=1 October 2014|date=7 April 2014}}</ref> The platform was launched in the ] region in 2014. It has 30,000 stores as of March 2015.<ref>{{cite news|title=Second Coming|url=http://businesstoday.intoday.in/story/infibeam-vishal-mehta-ecommerce-comeback-with-buildabazaar/1/216634.html|access-date=21 March 2015|publisher=Business Today}}</ref>
=== .OOO Registry Services ===
The company announced in 2018, that its ecommerce business had achieved break even point and its consolidated net profit grew by 53%<ref>{{cite news|title=Will Scale Up e-commerce biz when revenue is assured infibeam ceo visha Coming|url=https://www.techcircle.in/2018/06/18/will-scale-up-e-commerce-biz-when-revenue-is-assured-infibeam-ceo-vishal-mehta|access-date=18 June 2018|publisher=Techcircle}}</ref>
⚫ {{Main|.ooo}}
Infibeam Avenues launched ] ‘dot triple O’ or ‘]’ internet registry in India in 2014. This new GTLD ‘.OOO’ is aimed at providing alternate domain registration solutions to next generation businesses that were unable to locate their brand name or business names on popular domains.<ref>{{cite news|title=Infibeam to offer '.ooo' for '.com-savvy' netizens|url=http://www.thehindubusinessline.com/features/smartbuy/tech-news/infibeam-to-offer-ooo-for-comsavvy-netizens/article6438980.ece|access-date=29 September 2014|publisher=The Hindu Business Line|date=23 September 2014}}</ref><ref name='toi'/>


=== ThemeJungle ===
⚫ == Acquisitions and Partnership ==
The theme store- ThemeJungle<ref>{{Cite web|url=https://www.themejungle.ooo/|title=Ecommerce Website Templates & Themes Online, Premium & Free Themes Store|website=www.themejungle.ooo|language=en|access-date=2018-06-09}}</ref> is subsidiary of BuildaBazaar. The website launched in January 2018 to support BuildaBazaar stores. It is a marketplace of various themes designed by professional designers. Until May 2018, ThemeJungle has uploaded over one hundred free premium themes.
In November, 2020, Infibeam Avenues collaborated with ], a financial services provider in the Sultanate of Oman.<ref>{{cite news |last1=Dave |first1=Sachin |title=Infibeam enters Oman e-commerce market, ties up with Bank Muscat |url=https://economictimes.indiatimes.com/tech/startups/infibeam-enters-oman-e-commerce-market-ties-up-with-bank-muscat/articleshow/79383799.cms |work=The Economic Times}}</ref>


=== Music streaming platform ===
⚫ On October 14, 2020, Infibeam Avenues entered into definitive agreement with ] to use Company’s flagship enterprise payment platform CCAvenue for processing transactions of its enterprise clients.<ref>{{cite news |last1=Market |first1=Capital |title=Infibeam Avenues rises on signing agreement with JP Morgan |url=https://www.business-standard.com/article/news-cm/infibeam-avenues-rises-on-signing-agreement-with-jp-morgan-120101400800_1.html |work=Business Standard India |date=14 October 2020}}</ref> The company also signed a deal to license its e-commerce and payment software with ], ]'s digital platform venture.<ref>{{cite news |title=Infibeam Avenues signs deal to license ecommerce and payment software to Jio Platforms |url=https://economictimes.indiatimes.com/markets/stocks/news/infibeam-avenues-signs-deal-to-license-ecommerce-and-payment-software-to-jio-platforms/articleshow/78498722.cms |publisher=] |date=October 5, 2020|access-date=2020-10-11}}</ref> In 2017, Infibeam and its other partners received a contract to manage the Government e-Marketplace (GeM) portal.<ref>{{cite news |last1=Suneja |first1=Kirtika |last2=Agarwal |first2=Surabhi |title=Intellect, Infibeam bag contract for government marketplace |url=https://economictimes.indiatimes.com/tech/ites/intellect-infibeam-bag-contract-for-government-marketplace/articleshow/59745255.cms |publisher=] |date=July 25, 2017|access-date=2020-10-11}}</ref>


Infibeam Digital Entertainment (INDENT), a subsidiary of Infibeam established in 2012, builds Music Streaming and Download Platform solutions for Music Labels, Brands and OEMs.<ref>{{cite news|last1=Vikas SN|title=Infibeam Launches Indent Platform For Digital Music Services; Partners Sony Music India|url=http://www.medianama.com/2012/11/223-infibeam-launches-indent-platform-for-digital-music-services-partners-sony-music-india/|access-date=30 September 2014|agency=MediaNama}}</ref> In 2013, the company built Sony Music's Jive HD streaming and downloading app embedded in Sony's Xperia smartphones.<ref>{{cite news|last1=Brindaalakshmi K|title=Infibeam's Indent Powers Sony Music Jive Service For Xperia for all Phones|url=http://www.medianama.com/2013/03/223-sony-music-jive-xperia/|access-date=30 September 2014|agency=MediaNama}}</ref>
On October 9, 2020, Infibeam Avenues partnered with Oman’s Bank Dhofar SAOG to offer CCAvenue Payment Gateway Service to process online card transactions of various payment networks for Bank Dhofar SAOG and help the bank to authorise online payment for its customers.<ref>{{cite news |title=Infibeam Avenues inks deal with Oman’s Bank Dhofar for online payments |url=https://www.financialexpress.com/industry/banking-finance/infibeam-avenues-inks-deal-with-omans-bank-dhofar-for-online-payments/2101513/ |work=The Financial Express |date=9 October 2020}}</ref>


=== Digital marketing services ===
In June 2020, Infibeam Avenues acquired Bengaluru-based Cardpay Technologies Ltd.<ref>{{cite news |title=Infibeam Avenues acquires Cardpay Technologies |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/infibeam-avenues-acquires-cardpay-technologies/articleshow/76257531.cms |work=The Economic Times}}</ref>


The company offers ] Services through its subsidiary ODIGMA, which it acquired in 2014.<ref>{{cite news|last1=Priyanka Sahay|title=Infibeam.com now enables link-offs to third party merchant sites for completing sales|url=http://techcircle.vccircle.com/2014/08/07/infibeam-com-now-enables-link-offs-to-third-party-merchant-sites-for-completing-sales/|access-date=6 February 2015|publisher=Tech Circle|date=7 August 2014}}</ref> ODIGMA employs serves digital marketing campaigns for brands.<ref>{{cite news|last1=Amit Shanbaug|title=Advit Sahdev's ODigMa: A Rs 6 crore online marketing company built from Rs 2 lakh|url=http://articles.economictimes.indiatimes.com/2013-11-11/news/43930047_1_2-lakh-rs-35-lakh-rs-15-crore|access-date=6 February 2015|publisher=The Economic Times|date=11 November 2013}}</ref>
In August 2019, Infibeam Avenues partnered with ] for digital payments solution and with this the company has made inroads into Saudi Arabia’s digital payment space.<ref>{{cite news |last1=Dutta |first1=Vishal |title=Riyad Bank: CCAvenue collaborates with Riyad Bank to make inroads into Saudi Arabia's digital payment space |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/ccavenue-collaborates-with-riyad-bank-to-make-inroads-into-saudi-arabias-digital-payment-space/articleshow/71213181.cms |work=The Economic Times}}</ref>


=== Generic top level domain name registry ===
In December 2018, Infibeam Avenues invested to take 48% stake in Mumbai-based digital payments tech firm Instant Global Paytech Pvt. Ltd (IGPL), which operates Go Payments.<ref>{{cite news |title=Infibeam Avenues invests in Instant Global Paytech |url=https://www.businesstoday.in/pti-feed/infibeam-avenues-invests-in-instant-global-paytech/story/296938.html |work=www.businesstoday.in}}</ref>
⚫ {{Main|.ooo}}


Infibeam owns the license of the ] ']' granted by ] (ICANN). It launched the '.ooo' domain for trademark holders on 22 September 2014.<ref>{{cite news|title=Infibeam to offer '.ooo' for '.com-savvy' netizens|url=http://www.thehindubusinessline.com/features/smartbuy/tech-news/infibeam-to-offer-ooo-for-comsavvy-netizens/article6438980.ece|access-date=29 September 2014|publisher=The Hindu Business Line|date=23 September 2014}}</ref><ref>{{cite news|last1=Mishra|first1=Piyush|title=Ahmedabad firm introduces DOT TRIPPLE O power domain for internet|url=http://timesofindia.indiatimes.com/business/india-business/Ahmedabad-firm-introduces-DOT-TRIPPLE-O-power-domain-for-internet/articleshow/43535537.cms|access-date=29 September 2014|work=The Times of India|date=26 September 2014}}</ref>
In March 2017, Infibeam Avenues acquired DRC Systems India Pvt Ltd, a company engaged in the business of providing software solutions for enterprise E-commerce, ERP and related solutions.<ref>{{cite news |last1=Dutta |first1=Vishal |title=Infibeam acquires cloud ERP solutions provider DRC Systems |url=https://economictimes.indiatimes.com/small-biz/startups/infibeam-acquires-cloud-erp-solutions-provider-drc-systems/articleshow/57447323.cms |work=The Economic Times}}</ref>


=== Logistics aggregation platform ===
⚫ In March 2017, Infibeam Avenues and Avenues (India) Private Limited entered into binding agreement to merge and take control of CCAvenue through Equity Stake.<ref name='TC'>{{cite web |title=Infibeam set to merge payment gateway firm CCAvenue with itself |url=https://www.techcircle.in/2017/02/14/infibeam-set-to-merge-payment-gateway-firm-ccavenue-with-itself/ |website=Techcircle |date=14 February 2017}}</ref>


ShipDroid, a logistics aggregation platform 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 lets merchants choose modes of delivery such as surface, rail, or air mode, and can opt for delivery commitment SLAs such as express or regular.<ref>{{cite news|title=Infibeam introduces logistics platform for online merchants|url=http://www.thehindubusinessline.com/features/smartbuy/tech-news/infibeam-introduces-logistics-platform-for-online-merchants/article6838879.ece|access-date=3 February 2015|publisher=Business Line|date=30 January 2015}}</ref><ref>{{cite news|last1=Chitra Unnithan|title=Infibeam introduces logistic platform for merchants|url=http://timesofindia.indiatimes.com/tech/tech-news/Infibeam-introduces-logistic-platform-for-merchants/articleshow/46078197.cms|access-date=3 February 2015|work=The Times of India|date=31 January 2015}}</ref><ref>{{cite web|last1=Vivek Pai|title=Infibeam launches logistics services marketplace ShipDroid|url=http://www.medianama.com/2015/02/223-infibeam-shipdroid/|website=Medianama.com|publisher=MediaNama|access-date=3 February 2015|date=3 February 2015}}</ref>
In October 2017, Infibeam Avenues has entered into MoU with IL&FS Townships & Urban Assets Limited ("ITUAL") for undertaking and implementing projects in digital space and e-commerce for Central Government, various State Governments and Private Partners.<ref>{{cite web |title=Infibeam Incorporation shines 7% after signing MoU with IL&FS |url=https://www.indiainfoline.com/article/news-top-story/infibeam-incorporation-shines-7-after-signing-mou-with-il-fs-116102700813_1.html |website=www.indiainfoline.com |language=en}}</ref>


=== Marketplace ===
In July 2017, Infibeam Avenues along with consortium partners were rewarded contract for Managed Service Provider from Government of India to design, develop, implement, operate and maintain Government e-Marketplace portal “GeM”.<ref>{{cite news |last1=Suneja |first1=Kirtika |last2=Agarwal |first2=Surabhi |title=Intellect, Infibeam bag contract for government marketplace |url=https://economictimes.indiatimes.com/tech/ites/intellect-infibeam-bag-contract-for-government-marketplace/articleshow/59745255.cms |work=The Economic Times}}</ref>


In August 2013, Infibeam launched the e-commerce marketplace Dhamaal.com in association with CCAvenue. Dhamaal has a selection of 1fifteen million products. The website is built on Buildabazaar platform, and is extended as a co-branded marketplace with fifty Indian banks.<ref>{{cite news|title=Indian platform www.dhamaal.com launched for traders|url=http://articles.economictimes.indiatimes.com/2013-08-01/news/40962922_1_merchants-marketplace-products|access-date=2 September 2013|newspaper=The Economic Times|date=1 August 2013}}</ref>
⚫ == Awards and Recognition ==

*Best Digital Payment Processor India Digital Summit 2020, by IAMAI<ref>{{cite web |title=CCAvenue: CCAvenue awarded the 'Best Digital Payment Processor' at IAMAI's India Digital Summit 2020 |url=https://www.ccavenue.com/pr/CCAvenue-awarded-the-Best-Digital-Payment-Processor-at-IAMAIs-India-Digital-Summit-2020.jsp#:~:text=In%20recognition%20of%20its%20outstanding,Summit%202020%20presented%20by%20IAMAI. |website=www.ccavenue.com}}</ref>
=== E-book reader ===
⚫ *In February 2018, Infibeam was ranked 418th in ] and Statista's FT1000 High Growth Companies Asia - Pacific 2018.<ref>{{Cite web|url=https://ig.ft.com/special-reports/ft-1000/asia-pacific/2018/|title=FT 1000: High-Growth Companies Asia-Pacific|website=ig.ft.com|language=en-GB|access-date=2018-06-14}}</ref>
In February 2010, Infibeam launched Pi, an ] that uses ] ] technology.<ref name=ET2010 /> Pi has a six-inch screen with eight level grayscale non-backlit display.<ref>{{cite news|last=Pooja Chaturvedi|title=E-book reader for Indian languages|url=http://www.livemint.com/Industry/h19P6edTvcFDJN4vZb76rI/Ebook-reader-for-Indian-languages.html|access-date=6 May 2013|newspaper=Live Mint|date=30 May 2010}}</ref><ref>{{cite news|title=Infibeam Pi: Is this India's killer IT product?|url=http://getahead.rediff.com/slide-show/2010/mar/30/slide-show-1-specials-e-book-reader-pi-is-this-Indias-killer-it-product.htm|access-date=27 October 2015|work=rediff.com|date=30 March 2010}}</ref> The device has the capability to play music files, read ] documents and also supports 13{{nbsp}}Indian languages.<ref name=ET2010 /><ref>{{cite web|last=Poonam Singhal|title=Indian ebook reader : Pi – Kindle's rival|url=http://www.moneymint.in/business/indian-ebook-reader-pi-kindles-rival|archive-url=https://web.archive.org/web/20130529135237/http://www.moneymint.in/business/indian-ebook-reader-pi-kindles-rival|url-status=dead|work=Moneymint.in|archive-date=29 May 2013}}</ref><ref>{{cite news|last=Dhamini Ratnam |title=India serves Amazon, Apple some humble Pi |url=http://www.hindustantimes.com/India-news/Mumbai/India-serves-Amazon-Apple-some-humble-Pi/Article1-504695.aspx |access-date=3 May 2013 |newspaper=Hindustan Times |date=3 February 2010 |url-status=dead |archive-url=https://web.archive.org/web/20141010235641/http://www.hindustantimes.com/India-news/Mumbai/India-serves-Amazon-Apple-some-humble-Pi/Article1-504695.aspx |archive-date=10 October 2014 }}</ref><ref>{{cite news|last=Puneet Mehrotra |title=Desi Ebook Readers in India |url=http://www.hindustantimes.com/News-Feed/ColumnsOthers/Desi-Ebook-Readers-in-India/Article1-616927.aspx |access-date=3 May 2013 |newspaper=Hindustan Times |date=23 October 2010 |url-status=dead |archive-url=https://web.archive.org/web/20130201145631/http://www.hindustantimes.com/News-Feed/columnsothers/Desi-Ebook-Readers-in-India/Article1-616927.aspx |archive-date=1 February 2013 }}</ref> In 2011, Infibeam launched the second version of its ], Pi2.<ref name=Businessline>{{cite news|last=Mahananda Bohidar|title=Reason enough to go digital? Infibeam Pi 2|url=http://www.thehindubusinessline.com/todays-paper/tp-smartbuy/reason-enough-to-go-digital-infibeam-pi-2/article1562891.ece?css=print|access-date=4 May 2013|newspaper=The Hindu Business Line|date=23 March 2011}}</ref> Pi2 is a ] device and has wireless connectivity. They claim the battery power lasts up to 8,000 page reads.<ref name=Businessline /> The company has over 500 thousand ]s on its web store which readers can access from the reader to purchase ]s.<ref>{{cite news|title=Infibeam launches Infibeam Pi2 e-reader|url=http://timesofindia.indiatimes.com/gadgets-special/Infibeam-launches-Infibeam-Pi2-e-reader/articleshow/7602300.cms|access-date=18 January 2017|newspaper=Times of India|date=1 March 2011}}</ref> Infibeam followed the Pi2 with an ] tablet called Phi.<ref>{{cite web|title=Infibeam Phi|url=https://www.youtube.com/watch?v=BFfjC4ANk58|publisher=Youtube.com|access-date=31 January 2016}}</ref>
*Most Innovative Payment Service Provider & Fastest Growing Online Payment Service Provider (U.A.E) International Finance Awards 2019.<ref>{{cite web |title=CCAvenue: CCAvenue wins 'Most Innovative Payment Service Provider' and 'Fastest Growing Online Payment Service Provider' accolades at the International Finance Awards |url=http://www.ccavenue.us/pr/CCAvenue-wins-Most-Innovative-Payment-Service-Provider-and-Fastest-Growing-Online-Payment-Service-Provider-accolades-at-the-International-Finance-Awards.jsp |website=www.ccavenue.us}}</ref>

⚫ *Infibeam was conferred with Consumer Durable & E-Retail of the Year Award at E-Retail Award 2018 by Franchise India held on 16–17 April 2018 in JW Marriott Hotel, New Delhi.<ref>{{Cite web|url=https://www.indianretailer.com/congress/awards_winner.php|title=Indian Retail & eRetail Congress 2018|website=www.indianretailer.com|language=en|access-date=2018-06-18}}</ref>
⚫ == Recognition ==
⚫ In February 2018, Infibeam was ranked 418th in ] and Statista's FT1000 High Growth Companies Asia - Pacific 2018.<ref>{{Cite web|url=https://ig.ft.com/special-reports/ft-1000/asia-pacific/2018/|title=FT 1000: High-Growth Companies Asia-Pacific|website=ig.ft.com|language=en-GB|access-date=2018-06-14}}</ref>

⚫ Infibeam was conferred with Consumer Durable & E-Retail of the Year Award at E-Retail Award 2018<ref>{{Cite web|url=https://www.indianretailer.com/congress/|title=Indian Retail & eRetail Congress 2018|website=www.indianretailer.com|language=en|access-date=2018-06-18}}</ref> by Franchise India held on 16–17 April 2018 in JW Marriott Hotel, New Delhi.<ref>{{Cite web|url=https://www.indianretailer.com/congress/awards_winner.php|title=Indian Retail & eRetail Congress 2018|website=www.indianretailer.com|language=en|access-date=2018-06-18}}</ref> At the same award function, Infibeam's subsidiary CC Avenue was conferred with "Best Innovation in E-Commerce Payment".<ref>{{Cite web|url=https://www.indianretailer.com/congress/awards_winner.php|title=Indian Retail & eRetail Congress 2018|website=www.indianretailer.com|language=en|access-date=2018-06-18}}</ref>


== References == == References ==
{{reflist}} {{reflist}}

== External links ==
{{Portal|Books|Business and economics|India|Internet}}
* {{official website}}


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Infibeam Avenues Limited
Infibeam logo
Company typePublic
Traded asNSE: INFIBEAM
BSE: 539807
IndustryInternet
Founded2007 (2007)
FounderVishal Mehta
HeadquartersAhmedabad, India
Area servedIndia, Middle East
ServicesOnline payments, Internet services (data centres, domains), e-commerce software
Revenue₹300 crores/₹3 billion
Number of employees1300 (in 2015)
Websiteia.ooo

Infibeam Avenues Limited is an Indian company that offers digital payments, e-commerce software and internet services. The company was founded in 2007 and is headquartered in Ahmedabad, India. In 2019, its consumer ecommerce website Infibeam.com was acquired by Suvidhaa Infoserve and now operates as Suvideals.ooo.

Infibeam has offices in Ahmedabad, Delhi, Mumbai and Bengaluru. The company became India's first E-commerce company to file an IPO, in July 2015.

History

Infibeam was founded in 2007 by Vishal Mehta, a Cornell and MIT Sloan alumnus. After working for Dell and Amazon.com in the United States 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 and later launched its successor Pi2, and a media device, Infibeam Phi.

Acquisitions

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, it signed a Memorandum of Understanding (MOU) to acquire DRC Systems, a provider of enterprise ERP solutions and customized software for e-commerce applications.

In 2017, Infibeam merged with CCAVenue, India's largest payment gateway by transactions, in a deal that valued the payment gateway at $289 million.

In May 2018 Infibeam Inc. acquired 100% shareholding of Vavian International Ltd. The deal was valued $1.17 million, this made Vavian International a direct subsidiary of Infibeam Global EMEA FZ-LLC, a subsidiary of Infibeam Incorporation Ltd. In June 2020, Ravi Omprakash Agrawal became the largest individual shareholder in Infibeam Avenues Limited.

Partnership

In October 2020, the company signed a deal to license its e-commerce and payment software to Jio Platforms, Reliance Jio's digital platform venture. In 2017, Infibeam and its other partners received a contract to manage the Government e-Marketplace (GeM) portal.

Financials and fall in share price

Though the company had posted healthy profits after taxes in the previous two financial years, the company posted a net profit after tax of less than 1.2 crores in FS 2016–17. However this did not prevent its share price from continuing to soar up in 2017 and 2018 as stock analysts continued to forecast high share prices. Finally, on 29 September 2018, the company's share price crashed by 70%, from Rs. 212 in the previous week to Rs. 53.8, after a whatsapp message circulated sparking rumours of the company's poor financial health.

Businesses

Infibeam's businesses include e-commerce platform software service through 'buildabazaar.com', digital Payments, domain names and other internet services. The turnover of the company was reported to be ₹10 billion as of November 2013.

Digital Payments

Infibeam invested $8.9 million in payment gateway CCAvenue in 2016. In Feb 2017, it announced further investment and likely merger with CCAvenue. In May 2018, Infibeam Inc invested $1.17 million acquiring the 100% stake in Vavian International Ltd, a UAE-based payment gateway. Vivian claims to process of about 2,500 transactions with a transaction value of AED 2 million.

Online retailing

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. It also owns Picsquare.com, a digital photo printing and personalised gifts website.

E-commerce platform

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. The company announced in 2018, that its ecommerce business had achieved break even point and its consolidated net profit grew by 53%

ThemeJungle

The theme store- ThemeJungle is subsidiary of BuildaBazaar. The website launched in January 2018 to support BuildaBazaar stores. It is a marketplace of various themes designed by professional designers. Until May 2018, ThemeJungle has uploaded over one hundred free premium themes.

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 serves digital marketing campaigns for brands.

Generic top level domain name registry

Main article: .ooo

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 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 lets merchants choose modes of delivery such as surface, rail, or air mode, and can opt for delivery commitment SLAs such as express or regular.

Marketplace

In August 2013, Infibeam launched the e-commerce marketplace Dhamaal.com in association with CCAvenue. Dhamaal has a selection of 1fifteen million products. The website is built on Buildabazaar platform, and is extended as a co-branded marketplace with fifty Indian banks.

E-book reader

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. In 2011, Infibeam launched the second version of its e-book reader, Pi2. Pi2 is a touchscreen device and has wireless connectivity. They claim the battery power lasts up to 8,000 page reads. The company has over 500 thousand e-books on its web store which readers can access from the reader to purchase e-books. Infibeam followed the Pi2 with an Android tablet called Phi.

Recognition

In February 2018, Infibeam was ranked 418th in The Financial Times and Statista's FT1000 High Growth Companies Asia - Pacific 2018.

Infibeam was conferred with Consumer Durable & E-Retail of the Year Award at E-Retail Award 2018 by Franchise India held on 16–17 April 2018 in JW Marriott Hotel, New Delhi. At the same award function, Infibeam's subsidiary CC Avenue was conferred with "Best Innovation in E-Commerce Payment".

References

  1. ^ Umarji, Vinay (1 November 2013). "Infibeam to foray into UAE market". Business Standard. Retrieved 6 November 2013.
  2. Dutta, Vishal (19 August 2019). "Fintech firm Suvidhaa plans e-commerce foray". The Economic Times.
  3. "Migration Message" (PDF). Suvideals.ooo.
  4. "Ahmedabad-based e-tailer Infibeam to increase headcount by 2015". The Times Of India. 9 May 2013.
  5. Rai, Anand. "How E-com Firm Infibeam Is Managing Without External Funding". techcircle.in. Retrieved 25 April 2012.
  6. REUTERS (July 2015). "Infibeam files for IPO in first ecommerce listing". Reuters. {{cite news}}: |last1= has generic name (help)
  7. "Infibeam Files for IPO in Indias First E-Commerce Listing – NDTVProfit.com". Profit.ndtv.com. 1 July 2015. Retrieved 31 January 2016.
  8. "IndiGo and Infibeam file for Rs 3,000 crore IPOs – Times of India". Timesofindia.indiatimes.com. 1 July 2015. Retrieved 31 January 2016.
  9. "Vishal Mehta, Infibeam Avenues Ltd: Profile and Biography". Bloomberg.com. Retrieved 16 July 2019.
  10. ^ Sruthijith KK (28 January 2010). "Indian innovation to give Amazon's Kindle run for its money". The Economic Times. Retrieved 29 April 2013.
  11. ^ "Infibeam Expands Logistics To Mumbai And Bangalore". SiliconIndia. Retrieved 10 August 2013.
  12. S. Prem Kumar. "Infibeam's double-edged strategy". The Smart CEO. Retrieved 29 April 2013.
  13. Suresh P. Iyengar (6 October 2013). "No competitors here, all are partners". The Hindu Business Line. Retrieved 8 December 2014.
  14. Pahwa, Nikhil. "Confirmed: Infibeam Acquires Picsquare.com". MediaNama. Retrieved 29 April 2013.
  15. "India gets 2nd e-book reader Wink XTS". The Times of India. 20 August 2010. Retrieved 18 January 2017.
  16. Juneja, Manjari (31 May 2010). "e-book readers: the Indian angle". Express Computer – Financial Express. Archived from the original on 29 June 2013. Retrieved 3 May 2013.
  17. Pandit, Virendra (24 February 2014). "Infibeam acquires digital marketer ODigMa for $5 mn". The Hindu Business Line. Retrieved 2 March 2014.
  18. Shruti, Jain (14 February 2017). "Infibeam set to merge payment gateway firm CCAvenue with itself". Retrieved 13 June 2017.
  19. ^ indiainfoline.com. "Infibeam to acquire Dubai-based payment gateway service provider". Retrieved 11 June 2018.
  20. "Owler Reports - Infibeam: E-tailer Infibeam buys UAE-based digital payments firm". www.owler.com. Retrieved 11 June 2018.
  21. "E-tailer Infibeam buys UAE-based digital payments firm". VCCircle. 21 May 2018. Retrieved 11 June 2018.
  22. "NSE-BSE bulk deals: Ravi Agrawal raises stake in Infibeam Avenues". The Economic Times. Retrieved 21 September 2020.
  23. "Infibeam Avenues signs deal to license ecommerce and payment software to Jio Platforms". The Economic Times. 5 October 2020. Retrieved 11 October 2020.
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