Infomedia, Alibaba.com develop online community for Indian SMEs

Infomedia has tied up with the Chinese B2B site, Alibaba.com, to create an online community using which SMEs can promote their products and services

Infomedia India, which publishes the business directory, Yellow Pages, and special interest magazines such as Overdrive, Chip and Better Photography, has entered into a multi-year strategic partnership with the Chinese B2B e-commerce portal, Alibaba.com.

The partnership will benefit small and medium sized enterprises (SMEs) in India as Alibaba.com will create an online community of Indian business people on the site and provide them with a cost-effective channel to promote their products and to source materials from suppliers in India and around the world. It will also provide SMEs in India with the latest industry news and technical developments in multimedia formats.

India has more than eight million SMEs, and it is estimated that three million SMEs are engaged in B2B (business to business) trade.

In 2007, Alibaba.com launched a special India channel to help Indian suppliers find local and global buyers for their products and services. Some 400,000 Indian members have already joined the site and, with more than 20,000 Indian companies signing up each month since January 2008, Alibaba.com is expecting to double its Indian membership base in the near future.

In an official communiqué, Prakash Iyer, managing director, Infomedia, stated, “Infomedia is delighted to bring to Indian businesses the global reach and strengths of Alibaba.com. We have a long history of helping SMEs grow their business and this partnership with Alibaba.com will help Indian businesses grow to their fullest potential worldwide. The partnership will bring value to Indian SMEs by giving them a larger, multimedia business platform encompassing domestic and global trade services.”

David Wei, chief executive officer, Alibaba.com, added, “With its huge growth potential, India is a very important and strategic market for Alibaba.com and is a top priority for our global expansion plans. While Alibaba.com is the expert in helping small businesses trade internationally, Infomedia brings us a strong understanding of the Indian SME and B2B market. With Infomedia, we have a strong local partner who can provide on the ground support for our members, including sales, marketing and customer service. We believe this alliance will help us become the dominant online B2B marketplace in India by the end of 2008.”

Infomedia is a part of the Network18 Group, which acquired 53 per cent stake in it in December 2007. Yahoo! holds 39 per cent stake in the Alibaba Group.