The Hindu Business Line : Baazee.com to focus on South

BAAZEE.COM, the Mumbai-based e-commerce site, plans to increase its seller base in the south, especially in Chennai and Bangalore, and is organising a series of road shows to raise awareness among sellers. The three-year-old online platform has over 1,500 categories traded on it and provides seller support in five locations across the country. The categories include art, antiques, personal loans, electronics, music and real estate.

Mr Suvir Sujan, Co-CEO, Baazee.com, said that the site was used by a number of major banks to auction repossessed cars.

The site has 2.6 million registered users and close to one lakh users with products listed from various parts of the country.

Mr Sujan said that similar business models have been worked out in emerging markets like Taiwan, Latin America and Mexico.

One of the reasons for the success of Baazee.com in India has been the poor distribution network within the country, he said. Each region has unique products but reaching these products in the markets is difficult. The online trading platform provides users in smaller towns an access to such products.

The investment into the site has been $20 million with majority shareholders being Star TV and ICICI Bank. The company had spent a little more than $10 million and was on the verge on making a profit this fiscal, Mr Sujan said.

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