mJunction Services tops our list of the largest ecommerce companies in India with its high value and volume of business.
Image: company logo
It is a 50-50 venture by Tata Steel and Steel Authority of India Limited(SAIL), which shows its strong brand value and market presence. It was founded in 2001 and since then has become the largest ecommerce company in India and also the largest e-marketplace for steel in the world.
Due to online and internet based model, mJunction has been able to bring in transparency, efficiency and convenience in the buying and selling of steel and coal. The company is led by Viresh Oberoi as the Chief Executive Officer and is headquartered in Kolkata.
mJunction was established to improve the supply chain and business processes of an industry. It then moved into new areas of business like e-sourcing, e-selling, e-finance, knowledge services and e-retail across diverse industry verticals. The company operates through various website portals like metaljunction.com, coaljunction.in, metaljunction.com, valuejunction.in, autojunction.in, straightline.in and mjunctionedge. The business model of the company is unusual in terms that it serves both the sides of the supply chain. It removes the intermediaries in the supply chain and brings in transparency by doing online auctions for steel and other materials. The tendency of producers to form cartels also got reduced with the formation of mJunction. Even the smallest bidders can do transaction here. The company’s values of customer focus, innovation, excellence and integrity has led to its tremendous growth.
Since the inception of the company, it has done transactions worth Rs 3,50,000 crores up to 2015. It is also one of the most respected companies in India for its corporate social responsibility endeavors. It has won CSR, responsible supply chain and most innovative company of the year awards judged by various agencies.
GMV = 9.694 billion dollars
The top ecommerce companies were considered and were ranked on the basis of their latest GMVs.