GMV

GMV is the total value of goods sold through a platform or marketplace, before deducting the platform's own commission or fees.

GMV is a marketplace and platform-business metric, not a revenue figure — a marketplace that takes a 10% take rate on ₹10 crore of GMV has ₹10 crore in GMV but only ₹1 crore in actual revenue. Reporting GMV alongside revenue without clarifying the difference is a common way marketplace and ecommerce-adjacent companies make their scale look larger than their actual top line.