The site hosts user-generated classified advertisements, sorted by various categories. The name "ikman" comes from the Sinhala term "ඉක්මන්" meaning "fast", or "quick".

Launched in June 2012, ikman.lk gained prominence due to its large selection of second-hand and brand new items. According to statistics from Alexa Internet, ikman.lk became the 6th most visited website in Sri Lanka after three months of operation.

The site is developed and maintained by technical teams based in Sweden, although the business development and customer services for ikman.lk are managed by local staff within Sri Lanka.

The website can be used by anyone, with users required to provide a valid email address and need to pay in order to upload advertisements onto the site. All submitted ads are manually screened before being shown on the site, a security measure to ensure that the products and services being offered are authentic and legal.

The ikman.lk website is considered to be the first classifieds portal in the country to offer content in English as well as the country's main Sinhala and Tamil languages