India’s great ecommerce wars are well and truly on, and the three main players – Flipkart, Amazon and Snapdeal – are battling it out for a share of the Indian comsumer’s attention this festival season. Flipkart’s much vaunted Big Billion Day sale around the corner, and all eyes are on the event after the fiasco last year when the sale had left thousands of customers angry and the company had to issue an apology for the site crashing during the event.
Snapdeal has had an eventful year. It has been growing at a frentic pace, having raised its headcount by 5 times and building a swanky new office in Gurgaon. Its valuation has increased from $2 billion to a cool $4.7 billion. But worryingly, the company has also seen a corresponding increase in its losses – Snapdeal incurred a loss of Rs. 1350 crore over the past year, a five fold increase over its loss of Rs. 264 crore last year.
It’s boom-time for startups across the world. The unicorn, or a startup with a valuation greater than $1 billion (so named because it used to be as rare as the mythical creature), has now become commonplace. As of 2015, 107 companies across the world feature in this elite list.
The top startups in India in 2015 are, keeping with the times, mostly internet based companies. Mu Sigma, a Bangalore-based analytics firm, makes an interesting entry into the list.