Letter From The Editor: Surviving the Perfect Storm
n the last edition, I had raised the issue of how we, as a nation, need to nurture many more first-generation entrepreneurs. There is an absolute dearth of such role models in India. Which is why Flipkart, founded by two friends from IIT-D—Sachin and Binny Bansal—is the poster-boy of India’s internet economy. With the exception of makemytrip.com, there aren’t too many new entrepreneurial ventures in the last 10 years that have created—or are even likely to create—billion-dollar enterprises. Anyone who has ordered music or bought books from their site even once would testify to just how nifty their service is. And it would be fair to say that they’d be amongst the most popular online brands in the country.
So why on earth do we have a cover that seems to suggest that things aren’t exactly hunky-dory inside Flipkart? Simply because that’s the way things really are. We’ve studied Flipkart for weeks, spoken to scores of people—inside and outside the firm—and vetted our hypothesis carefully to bring you a dramatic story that is bound to give you a whole new perspective on one of India’s best known online firms.
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- Catching them young: VCs making deals at the seed stage
- Jaitley promises a big push to startups; industry remains sceptical
- Pepperfry.com raises $15 mln from Bertelsmann India Investments and NVP
- DST Global pumps $210 million into Flipkart