The E-commerce industry in India is going through some turbulent times, and websites are either shutting down or being acquired. Here’s a quick overview of all the e-commerce companies that have either shut shop or been acquired this year.
May 29, 2013: Flyte, sold music, Flipkart’s online music store, lack of consumer uptake for a single track model seen as reason for shut down (more at Medianama)
May 21, 2013: KoolKart.com, sold women & men apparels and fashion products, no reason cited (via NextBigWhat)
April 1, 2013: SeventyMM, online movie rental store, funded by Matrix Partners India, Draper Fisher Jurvetson, ePlanet Ventures and NEA- IndoUS Venture partners, lack of growth opportunities in DVD rentals seen as reason for shutting down (via Medianama)
There have also been acquisitions in the ecommerce space resulting in consolidation.
May 31, 2013: Snapdeal acquired Shopo.in, online marketplace for handicrafts products for undisclosed sum.
February 1, 2013: Inkfruit merged with Zovi.
11 shut, 7 acquired so far in 2013. It is worth noting that most of the websites that shut down have been lifestyle stores.
Acquisitions and Shut Downs in 2012
November 8, 2012: Myntra acquired SherSingh and Exclusively.
This is probably not a comprehensive overview – only what has been reported so far. Do let us know in the comments (or via our anonymous tip off) if there are other companies that we may have left out.
Updates: Added acquisitions and Shutdowns from 2012