Updated: India’s E-commerce Deadpool – Till June 2013


Updated Below

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.

June 4, 2013: 21Diamonds.in, sold jewelry, backed by Rocket Internet (via iamwire)

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)

May 21, 2013: Rock.in, sold high-end international clothing, funded by Partech International, no reason cited (via NextBigWhat)

May 16, 2013: Aporv, sold Indian handicrafts, no reason cited (via NextBigWhat)

May 7, 2013: HutK.com, NRI centric website, backed by Times Internet, pivot to Indian e-commerce market cited as reason for shut down (via Nextbigwhat)

May 6, 2013: Timtara, sold electronics, founders arrest on fraud could be reason for the shut down (via Nextbigwhat)

April 1, 2013: Wopshop.com, sold toys and games for children, no clear reason cited for shut down (via Medianama)

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)

March 5, 2013: Urban Touch, sold fashion and beauty products, previously acquired by FashionAndYou, disagreement between the teams cited as reason for shutting shop (more at MediaNama)

February 7, 2013: Travelocity.co.in, sold hotel bookings, no clear reason cited for shutting down (via Medianama)

Acquisitions:

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.

April 5, 2013: Myntra acquired San Francisco based virtual fitting room startup Fitiquette for undisclosed sum.

February 1, 2013: Inkfruit merged with Zovi.

Total

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.

August 13, 2012: MangoStreet.com, e-store for kids, acquired by Hushbabies the same day (via VCCircle)

May 29, 2012: Esportsbuy.com, sold sports goods, acquired by Snapdeal on April 4, 2012 (via Techcircle.in)

May 29, 2012: LetsBuy, sold electronics and gadgets, acquired by Flipkart on February 9, 2012 (via Medianama)

 

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

Category : eCommerce, Internet | Tags :

  • moronkreacionz

    Does this mean, lifestyle segment users prefer purchasing from local/retail lifestyle stores and not online?

  • Deepak

    You’ve missed out on Letsbuy, It wasn’t a lifestyle store. Purchased by Flipkart.

  • Amit Goswami

    In my view the customers are still not confident of big ticket purchases on the web becuase companies in India are now known for customer focus…laws do not support a consumer either…so what people are doing is buying low ticket value items like books etc but clothes inspite of being claimed original brand can be dupes etc so is with some of the other items….It is the trust factor in our overall society that impacts a business like this because people get cheated inspite of looking at things because business in India is only interested in making money of you and not provide service so how can you part your hard earned money to a website who might not deliver you the product and keep your money as well…

  • Anonymous

    I guess you missed out on buytheprice. Merged with tradus.

  • anish nagpal

    koovs.com and 99labels.com gonna shut down

    also kaunsa.com soon

  • Antidote

    Why is it noteworthy that e-commerce startups are shutting down?
    1. Startups are dead by default. 99% fail. Why not list all startups that die?
    2. If a few e-commerce startups shut down, how does it prove the point that e-commerce is going through turbulent times? (I’m not challenging the fact that it is going through turbulent times. That might be true for different reasons). E-Commerce is a business model with high fixed costs, and only functions profitably at scale. Therefore, it’s only natural that 99 out of 100 e-commerce startups will shut down and probably 3-5 may scale (and may see good exits). Clearly, not all startups (funded or not) are going to scale. It seems this is very hard for the layman to understand, and therefore the fixation with e-commerce funding and shut-downs – is this the correct understanding?

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