wordpress blog stats
Connect with us

Hi, what are you looking for?

IndiaPlaza.com goes offline

One of India's e-commerce pioneers Indiaplaza.com doesn't appear to be in business any more. We visited IndiaPlaza's office in Ulsoor, Bangalore, only to find out that the office had shut seven months ago. We checked the website's status several times last week, and each time, it was inactive. We got the same results when we confirmed the domain status on IsItDownRightNow.com. An email sent to Indiaplaza CEO K Vaitheeswaran on his IndiaPlaza id to confirm the news bounced. Attempts over the last week to contact Vaithee via calls, text and email haven't yielded a response. Medianama also tried calling IndiaPlaza's customer care - but the listed numbers didn't work. Wikipedia's IndiaPlaza page states that “As of March 2014 the site has already shut down. They no longer maintain it. The last updates from them where around Diwali 2013." However, at the time of writing this report, the Wikipedia entry doesn't cite a source for this information. IndiaPlaza reportedly failed to raise fresh funds last year. It received its last funding in April 2011 - $5 million from Kalaari Capital (earlier IndoUS Venture Partners). Speaking to Medianama, Vaitheeswaran said in March 2013 that they were looking for funding in the region of $5 million, but they were struggling to raise funds since investors are spooked by India’s FDI policy in e-commerce, and global e-commerce giants like Amazon are lobbying for it even now. However, IndiaPlaza was a marketplace, a model in which FDI is allowed. IndiaPlaza was launched in 1999 and became popular in the…

Please subscribe/login to read the full story.
Written By

Free Reads

News

"We believe the facts and the law are clearly on our side, and we will ultimately prevail," the company said on the enactment of...

News

Zuckerberg expressed confidence in monetizing AI through methods like ads and paid access to larger models, leveraging Meta's successful history with scaled technologies.

News

The data leakage comes on the same day as the Reserve Bank of India (RBI) restricted Kotak Mahindra Bank from onboarding customers over online/mobile...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ