Technoglitch
Core Member
E-commerce companies are burning through hundreds of millions of dollars in India, offering deep discounts to shoppers on everything from smartphones to statues of Hindu gods in a costly battle for market share.
Amazon.com Inc. is facing off against local rivals bankrolled by global venture capitalists. Among them: Flipkart Internet Pvt., valued by investors at $15 billion; Jasper Infotech Pvt.’s Snapdeal, valued at $5 billion; and One97 Communication Ltd.’s Paytm, backed by China’s Alibaba Group Holding Inc.
The largest companies are racking up tens of millions of dollars in losses monthly, investment bankers and industry executives say, the result of markdowns, subsidized shipping and spending on infrastructure and technology as they seek a competitive edge in the world’s second-most-populous country.
Flipkart, Amazon Burn Piles of Cash in E-Commerce War - India Real Time - WSJ
Amazon.com Inc. is facing off against local rivals bankrolled by global venture capitalists. Among them: Flipkart Internet Pvt., valued by investors at $15 billion; Jasper Infotech Pvt.’s Snapdeal, valued at $5 billion; and One97 Communication Ltd.’s Paytm, backed by China’s Alibaba Group Holding Inc.
The largest companies are racking up tens of millions of dollars in losses monthly, investment bankers and industry executives say, the result of markdowns, subsidized shipping and spending on infrastructure and technology as they seek a competitive edge in the world’s second-most-populous country.
Flipkart, Amazon Burn Piles of Cash in E-Commerce War - India Real Time - WSJ