Flipkart's successful raising of $200 million (about Rs 1200 crore) in its fifth round of funding could well mark the launch of version 3.0 for India's still fledgling but rapidly maturing e-commerce activity.
The timing of this announcement could not have been more propitious since till just before this event, there were growing legions of sceptics questioning the viability of merchandise-oriented e-commerce business models in India and others who felt that e-commerce may have a future in India but only many years down the line.
Perhaps some of these sceptics would now give a fresh look at the potential of e-commerce and begin to accept that it is a phenomenon whose time has already come, even in India.
Text: Arvind Singhal, Business Standard
Image Courtesy: Flipkart