Failing to Succeed: The Story of Indias First E-Commerce Company by K. VaitheeswaranIn 1999, when hardly anyone in India transacted on the Internet, K. Vaitheeswaran co-founded India’s first e-commerce company. Yet, years later, when e-commerce was exploding in India—despite enjoying first-mover advantage—Indiaplaza shut down. What went wrong? Lack of funding? Wrong strategies? Or was it ‘something else’?
For the first time ever, Vaitheeswaran reveals that it was indeed something else—a set of inexplicable events that destroyed what could have been a profitable business (an extreme rarity among technology start-ups). He bares his extraordinary trials and tribulations while dealing with business failure and the impossible pressures that can threaten entrepreneurs in India. Coming at the back of stories of young start-ups raising billions of dollars in funding and creating unicorns in just a few years, as well as the recent setbacks in the e-commerce industry, Failing to Succeed delves deep into the dark side of starting up and its myriad pitfalls.
Filled with interesting anecdotes, tongue-in-cheek observations, amazing customer insights, hard-hitting predictions and behind-the-scenes industry happenings, this book is an extraordinary unravelling of the challenges facing technology start-ups in India. It is a must-read for aspiring entrepreneurs, investors, industry professionals or business school students, and anyone interested in India’s start-up ecosystem.
A powerful narration, Failing to Succeed is eventually about finding ways to move forward and succeed despite failures...
Why India's e-commerce pioneer does not see Flipkart turning profitable. Ever
The e-commerce has transformed the way business is done in India. Much growth of the industry has been triggered by increasing internet and smartphone penetration. During , electronics is currently the biggest contributor to online retail sales in India with a share of 48 per cent, followed closely by apparel at 29 per cent. The timely and effective implementation of such programs will likely support the e-commerce growth in the country. Some of the major initiatives taken by the government to promote the e-commerce sector in India are as follows:.
A dedicated team of journalists follow the trillions made and lost in tech, serving crisp analysis, expert opinions and two weekly newsletters to be your guide to global tech trends and their economic impact. Sign in. Choose your subscription. For 4 weeks receive unlimited Premium digital access to the FT's trusted, award-winning business news. Premium Digital.
K Vaitheeswaran is someone who can effortlessly inspire you. He has been a pioneer in the Indian e-Commerce scene and has been one of the important people who have built the industry into what it is today. K Vaitheeswaran was bitten by the internet bug after almost 14 years in the corporate world. He co-founded Fabmart. The 25 years of rich experience in the e-Commerce industry reflect in his straight, to-the-point answers. We picked his brains on how far the industry has come and where it could potentially go.
Before there was Flipkart, Myntra, and Snapdeal, there was Fabmart. Before the Bansals, there was K Vaitheeswaran. Fabmart was acquired by Aditya Birla Group and rebranded to More.
five conversations you must have with your son