5: INDIA’S E-COMMERCE GOLDEN ERA FINALLY ARRIVES

0.     “Young Turks,” CNBC, https://www.youtube.com/watch?v=9CUllBw3OsU.

0.     Ibid.

0.     Vikas Bajaj, “In India, Online Retailers Take a New Tack,” New York Times, September 15, 2011, http://www.nytimes.com/2011/09/15/business/with-no-amazon-as-a-rival-flipkart-moves-fast-in-india.html.

0.     Anusha Soni and Itika Sharma Punit, “Flipkart Raises $160 mn from New, Existing Investors,” Business Standard, October 9, 2013, http://www.business-standard.com/article/companies/flipkart-raises-160-mn-from-new-existing-investors-113100900412_1.html.

0.     Soni and Punit, “Flipkart Raises $160 mn from New, Existing Investors; Jubin Mehta, “Flipkart Launches Its Marketplace with 50 Sellers Onboard,” Yourstory, April 6, 2013, https://yourstory.com/2013/04/flipkart-launches-a-marketplace-platform-onboards-50-sellers/; “Amazon.co.jp Launches Amazon Marketplace Enabling Third Party Buyers and Sellers to Trade Online,” undated Amazon press release, http://phx.corporate-ir.net/phoenix.zhtml?c=176060&p=irol-newsArticle&ID=503055.

0.     Alok Soni, “Everything You Wanted to Know about the Flipkart-Myntra Deal,” YourStory, May 22, 2014, https://yourstory.com/2014/05/flipkart-myntra-acquisition/; Saritha Rai, “Online Retailers Hustle to Build an Alibaba in India, Take on Amazon,” Forbes, May 22, 2014, http://www.forbes.com/sites/saritharai/2014/05/22/local-online-retailers-hustle-to-build-an-alibaba-in-india/#5e746f79145a.

0.     Prince Thomas, “Who Will Be India’s Alibaba, SnapDeal or Flipkart?” Forbesindia.com, May 28, 2014, http://www.forbesindia.com/blog/business-strategy/who-will-be-indias-alibaba-snapdeal-or-flipkart/.

0.     NDTV, “Walk the Talk with the Snapdeal Founders Kunal Bahl and Rohit Bansal,” April 1, 2016, http://www.ndtv.com/video/shows/walk-the-talk/walk-the-talk-with-snapdeal-founders-kunal-bahl-and-rohit-bansal-410161.

0.     Ibid.

0.   Ibid.

0.   Kunal Bahl, interview by author, February 19, 2016, Delhi.

0.   “Get to Know Snapdeal,” Snapdeal.com, http://www.snapdeal.com/page/about-us.

0.   Bahl interview by author.

0.   PTI, “Invested $300 Million in Supply Chain, Logistics in 18 Months: Snapdeal,” Economic Times (India), May 13, 2016, http://economictimes.indiatimes.com/industry/services/retail/invested-300-million-in-supply-chain-logistics-in-18-months-snapdeal/articleshow/52243823.cms.

0.   Richa Maheshwari, “Ecommerce Majors Amazon, Flipkart Together Rented about 3.6 Million Square Feet Warehouse Space in 2015,” Economic Times (India), January 29, 2016, http://economictimes.indiatimes.com/wealth/personal-finance-news/ecommerce-majors-amazon-flipkart-together-rented-about-3-6-million-square-feet-warehouse-space-in-2015/articleshow/50764978.cms.

0.   “In an Industry First, Snapdeal Launches Multi-lingual Platform in 12 Languages and Brings Digital Commerce Closer to the Next 130 Million Indians,” Snapdeal.com blog, December 15, 2015, http://blog.snapdeal.com/in-an-industry-first-snapdeal-launches-multi-lingual-platform-in-12-languages-and-brings-digital-commerce-closer-to-the-next-130-million-indians/.

0.   Reuters, “Micromax Has Lost Nearly 50 Percent Market Share in One Year. Here’s Why,” DNA India, March 13, 2016, http://www.dnaindia.com/money/report-how-did-micromax-lose-nearly-half-of-its-market-share-in-one-year-2188696.

0.   Shelley Singh, “How Ban on Discounts Have Changed Behaviour of Online Buyers,” Economic Times (India), July 12, 2016, http://economictimes.indiatimes.com/industry/services/retail/how-ban-on-discounts-have-changed-behaviour-of-online-buyers/articleshow/53163899.cms.

0.   Ratna Bhushan, “Maggi Ban Impact: Nestle India May Take 3 Years to Recover,” Economic Times (India), February 24, 2016, http://economictimes.indiatimes.com/industry/cons-products/food/maggi-ban-impact-nestle-india-may-take-3-years-to-recover/articleshow/51114562.cms.

0.   Vivienne Walt, “Amazon Invades India,” Fortune, December 28, 2015.

0.   Jason Dean, “Bezos Says Amazon Will Boost Investment in China,” Wall Street Journal, June 6, 2007.

0.   Dhanya Ann Thoppil, “India’s Flipkart Raises $1 Billion in Fresh Funding,” Wall Street Journal, July 29, 2014, http://www.wsj.com/articles/indias-flipkart-raises-1-billion-in-fresh-funding-1406641579.

0.   “Amazon Goes One Up on Flipkart, to Invest $2 bn,” Business Standard, July 31, 2014, http://www.business-standard.com/article/companies/now-amazon-announces-2-billion-investment-in-india-114073000379_1.html.

0.   PTI, “Amazon to Increase Investment India to $5 billion,” The Hindu, June 8, 2016, http://www.thehindu.com/business/Industry/amazon-to-increase-investment-india-to-5-billion/article8704018.ece.

0.   Mihir Dalal, “Amazon Flags Regulatory Risk in India,” Live Mint, October 31, 2014, http://www.livemint.com/Companies/9nBMMc6YYN3MvP2LxNojgO/Amazon-flags-regulatory-risk-in-India.html; “India Approves Foreign Investment in E-commerce Sector,” Reuters, March 30, 2016, http://in.reuters.com/article/india-ecommerce-fdi-idINKCN0WV248.

0.   Shilpa Phadnis, “Flipkart, Amazon Will Have to Downsize WS Retail, Cloudtail,” ET Tech blog, Economic Times, April 1, 2016.

0.   Madhav Chanchani, “Amazon India’s Growth Threatens to Unsettle Ecommerce Firms Like Flipkart and Snapdeal,” Economic Times (India), May 16, 2016, http://economictimes.indiatimes.com/industry/services/retail/amazon-indias-growth-threatens-to-unsettle-ecommerce-firms-like-flipkart-and-snapdeal/articleshow/52284757.cms; Alnoor Peermohamed, “Amazon Slashes Sellers’ Fees to Take on Flipkart,” Business Standard, June 17, 2016, http://www.business-standard.com/article/companies/amazon-slashes-seller-commissions-to-undercut-flipkart-snapdeal-116061600205_1.html.

0.   Maheshwari, “Ecommerce Majors Amazon, Flipkart Together Rented.”

0.   Jeff Bezos, 2016 letter to Amazon shareholders, https://www.sec.gov/Archives/edgar/data/1018724/000119312516530910/d168744dex991.htm.

0.   Jubin Mehta, “Paytm’s Move into Mobile Commerce: A Zero Commission Marketplace,” YourStory, April 25, 2015, https://yourstory.com/2015/04/paytms-zero-commission-marketplace/.

0.   Jai Vardhan, “Jack Ma’s Alibaba Enters India by Buying 25% Stake in Paytm,” YourStory, February 5, 2015, https://yourstory.com/2015/02/jack-mas-alibaba-enters-india-buying-25-stake-paytm/.

0.   James Crabtree, “Vijay Sharma, Paytm: An Alibaba for India,” Financial Times, November 18, 2015.

0.   Vijay Shekar Sharma, phone interview by author, April 30, 2016.

0.   Jai Vardhan, “Paytm Becomes the Largest Digital Commerce Company in India, Reports 350% Growth in 2013 over 2012,” YourStory, May 7, 2014, https://yourstory.com/2014/05/paytm-digital-commerce/.

0.   Bahl interview.

0.   Richa Maheshwari, “Indian eCommerce Market to Grow Fastest Globally over 3 Years: Morgan Stanley,” Economic Times (India), February 18, 2016, http://economictimes.indiatimes.com/industry/services/retail/indian-ecommerce-market-to-grow-fastest-globally-over-3-years-morgan-stanley/articleshow/51031652.cms.

0.   Trefis Team, “Amazon Tops Indian E-Commerce Market in Web Traffic,” Forbes, June 27, 2016, http://www.forbes.com/sites/greatspeculations/2016/06/27/amazon-tops-indian-e-commerce-market-in-web-traffic/#1dc2285dc13b.

0.   Richa Maheshwari, “E-commerce Boom in India Attracting Artisans, Entrepreneurs from Slums across the Country,” Economic Times (India), February 19, 2016, http://economictimes.indiatimes.com/industry/services/retail/e-commerce-boom-in-india-attracting-artisans-entrepreneurs-from-slums-across-the-country/articleshow/51047812.cms.

0.   EMarketer, “Worldwide Retail Ecommerce Sales,” August 2016.

0.   Sandeep Aggarwal, phone interview by author, March 29, 2016.

0.   Ibid.

0.   “Digital Payments Soar by Up to 300% after Demonitisation,” Times of India, December 10, 2016.

0.   Malavika Velayanikal, “What Are the Hottest Sectors for Venture Capital in India This Year? (INFOGRAPHIC),” Tech in Asia, October 22, 2015, https://www.techinasia.com/hottest-sectors-venture-capital-india-infographic.

0.   IANS, “E-commerce to Invest $8 Billion in Infrastructure, Logistics in India: Study,” Economic Times (India), June 29, 2016, http://economictimes.indiatimes.com/articleshow/52972911.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst; Emmanuel Amberber, “Investors Pump $9 Billion into Indian Startups in 2015—That’s 50 Percent of the Past 5 Years’ Total Deal Value,” YourStory, December 31, 2015, https://yourstory.com/2015/12/indian-startups-raise-9billion-2015/.