Indian E-Commerce Firm Flipkart Announces Another $700 million in Investments
The most current e-commerce statistics from Statista.com state that 40% of internet users worldwide have purchased products or goods online, and that number is only expected to grow. Although it may seem like world e-commerce leader Amazon is poised to take over the rest of the market, a newbie company from India may give it a run for its money.
Sachin and Binny Bansal (who are not related) started their careers in e-commerce in 2007 as Amazon.com engineers, assisting the U.S.-based company with its expansion into India, where the two men are from. Now, the Bansals' post-Amazon small business venture is set to oust Amazon as the top online retailer in India.
India's young e-commerce market is currently being dominated by Flipkart, the brainchild of the two Bansals, and they recently anno...