Building India’s Amazon: Flipkart CEO Sachin Bansal (Part 2)

Sramana: Why did you decide to write a comparative shopping engine?

Sachin Bansal: They were a big thing in the U.S. but there were not any in India. We started doing some market research. We found that there were almost no other sites to compare against. Rearden Commerce was the only company that had any real offerings in India, but it was not really doing a good job. We concluded that comparative shopping in India would probably be a bad thing because there was no user market. >>>

Building India’s Amazon: Flipkart CEO Sachin Bansal (Part 1)

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[Also check out my Entrepreneur Journeys book, Seed India – How To Navigate The Seed Capital Gap in India]

I first learned about Flipkart when I discovered that Flipkart is the only e-commerce company in India that is selling my books online. Subsequently, they became the only company in India to sell all five of my books, since I have chosen not to sell the publishing rights to Vision India 2020, Entrepreneur Journeys Volume Three: How To Test, Validate and Bring Your Idea to Market, and Entrepreneur Journeys Volume Four: Innovation, Need Of The Hour to my original publisher, Hachette India, because they offered me horrible terms.

Today, it is my pleasure to bring you our next Entrepreneur Journeys story, a conversation with Sachin Bansal, one of the pioneers in e-commerce. Sachin and his partner Binny are working on building India’s Amazon.

Sramana: Sachin, let’s begin by exploring the genesis of your story. What is your background?

Sachin Bansal: I am originally from Chandigarh, which is the capital of Punjab. My business partner, Binny, is also from Chandigarh. We are not related in any way, it just happens to be a coincidence that we are now working on Flipkart together. We both grew up in Chandigarh and went to the same schools yet did not know each other well. >>>

The 1M1M Deal Radar 2010: Plimus ,Fremont, California

Deal Radar continues its comprehensive coverage of e-commerce solutions with Plimus, a hosted e-business platform that clients use to market, sell, and distribute digital goods online. It comprises a hosted e-commerce application, which the company believes is particularly suited to enabling independent companies to quickly get their products and services available for purchase online across the globe; and a newly launched e-commerce application programming interface API (Buy Anyware) that enables clients to embed e-commerce into any Internet-connected application, eliminating the need for a virtual storefront. >>>

1Mby1M Deal Radar 2010: 3dcart, Tamarac, Florida

Deal Radar continues its coverage of all things e-commerce with 3dcart, a software provider that supplies programming, technical support, templates, SSI certificates, and other products and services needed to sell products online. The software is integrated with all major shipping carriers (USPS, UPS, FedEx, DHL) and several major accounting packages (QuickBooks, Mas90, Peachtree). >>>

1Mby1M Deal Radar 2010: Blacksocks, Zurich

Blacksocks is an e-commerce site that delivers high-end socks for men by “sockscription.” Customers can select the quantity and frequency to receive socks automatically or order individual pairs from a selection of five styles: calf-length business socks, business light (made from a lighter cotton), knee socks, sport socks, or cashmere socks. The company also carries ski socks. >>>

The 1M1M Deal Radar 2010: SitStay ,Lincoln,Nebraska

SitStay, Inc. started as an online mom-and-pop dog supply store that has become one of the largest dog supply retailers on the Internet, defying conventional wisdom about the viability of selling pet products online. Readers may recall the failure of Petopia and the collapse of Amazon-backed Pets.com, which raised $82.5 million in an IPO in February 2000, bought rival Petstore.com in June 2000, and folded in November 2000. SitStay, which was founded in 1998, survived perhaps in part because of its niche approach. With a focus on “good for your dog supplies,” SitStay believes strongly that the health of the dog comes first. This philosophy has led it to focus on healthy dog treats, chews, and foods, and safe dog toys and equipment. >>>

Deal Radar 2010: Volusion ,Austin, Texas

According to some analysts estimates, nearly 20,000 entrepreneurs open online storefronts every week, and the growth in e-commerce sales continues to outstrip that of sales in physical stores. Early online players such as Dell and Starbucks are now joined by luxury watchmaker Longines and clothing designer Roberto Cavalli. With so many businesses now on the Web, there is a strong need for e-commerce products. Volusion makes software and offers design and marketing services for entrepreneurs setting up online stores.
>>>

1Mby1M Deal Radar 2010: ShopForBags.com

ShopForBags (SFB) is a women-owned apparel and handbags distributor that targets small-town salons, boutiques, and retail outlets. It also has its own private label, Katydid. The company sells handbags, messenger bags, laptop bags, belts and wallets, and apparel for women, men, and children. >>>