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Three top level executives resigned from top management level in <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a>, day after the e-commerce giant named new CEO Kalyan Krishnamurthy, who is building his team of top executives primarily consisting of company veterans. 
 
The executives leaving the company are <a href="http://www.businessinsider.in/searchresult.cms?query=Saikiran+Krishnamurthy&amp;sortorder=effectivedate">Saikiran Krishnamurthy</a>, who headed the e-tailer supply chain unit Ekart; senior vice president <keyword id="373799" type="PERSON" weightage="20" keywordseo="Surojit-Chatterjee">Surojit Chatterjee</keyword>, who headed product and chief marketing officer <keyword id="2327848" type="UNKNOWN" weightage="20" keywordseo="Samardeep-Subandh">Samardeep Subandh</keyword>. 
 Reportedly, the three of them had joined <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> in 2015 when Flipkart was aggressively hiring top talent from outside after raising over $2.6 billion in funding between 2014 and 2015. 
 
The reason for the departure of three executives could not be immediately ascertained. 
 The exit of these executives comes after Flipkart announced that Kalyan Krishnamurthy will be the CEO of the main horizontal commerce unit and also oversee <keyword id="2057197" type="UNKNOWN" weightage="20" keywordseo="eKart">Ekart</keyword>. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Binny+Bansal&amp;sortorder=effectivedate">Binny Bansal</a> was elevated to Group CEO and will oversee other businesses, including payments (PhonePe) and fashion (Myntra, Jabong), in addition to finding new growth drivers for the group. 
 
As a part of this reorganisation Nitin Seth, current chief administrative officer at Flipkart, was made the COO for Flipkart with additional responsibility for Ekart and customer experience besides HR, strategy and corporate functions. 
 Seth was directly reporting to Kalyan Krishnamurthy under the new structure. <keyword id="2748488" type="UNKNOWN" weightage="20" keywordseo="Saikiran-Krishnamurthy">Saikiran Krishnamurthy</keyword>, a strategy expert from <keyword id="6372399" type="COMPANY" weightage="20" keywordseo="McKinsey">McKinsey</keyword>, was initially roped in as COO of Flipkart's commerce unit and later went onto lead Ekart. 
 Other two executives - chief product officer <keyword id="278552" type="PERSON" weightage="20" keywordseo="Punit-Soni">Punit Soni</keyword> and chief technology officer <keyword id="4052975" type="UNKNOWN" weightage="20" keywordseo="peeyush-ranjan-">Peeyush Ranjan -</keyword> left the company last year.

Top 3 executives leave Flipkart, restructuring continues

Eyeware retailer <keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> has raised Rs 135 crore in fresh capital in its third round of funding. The company has in its Series C (final rounding of early funding cycle) raised the funds as co-investment from <keyword id="141646" type="COMPANY" weightage="20" keywordseo="TPG-Growth">TPG Growth</keyword> along with Hong Kong-based TR Capital and its existing investor IDF Ventures. 
	 Interestingly, the company has raised a total of Rs 200 crore in three rounds of funding that has happened so far. In February 2013, the company had received an investment of Rs 53 crore from <keyword id="25725" type="PERSON" weightage="20" keywordseo="Ronnie-Screwvala">Ronnie Screwvala</keyword>’s Unilazer Ventures along with IDG Ventures India. 
	 
	“In TPG, we found strategic partners and advisors with proven capability to build a large consumer-centric enterprise. The TPG brand is another feather in our cap. With this new investment, we will be hiring the best talent and give them a world-class environment to innovate and solve India’s eyewear problems at a very large scale,” said Peyush Bansal, CEO &amp; Founder of Lenskart. 
	 
	Commenting on the same, Manas Tandon, Director, TPG Growth said, “TPG globally is an active investor in the Internet sector. We are excited about the evolution of Internet in India and are delighted to partner with Lenskart as our first investment in this space. The Lenskart team brings to the table an impressive focus on customer service and keen commercial instincts, thereby building a dominant position in the eyewear space, while maintaining attractive unit economics.” 
	 Currently, the company clocked in revenues of nearly Rs 100 crore and has been growing at 15% every month. Lenskart was founded in 2010 by <keyword id="2674246" type="UNKNOWN" weightage="20" keywordseo="Peeyush-Bansal">Peeyush Bansal</keyword> along with Amit Chaudhary and Sumeet Kapahi. The company claims to have grown by over 200% year on year.

Lenskart
Raises Rs 135 Crore As Fresh Capital

<ul><li>SpotDraft recently raised $1.5 million in a pre-series A from Binny Bansal’s 021 Capital, Freshworks CEO Girish Mathrubootham, among others. </li><li>The legal tech startup offers contract creation, management and analysis. </li><li>Indian unicorn entrepreneurs are turning into investors with a purpose – to help startups scale. </li></ul>A small Indian legal tech startup has been able to do what many early-stage entrepreneurs only dream of. SpotDraft has recently raised $1.5 million in a pre-series A round from Binny Bansal’s 021 Capital and several marquee investors like Girish Mathrubootham (Freshworks), Peeyush Ranjan (VP Engineering, Google Inc – former CTO Flipkart) and Indus Khaitan (Chief of Growth, Chargebee) among others. SpotDraft, which started off as an online platform to help people create contracts and automate their invoices, has evolved to offer contract creation, contract management and contract analysis. For example, it claims it helps businesses create a solid legally-binding contract, which they can negotiate and explore online. Its Machine Learning and Artificial Intelligence-enabled services allow them to share with entrepreneurs the good, bad and ugly aspects about the contract. It can quickly help identify compliant and non-compliant clauses of a contract. Shashank Bijapur, CEO and co-founder, SpotDraft spoke to Business Insider to spill the secrets on how they convinced the marquee investors to place their bets on a startup which is just about two years old. According to Bijapur, what worked for them was the value proposition of the business. “At a high level, the problem statement and solution were very clear. Legal as a problem is ripe for disruption making way for complete automation of legal processes that a business has to undergo,” he said. Legal paperwork is one of the many hurdles that businesses and entrepreneurs face, especially in a market like India where these tend to be time-consuming. Compliance is also increasingly becoming an important exercise, as regulations become more complex. It also helped that Bijapur, a Harvard law grad and Wall Street lawyer and his co-founder Madhav Bhagat, a Carnegie Mellon graduate and Google, New York employee, had their background to vouch for them as well. With the funds raised from this round, it is looking to focus on growth in terms of team, sales and development. In the near future, it plans to expand geographies to Europe, US and Middle East, while also looking to grow revenue 10X over the next 12-14 months. The investment is also the latest example of Indian unicorn founders turning into evangelists for startups in the country, through mentoring and investments. Many aren’t just looking at being moneybags but also contribute to the success of other startups. “As founders, the access to capital may not have been as difficult as finding the right people for your business – people who can take us from 0 to 1. The value that these investors brought on board is immense and even before we were given the term sheet, we were introduced to half a dozen clients,” said Bijapur. Currently, the startup has over a dozen multi-national corporations as well as 1,000 SMEs as customers. Among its customers include Wipro, Goodtimes and The Circle, according to the company’s web site. See Also: <a href="https://www.businessinsider.in/indias-two-startup-icons-switch-to-the-other-side-as-venture-capitalists/articleshow/67420444.cms">India’s two startup icons switch to the other side — as venture capitalists</a> <a href="https://www.businessinsider.in/angel-tax-startup-definition-changed-exemption-up-to-25-crore/articleshow/68063050.cms">Indian government finally comes to a decision on Angel Tax, changes definition of startups</a> <a href="https://www.businessinsider.in/for-indian-startups-2018-has-been-a-year-of-bouncing-back-as-venture-capital-funding-doubles/articleshow/67286540.cms">For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles</a>

Why India’s Unicorn founders backed this barely two-year-old legal tech startup

Technology is emerging as the biggest battlefront for Indian eCommerce and software firms. With leading companies as Infosys and <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> hiring engineers groomed in toptier US companies to acquire the domain edge they need to dominate rivals, the need for efficient employee seems to have peaked up. No wonder they are poaching talent from the competition—even from <keyword id="6355629" type="CITY" weightage="60" keywordseo="Google">Google</keyword>. A news report by the Economic Times has confirmed thatBengaluru-based eCommerce giant Flipkart is hiring another top engineer from Google, highlighting a trend among the country's fast-growing companies to tap into <keyword id="6357722" type="COMPANY" weightage="60" keywordseo="silicon-valley">Silicon Valley</keyword> for talent to bolster their technology fronts. 
 Sources have informed the financial daily that Peeyush Ranjan, a senior engineering director at Google, will join Flipkart's commerce division led by <keyword id="705865" type="PERSON" weightage="80" keywordseo="Mukesh-Bansal">Mukesh Bansal</keyword> in a key role. 
 This is nothing new, since the company had hired another Google <keyword id="2796851" type="UNKNOWN" weightage="60" keywordseo="engineering-leader">engineering leader</keyword>, <keyword id="278552" type="PERSON" weightage="60" keywordseo="Punit-Soni">Punit Soni</keyword> as a <keyword id="2796852" type="UNKNOWN" weightage="80" keywordseo="chief-product-officer-in-the-same-division">chief product officer in the same division</keyword> last month. Soni will join Flipkart this month and Ranjan likely in May. As per the news report, Mukesh along with Flipkart co-founder <keyword id="225032" type="PERSON" weightage="80" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> had met around three-dozen potential hires in the Valley last month. 
 
(Image: India Times)

Flipkart goes shopping in Google!

Indian e-commerce giant <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> has decided to revamp its tech leadership team once again, and has hired Micromax CTO and former Amazon exececutive <keyword id="70775" type="PERSON" weightage="100" keywordseo="Ashish-Agrawal">Ashish Agrawal</keyword> as its senior SVP of engineering. 
 Agrawal will be assuming his role from this month, as the engineering head of its consumer shopping experience and would be reporting to Flipkart CEO <keyword id="6364080" type="PERSON" weightage="100" keywordseo="Binny-Bansal">Binny Bansal</keyword>. 
 
Agrawal, who was leading Micromax's tech initiatives and formulating its software services, was also the technology &amp; development head for Amazon's payment service Amazon Payments for about five years. He was also actively involved in the development for Amazon Payments solutions, which was focused on monetization of Digital Goods and Media. At Amazon, he also led the development of the m-commerce apps for about 2.5 years, leading the development &amp; launch of its e-Commerce web services. 
 
Other changes to Flipkart's tech leadership team include engineering head Peeyush Ranjan moving on to the role of group CTO and engineering SVP Hari Vasudev moving to the tech function for its critical marketplace and e-kart businesses. 
 
These changes have come after Flipkart witnessed seven of its top executives quitting last year, including chief product officer Punit Soni, commerce platform head Mukesh Bansal, chief business officer Ankit Nagori, CTO Amod Malviya, and Chief People Officer Mekin Maheshwari. 
 
<a href="http://www.teleanalysis.com/wp-content/uploads/2015/02/Ashish-Agrawal-CTO-Micromax.jpg">Image source</a>

Flipkart revamping its tech leadership team; hires Micromax tech honcho Ashish Agrawal

Indian <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce&amp;sortorder=effectivedate">e-commerce</a> has been a playground of contradictions, with a bundle of contrasting market data and a dash of controversial media reports. Each company has fuelled the confusion with data on traffic, number of users and GMV. 
 
Business Insider lists the 5 things that went wrong with <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a>: 
 
Gross Market Value (GMV) and Discounting Deep discounts have been the biggest attraction of Indian e-retailers over the last few years, with the focus solely being on growth. Every online retailer has spent heavily to fund discounts to win customers. In the year that ended March 2015, the cumulative loss of <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="541988" type="COMPANY" weightage="60" keywordseo="SnapDeal">Snapdeal</keyword> and Amazon India stood at Rs. 5,000 crores with <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> posting a loss of Rs. 2000 crores and Snapdeal reporting a loss of Rs 1,328 crores. 
 
“It was pure greed. Everybody wanted a bigger piece of the market share. The idea was that the winner will take it all”, <a href="http://www.businessinsider.in/searchresult.cms?query=Sanjay+Sethi&amp;sortorder=effectivedate">Sanjay Sethi</a>, co-founder, <a href="http://www.businessinsider.in/searchresult.cms?query=ShopClues&amp;sortorder=effectivedate">ShopClues</a> says. 
 
This cash burn also held up GMV figures, which was considered the single most important metric for growth. Take that away, the valuation falls, and ‘growth’ suddenly seems stagnant. However, when you have deep pockets and big stakes, you’d want to be a whale. Problem is, when do you stop? 
 
“It’s not the company’s choice. If somebody else walks in, and you take it (the discount) off, you lose market share”, <a href="http://www.businessinsider.in/searchresult.cms?query=Vijay+Shekhar+Sharma&amp;sortorder=effectivedate">Vijay Shekhar Sharma</a>, founder-CEO, <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm&amp;sortorder=effectivedate">Paytm</a> says. 
 In April this year, the government allowed 100% <keyword id="44528" type="ORGANIZATION" weightage="60" keywordseo="FDI">FDI</keyword> in <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce&amp;sortorder=effectivedate">e-commerce</a>. However, the most disturbing feature in the policy was the bar on discounting. This has forced every player to re-consider their business models. 
 
As a senior <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> official requesting anonymity puts it, “Binny’s (Bansal) going deep into the commerce side, looking at every category and asking the right questions. You can be profitable at a gross level, but certain categories might still lose money. He’s focusing on how to sell better on Flipkart.” 
 
High Cost Machine 
While the initial race to shoot up GMV and touch a billion dollar valuation has receded, every player is left with a high-cost machinery, with soaring operational costs. 
 
Earlier this week, <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> co-founder and Executive Chairman <a href="http://www.businessinsider.in/searchresult.cms?query=Sachin+Bansal&amp;sortorder=effectivedate">Sachin Bansal</a> hinted at a tough financial climate. He maintained almost every Internet company around the world goes through it, and they’ll try and raise as much capital possible, but on their own terms. 
 
However, <a href="http://www.businessinsider.in/searchresult.cms?query=ShopClues&amp;sortorder=effectivedate">ShopClues</a> co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=Sanjay+Sethi&amp;sortorder=effectivedate">Sanjay Sethi</a> thinks the slack performance of the segment-leaders is a factor to their current woes. “Investors are rethinking about businesses that haven’t shown a clear path to profitability. There’s clearly a slowdown, but it’s not a long term thing”, Sethi says. 
 While there have been reports of the Snapdeal-Flipkart duo struggling to raise money at their current valuation since June 2015, the <keyword id="6357120" type="UNKNOWN" weightage="60" keywordseo="PayTM">Paytm</keyword> founder thinks most companies can live with their current cash burn rates. 
 
“I don’t know a company that cannot sustain for the next two years. Also, specific companies may have their own concerns and issues, but people are putting in money”, he says. 
 
Losing Focus 
In a market as fragmented as India’s, no one brand has dominated categories like apparel and grooming. Too much inventory stocked for too long eats away profit margins. Some say the country's FDI policy forced these companies to potray themselves as marketplaces, while they were handline everything from warehousing to logistics. 
 
Retailing in itself has never made money, even for <a href="http://www.businessinsider.in/searchresult.cms?query=Walmart&amp;sortorder=effectivedate">Walmart</a> at this scale. It’s always a 4-5% margin. That way, the marketplace model is profitable even in Amazon’s balance sheets. The <a href="http://www.businessinsider.in/searchresult.cms?query=ShopClues&amp;sortorder=effectivedate">ShopClues</a> founder thinks when you’re on a hybrid model; you compete against your sellers, and that hampers growth. 
 
“If you decide to take fashion as a marketplace model because there are too many sellers, and a certain brand is making more money, there’s the greed to have an inventory in the interest of better margins. That way you build distrust among sellers”, Sethi says. 
 
Combine huge stockpiles in warehouses, heavy discounting and 4-5% gross margins in some categories, and you have a business that makes zero sense at unit commerce level. You can either sell too many brands on a pure marketplace model, or select brands on an inventory model. Fire and water don't mix. 
 
The Paytm founder agrees. “It’s better to leave merchandising and fashion trends to retailers. When I see these companies building private labels, it makes me uncomfortable personally.” 
 
Some steps proved costly 
The idea of going app-only proved to be a big distraction for Flipkart and Myntra. Flipkart’s <a href="http://www.businessinsider.in/searchresult.cms?query=Big+Billion+Day+sale&amp;sortorder=effectivedate">Big Billion Day sale</a> went app only last October, and reversed its decision for its Republic Day sale this January. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Peeyush+Ranjan&amp;sortorder=effectivedate">Peeyush Ranjan</a>, head of engineering at Flipkart agrees not many people install the app. "Websites push users to install the app. But only 4% of the people actually install the app", he says. 
 
While the company’s brave attempt to try something new must be lauded, it made little business sense. “Companies are fighting over 2-3% market share. It made no sense to leave 10% of your users and go app-only. That’s somebody not using the retail mindset”, Sethi says. 
 
Flipkart still maintains it was always mobile-first, and never app-only for them, and it all got misconstrued. Amar Nagaram, VP, Mobile Engineering, Flipkart says, “We never quite stopped our efforts for mobile web. We actually pushed browser companies to offer a better experience.” 
 
In a country with low credit card penetration, both Snapdeal and Flipkart ventured into mobile payments a bit too late. Flipkart now has its WSR Wallet and Snapdeal made way for the FreeCharge Wallet, but Paytm's Wallet services were way ahead. The Softbank-led company now allows its users to book Uber rides globally, and will soon let them shop on investor Alibaba's B2C portal. 
 
Lure of the Market Everybody agrees the fundamentals of <keyword id="35621" type="UNKNOWN" weightage="60" keywordseo="e-commerce">e-commerce</keyword> in India are very strong. Every other report brings on huge growth and market size figures. True, <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce&amp;sortorder=effectivedate">e-commerce</a> currently only accounts for 2% of the total market, and there is enough room for growth. 
 
The recent report by CIII and Deloitte India peg India’s business to consumer (B2C) segment will grow more than seven times to $101.9 billion and the number of online shoppers will grow over 10 times to 220 million in 2020. 
 
However, most data thrown around by e-commerce companies has been one big hogwash. App installs don’t count for traffic, number of active users doesn’t count for real transactions, and high GMV doesn’t count for profits. That’s why Flipkart’s 50 million app installs must be taken with a pinch of salt. 
 
“If only Snapdeal and Flipkart tone down their expectations, they could build fabulous businesses”, Retail Consultancy firm Technopak MD Arvind Singhal says. 
 
P.S: Snapdeal refused to comment, despite several requests.

5 things that went wrong with Flipkart and Snapdeal

Domestic eCommerce company <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> has appointed <keyword id="6357722" type="COMPANY" weightage="60" keywordseo="silicon-valley">Silicon Valley</keyword> veteran <keyword id="2894306" type="UNKNOWN" weightage="80" keywordseo="Ravi-Garikipati">Ravi Garikipati</keyword> for a newly-created role of <keyword id="2896625" type="UNKNOWN" weightage="80" keywordseo="Entrepreneur-In-Residence">Entrepreneur in Residence</keyword> to help the India's most valuable Internet company to grow its nascent online advertising business, according to an ET report. Here we will tell you what does Entrepreneur in Residence means. It is a position in a <keyword id="6357097" type="COMPANY" weightage="80" keywordseo="venture-capital">venture capital</keyword> firm which is temporary and informal. The position is created when an organizations brings in an entrepreneur, who is in the process of starting or expanding a new company. "This is the first time such a role is being created and the possibilities that open up for the future are immense," <keyword id="225032" type="PERSON" weightage="80" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>, the group CEO of Flipkart, said in a statement announcing the appointment on Thursday. 

	Garikipati, who comes to Flipkart after stints as head of Silicon Valley-based [24]7 Innovation Labs and software maker Vendio, has to work closely with cofounders Sachin Bansal and Binny Bansal as well as the company's head of commerce Mukesh Bansal.
 

	The IT industry veteran's first assignment will be to grow the online advertising division, a new line of business that Flipkart is chasing since it re-organised its operations earlier this year. 
 

	Mukesh, 39, is now the head of commerce while Sachin has moved away from daily operations to lead new initiatives including advertisements. 
 

	Binny who co-founded the Bengaluru-based company along with Sachin, has oversight of supply chain and logistics. 
 Experts are of the view that Flipkart has little choice but to create new lines of business, a strategy that has worked well for both <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword> and <keyword id="302749" type="COMPANY" weightage="80" keywordseo="Alibaba">Alibaba</keyword>, as the basic business of online retail is not a profitable one. "They need people who can activate (new ideas) and drive them forward. (It) makes sense for them to find someone to run this internally," said an investor, who did not wish to be identified. 

	According to Guhesh Ramanathan, co-founder of seed incubator Excubator, "On one hand it has the M&amp;A team scouting for startups. On the other hand, I think Flipkart is trying to put together an intrapreneurship piece in the company, to motivate smaller teams to do something innovative." 
 

	In the last few months, Flipkart has made several strategic hirings, including that of Punit Soni, a former head of products at Google, and Saikiran Krishnamurthy, earlier a director at consulting firm McKinsey, who is now the chief operating officer of Flipkart's commerce division. Also, Peeyush Ranjan, from Google, is now a senior vice-president at Flipkart. 

	 
	(Image: Indiatimes)

Flipkart now has an 'Entrepreneur in Residence'!

Newly appointed Chief Product Officer of <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="278552" type="PERSON" weightage="60" keywordseo="Punit-Soni">Punit Soni</keyword>, is on a mission. He wants India’s largest e-Commerce player to become global tech powerhouse and also a company to have the best talent from across the globe in coming years. 
 
Soni, who launched various products for Google during his eight-year stint and helped Motorola Mobility turnaround, is back in India after spending his entire professional career in the US and is on the job. 
 
While talking to Times of India, Soni said he is coming to the future with a focus on enhancing Flipkart’s mobile Commerce experience, adding consumers should expect changes on mobile front soon. 
 For this, he is scanning the world for talent. 
 
"We are focusing on getting amazing talent which is global in nature. Now we are at an inflection point and the world is looking at India as the big opportunity. Just like younger start-ups look up to Flipkart as a role model, now I want Flipkart to do the next thing — bring large number of people from across the globe to work here and live happily, both professionally and personally. This should then seep into the rest of the ecosystem. I think it will happen, it's just about us evolving ourselves into a more thoughtful international employer than an Indian employer," Soni told TOI. 
 
Soni along with another Google veteran Peeyush Ranjan would tap into talent from Silicon Valley’s tech giants like Google. 
 
Flipkart is now focussing on mobile, as outlined by co-owner Sachin Bansal, and seeks to downsize its legacy as a desktop-driven player. 
 
"The conversation is what truly a true mobile commerce experience is— no one has really cracked it yet," Soni said. "Today any mobile app is basically a website condensed into a small little phone with some ability to tap and swipe. Now compare that to the idea of shopping. I'm trying to build what is a true mobile commerce experience. If I can build that up in any geography, it is here in India," he told the news daily. 
 
The e-Commerce company also sees mobile start-ups as a huge challenge. 
 
“We are watchful of these younger start-ups. It is a challenge. I understand that disruption most likely comes from a smaller start-up. Their ability to do things is phenomenal and that is what makes them the prime disruptor of large companies,” Soni added. 
 
Flipkart and fashion online retailer Myntra, which it acquired last year, have been pushing their mobile applications as smartphone penetration in India skyrockets. TOI reported that Myntra planned to its website with Flipkart following the same as the online retailers morph into pure-play mobile outfits.

You Searched For "Peeyush Bansal" and got 8 results

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