With the number of internet options increasing in India, the country has also witnessed the increasing number of internet users. This has lead to one of the most attractive way of interactions between the business enterprises and customers in the form of e-commerce companies.
Today there are more than 400 e-commerce companies operating in India and each year the number is still increasing. But in these bunch of e-commerce websites, there are also a few that got closed in the last few years as they could not match up with the trend. The reasons for the closure of these e-commerce websites have remained different and also the number is quite a few in comparison to the list that is successfully operating till date.
Though there can be a few numbers of such e-commerce websites that have got closed in India since last few years, here is a list of 4 such companies that had some big reasons for their end of operations in the country.
Koolkart was found by Anupam Agarwal and Suneil Chawla. The e-commerce website concentrated on a number of categories such as Apparel, Jewellery and even Home Décor. The website was a hit as it was able to reach out almost more than 300 unique customers in just about 2 months time. The website was successful not only because its products but also because it had a unique price comparison option. But the website had to close down as Anupam Agarwal left the operations mid way to be the product manager of Walmart Labs. Also after sometime, it was found that Suneil Chawla was also into another company Social-Beat leaving Koolkart to close down.
This e-commerce company was started by the three founders Ram Bhamidi, Asha Shridhar and Sankar Bora in the year 2012. The company sold apparels in the designer section and also some of the designer products from their partner brand Felicia that was from Italy. Initially it was a good start for the website and it also was able to get a huge number of unique customers at its site. But later on suddenly the website closed and now when you visit the website a message welcomes you by saying that the website is temporary closed as they are focusing on their brand Felicia.
The e-commerce website Rock In was found by Aashish Puri and Suraj Sharma in the year 2012. The Mumbai based company was a dealer of both Indian as well as International brands. The company raised series a funding and was also set to raise series B funding but somehow failed. But after this suddenly the CEO of the company, Suraj Sharma removed the credential of Rock In from LinkedIn and hence the company closed down by the year of 2013.
This was one of the most disastrous events that ever happened in the history of Indian e-commerce business. The e-commerce company Timtara was found by Arindam Bose and Harish Ahluwalia in the year 2010 and was said to sell products such as healthcare, electronic appliances, IT and others. The problem started when many buyers started complaining about the site that they did not receive their products after buying it from the e-commerce site. Also some of the dealers of the site complaint about not getting payment even when they have delivered the products asked for. Soon, a Timtara Fraud page was created on Facebook where harassed buyers lodged their complaints and also police came into the picture. The company was closed down when both the founders Harish Ahluwalia and Arindam Bose were arrested in the tear 2013.