modes of e commerce

May 29th, 2015
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K. Vaitheeswaran, the CEO of Indiaplaza, remembers the moment vividly. Many venture funds of that vintage perished. Entrepreneurs were worse off. “There were almost 1,000 e-commerce businesses in India at that time. All of them closed down,” says Vaitheeswaran. In the space of six months, ‘dotcom’ had gone from meaning ‘hip, cool; inheritors’ to ‘naïve, paper tigers; lambs to the slaughter’. Hell had frozen over. But so much chaos, so much life had been unleashed.

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obody saw it coming. Nobody wanted to. It was, after all, the summer of 1999. The spirit of the times was heady and a thousand entrepreneurs had bloomed. Fabmart and Firstandsecond.com wanted to be the Amazon the giant book store of India. Rediff was selling knick-knacks on its e-commerce channel. Sify too had joined the bandwagon. Apnaloan was promising to sell loans online. Shaadi.com wanted to find your dream other. And then on April 4, 2000, Nasdaq crashed. K. Vaitheeswaran, the CEO of Indiaplaza, remembers the moment vividly. Many venture funds of that vintage perished. Entrepreneurs were worse off. There were almost 1,000 e-commerce businesses in India at that time. All of them closed down, says Vaitheeswaran. In the space of six months, dotcom had gone from meaning hip, cool; inheritors to nave, paper tigers; lambs to the slaughter. Hell had frozen over. But so much chaos, so much life had been unleashed. Could something have survived spirit, derring-do the carnage?Kapadvanj, a small settlement of 50,000 people, is an hours drive from Ahmedabad. It hasnt changed much in the last 10 years. Yes, there are a few more cars and thanks to DTH and pay-per-view, the latest movies get screened much faster, but life moves at an easy pace. Of course, the Internet connection is much more reliable. And Rinkal Shah is all grown up now. This 26-year-old Web designers house in Triveni Park has all the things y

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