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Indian Cos that Made Headlines in 2011
By siliconindia
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Tuesday, 27 December 2011, 00:53 IST
2. Reliance Industries:
We know them as the warring brothers. But little did we know that the two brothers would come together in 2011 to fix the issues that have crippled their telecom business. The siblings decided to put an end to their rivalry and create a harmonious environment with co-operation and collaboration. They made headlines, when Mukesh Ambani hatched a plan to combine his group with his younger brother Anil's telecom company to take another shot at the telecom sector for 4G services. "As leading telecom infrastructure and content service providers, we look forward to offering our services to RIL and other BWA players, even while we compete for customers in the market place through our choice of different technologies," RCom said in a statement.
3. FlipKart:
Known as the 'Amazon of India', FlipKart made heads turn when they received $150 million funding from General Atlantic Partners. With the funding, the company's became the India's first billion dollar Internet startup increasing the company valuation to $1 billion. Sachin and Binny Bansal, coincidentally with the same surnames were the two who found Flipkart in 2007. Initially known as the online bookstore, the company did r e ally well. Soon it made foray into general e-commerce products. The company is on its wave of success and expects a 10 fold rise in its revenue in the coming year. In an e-mail response to VC Circle, Pat Hedley, managing director (Corporate Affairs), General Atlantic said, "It is our company policy not to comment on investment opportunities that we may or may not be considering." In an email response, Sachin Bansal, CEO, Flipkart said, "Any discussion about funding is speculative. Being a privately held company, we would not like to comment on this."
