Presenting India's Top 10 Online Shopping Sites with Market Share

By siliconindia | Friday, 11 March 2016, 06:19 Hrs

BENGALURU: The rise of e-commerce sites in the country has transformed the retail market and has changed the way we look into shopping. E-commerce sites gave us a different kind of shopping experience, something we have never seen before. Earlier, we used to physically browse numerous shops before buying an item, now we’ve become used to browsers for shopping. Online shopping sites have gone from being virtually non-existent to become multi-billion dollar businesses. Top10wala.in has listed India’s top ten online marketplaces based on their market share; here presenting the list.

Flipkart

Flipkart’s journey to become India’s top e-commerce site is probably one of the best startup success stories ever. The company, founded in 2007 by Sachin Bansal and Binny Bansal, both alumni of IIT Delhi, started as an online platform for selling books. Since then, the company has grown in leaps and bounds and is now valued at around US$ 11 billion (7400 crore rupees) with a 33,000 strong workforce. In 2014, the company acquired one of its major competitors, Myntra.com in a deal worth 2000 crore rupees. “The idea itself is not new. The genesis of the thought to set up Flipkart came from the bad quality service provided by competitors. Our business opportunity was to do better than our competition in terms of service. Hence, our main mission was to focus on customer service,” Sachin Bansal told YourStory.com in an interview.

Amazon India

Amazon India has been giving Flipkart a run for its money since its launch in 2013 and is the country’s second most visited shopping site. Amazon dethroned Flipkart as India’s buzziest brand in a survey conducted by afaqs! To make matters even more interesting, Jeff Bezos, Amazon’s founder, has recently announced an investment of US$ 7 billion to bolster their operations in the country. The competition is sure to heat up between these e-commerce giants as they go head to head in a bid to become the country’s top online shopping site.

Snapdeal

Snapdeal, founded in 2010 by Kunal Bahl and Rohit Bansal is one of the fastest growing e-commerce companies in the country at an astonishing rate of 600 percent a year. Snapdeal is now valued at US$ 6.5 billion, making it the third biggest online shopping site and is backed by none other than Mr. Ratan Tata. In August 2015, the company received US $500 million worth investment from a consortium of Alibaba Group, Foxconn and Softbank.

PayTM

PayTM, founded by the enigmatic Vijay Shekhar Sharma, started as an online recharge platform for mobile phones and DTH services. The company later on entered into online shopping arena and now has managed to bring over 250 merchants into its mobile marketplace. PayTM is valued at around US$ 3 billion and is soon expected to start a Mobile Banking service, after receiving the license from RBI.

Jabong

Though Jabong has always been in the shadow of other well known e-commerce sites, it has managed steady growth rates over the years. Jabong is one of the biggest online marketplaces for fashion related shopping in the country with an extensive collection of apparels and wardrobes. The company’s valuation is on the lower side with an estimated US$ 400 million net worth and if rumors are to be believed, it might soon be snapped up by one of the big three.

EBay India

EBay India, the Indian arm of one of the world’s largest online marketplaces has not yet been successful in its attempts to tap the country’s market. The company is one of the first e-commerce sites in the country as it entered India in 2004 by acquiring Bazee.com. eBay has a total valuation of US$ 68 million and has witnessed a growth of 23 percent in terms of revenue last year.

ShopClues

ShopClues is the Indian subsidiary of US based Clues Network, founded by two Indians, Sandeep Agarwal and Sanjay Sethi. ShopClues is taking baby steps but are promising ones nonetheless and it is sure to achieve rapid growth over the coming years. It now has over 42 million visitors and is valued at US$ 1.1 billion dollars.

MakeMyTrip

India’s premier online travel company MakeMyTrip, was founded back in 2000 by Deep Kalra and is only the second Indian company to be listed in NASDAQ. It has an estimated value of US$ 700 million and has recently raised an investment of US$ 180 million from Ctrip, China’s largest online travel company.

AskMeBazaar

Getit Infoservices acquired AskMe from Network18 group in 2013 in order to gain a foothold in the country’s e-commerce market. The company has achieved strong growth over the years and is valued around US$ 500-600 milion.

Goibibo

Goibibo.com, an online travel aggregator was launched by the ibibo group in 2009. Last year, it became the number hospitality provider in terms of hotel booking volumes in India and also the most preferred OTA by hoteliers in the country, according to Business Insider.