Funds thought they would throw money and customers would come. But India is tough: Abhishek Bansal
Synopsis
Abhishek Bansal, founder of Flipkart-backed logistics company Shadowfax, talks about how the startup ecosystem has changed for the better in the last few months; where the country’s e-commerce user base is headed; why it is important for startups to hire a CFO early on; and more.
Unlike a few months ago, when young entrepreneurs would flaunt fancy growth numbers, everyone now is talking about Ebitda profitability. Issues of corporate governance across companies such as BharatPe, Trell, and Zilingo have brought in the much-needed reality check. At the same time the cycle of frenzied growth and valuation has taken a screeching halt. Has the market matured or is there more to it? In a candid conversation with ET Prime,
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