Bengaluru : India’s top 22 online commerce startups reported a of Rs 7,884 crore (293%) for the year that ended in March 2015 on combined revenue of Rs 16,199 crore. Losses soared due to bloated advertising spends as startups rushed to grab customer eyeballs in the face of growing competition.
Combined revenue growth was up by 191% for the period, with marketplaces Flipkart, Snapdeal and Amazon India leading growth with a revenue growth of 475%.;a study by brokerage Kotak Institutional Securities has revealed.
@Agency news.
