IDG bets on potential e-commerce consolidator
Survival of the fittest is a concept that applies to almost every ambit and rings particularly true in the field of Indian e-commerce of late. Last week Flipkart.com, the country’s largest online retailer, backed by Tiger Global Management and Accel Partners, acquired its competitor site Letsbuy.com in the latest in a series of consolidation plays within the sector.
Now IDG Ventures India and SAIF Partners have led a $14 million Series B round of funding for Brainbees Solutions, which owns the FirstCry.com and GoodLife.com websites. Industry participants expect...
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