Indiaplaza, one of the early ecommerce players in India has raised $5mn from NEA-IUV. Indiaplaza is backed by Indigo Monsoon Group, an investment firm focused on early stage deals.
Indiaplaza, in spite of being one of the early movers in ecommerce space witnessed the market share snatched by Flipkarts of the world and one can just hope that the site uses the funding to compete aggressively in the already crowded ecommerce space.
A look at the current site will tell you how web 1.0 it is; and surely has a long way to go in order to rebuild the brand.
And now that Amazon is entering India, expect consolidation in ecommerce space, which is already subjected to thin margin and high customer acquisition cost. How do you think Indiaplaza should take Flipkart(s ) of the world?