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India's e-commerce startup losses grew 293% to Rs 7,884 crore in FY15

Higher advertising spends to grab customer eyeballs take a toll on startups across segments

Alnoor Peermohamed  |  Bengaluru 

The losses of the top 22 online start-ups in the country soared by 293 per cent at Rs 7,884 crore for a combined revenue of Rs 16,199 crore for the financial year ended March 2015. Bloated spending on advertisement to attract customers in an increasingly competitive atmosphere led to the whopping hike in losses. This year, losses could mount further as these startups continued to spend money on advertisements and discounts to lure customers. According to a study by brokerage Kotak Institutional Securities, combined revenue grew by 191 per cent, with online market places such as ...

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First Published: Thu, February 11 2016. 00:45 IST
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