Electronic commerce (or e-commerce) encompasses all business conducted by means of computer networks. Advances in telecommunications and computer technologies in recent years have made computer networks an integral part of the economic infrastructure. More and more companies are facilitating transactions over web. There has been tremendous competition to target each and every computer owner who is connected to the Web.People can buy goods with a click of mouse button without moving out of their house or office. Similarly online services such as banking, ticketing (including airlines, bus, railways), bill payments, hotel booking etc.have been of tremendous benefit for the customers.Online businesses like financial services, travel, entertainment, and groceries are all likely to grow .
Last 10 Years Development Report of E-COMMERCE
- 2002: eBay acquires PayPal for $1.5 billion.Niche retail companies Wayfair and NetShops are founded with the concept of selling products through several targeted domains, rather than a central portal.
- 2003: Bossgoo B2B(Business to Business) marketplace established in China.
- 2004: DHgate.com, China's first online b2b transaction platform, is established, forcing other b2b (Business to Business) sites to move away from the "yellow pages" model.
- 2007: Business.com acquired by R.H. Donnelley for $345 million.
- 2009: Zappos.com acquired by Amazon.com for $928 million. Retail Convergence, operator of private sale website RueLaLa.com, acquired by GSI Commerce for $180 million, plus up to $170 million in earn-out payments based on performance through 2012.
- 2010: Groupon reportedly rejects a $6 billion offer from Google. Instead, the group buying websites went ahead with an IPO on 4 November 2011. It was the largest IPO since Google.
- 2011: Quidsi.com, parent company of Diapers.com, acquired by Amazon.com for $500 million in cash plus $45 million in debt and other obligations. GSI Commerce, a company specializing in creating, developing and running online shopping sites for brick and mortar businesses, acquired by eBay for $2.4 billion.
- 2013: US eCommerce and Online Retail holiday sales reach $46.5 billion, up 10 percent.
- 2014: Overstock.com processes over $1 million in Bitcoin sales. India’s e-commerce industry is estimated to have grown more than 30% from 2012 to $12.6 billion in 2013. US eCommerce and Online Retail sales projected to reach $294 billion, an increase of 12 percent over 2013 and 9% of all retail sales. Alibaba Group has the largestInitial public offering ever, worth $25 billion.
- 2015:Research and consulting firm Spire had predicted that within next 4-5 years, ecommerce industry is going to consolidate, with only 2-3 players surviving at the end. According to eTailing India research, Indian Ecommerce Market will reach $90 Billion by 2019.
With close to 250 million internet users, Indian e-commerce industry has been a land of opportunities for institutional investors. Besides Tiger Global, Sequoia, and Naspers among others, this year Indian e-commerce segment also drew the attention of new investors like DST Global, Soft Bank, BlackRock, and Sofina etc.
Over the past 10 months, Indian e-commerce companies (only selling physical goods) have secured over $3.9 billion investment from VC/PE and internal funding (including Amazon).
Source: Internet
No comments:
Post a Comment