The article goes on to highlight some of the challenges faced by e-commerce companies and they read very much to the early 2000s and Amazon's troubles. What I am surprised by is that Infibeam has not done much analyses of the operating differences in a market that's competing with 'free' on-demand delivery of groceries and other items. IOW, consumables, where retailers do end up making money and peddling loyalty, is a really hard vertical to get into in India.
Either ways, fascinating read.
I am scheduling this ahead of time, so by the time you read this, we might know how day 1 of Infibeam IPO has gone.