FutureBazaar.com Raises Funding From Sherpalo
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FutureBazaar.com which is the Future Group’s e-commerce venture has raised funding for which it has given 15% of equity to Sherpalo Ventures and KPCB (Kliener Perkins) which is headed by Ram Shriram. As this report suggests that the Future Group was looking at raising $20-30 Million For Futurebazaar.com and diluting 10-15 percent stake. So the total funding could be in that range.
We had covered the launch of future bazaar and pointed out that it was as simplistic as it could get. Early last year their CEO Sankarson Banerjee was quoted as saying “Currently, about 40,000 people visit the portal daily and 1% of them place orders for products.”. At that time futurebazaar was targetting 300 crore revenue in the first year and was looking at increasing its products portfolio from 5000 to 1 million. Im not sure if they have achieved those numbers but if the above math about the funding is true then futurebazaar has been valued at close to 100- 150 million $ which is 400-600 crores!
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Bonjour,
It has been a pleasure and a torture at the same time hearing news about futurebazaar.com
Its a please because I can see technology making people’s life easy and Torturous because I have no clue how to reach the Management of futurebazaar.com
I am working on a project from last 1yr which can sell Garments online. Trust me, it is the ONLY way to sell garments online. I will brief you a bit on this -
Why Garments don’t sell online?
- Touch and Feel factor
- Fit & Size Problem
I can solve both these problems and make a customer shop online for his garments without any fear of Fit & Size. I claim that whatever I will deliver to his home will fit him 100%.
A thought to tickle your brain - What if I have measurement of your whole body, on which I will write an algorithm which can tell you What size of Which brand will Fit you BEST.
Please do write me back of feel free to call me anytime if this brief description creates any interest in you.
Await your call.
Gaurav Chanchal
+91 9999994403