Zomato Set To Become India’s Largest Ecommerce Player, Claims Info Edge Founder
The company's strategic expansion into grocery services and other areas positions it as a comprehensive platform says Sanjeev Bikhchandani
In a bold assertion, Sanjeev Bikhchandani, Founder, Info Edge has claimed that Zomato is poised to become the largest ecommerce company in India. Speaking to an engaged audience of entrepreneurs and industry experts, Bikhchandani emphasised the food delivery giant’s potential to surpass established players like Flipkart, citing its current valuation of approximately USD 30 billion.
He claimed, “Zomato has a credible shot at surpassing competitors like Flipkart,” highlighting the company's strategic expansion into grocery services and other areas that position it as a comprehensive platform in a rapidly evolving market.
The Reality Of Startup Survival
The panel discussion comprised turns as speakers shared insights on the harsh realities facing Indian startups. With studies revealing that less than 20 per cent of startups survive beyond five years, and only 8 per cent make it past a decade, the need for resilience was a key theme. Deep Kalra, Founder and Chairman, MakeMyTrip (MMT) and Governing Council Member– TiE Delhi-NCR and Sanjeev Bikhchandani, reiterated a powerful mantra throughout the session, ‘Don’t die’. This phrase captured how important it is to survive in the tough world of startups, where challenges are everywhere and being flexible is essential.
Emphasising perseverance, the speakers recounted personal experiences of discouragement when competitors succeeded. They urged aspiring entrepreneurs not to give up too soon, reminding them that entrepreneurship often requires deferred gratification and a commitment to long-term goals. Kalra advised, “Keep your ear to the ground and be ready to pivot, as the market will inevitably change.”
Thriving In A Digital Ecosystem
The panellists collectively acknowledged the dramatic transformation of the startup landscape since their early days. With over 800 million internet users in India, the digital ecosystem is thriving, presenting numerous opportunities for innovation. Bikhchandani stated, “Well, it is innovation all around,” pointing to the wealth of potential in the current market.
Honest feedback and collaboration were also highlighted as vital components of entrepreneurial success. Bikhchandani emphasised the value of having advisors who provide constructive criticism, stating, “It’s this balance of objectivity and instinct that keeps you grounded.” Kalra echoed this sentiment, urging entrepreneurs to surround themselves with people who are not merely “yes-men,” but rather those who challenge and critique ideas.
A Personal Journey Of Decision-making
In a personal incident, Bikhchandani recounted a pivotal moment in his career when he turned down a USD 2 million investment. He explained the sleepless nights that followed as he grappled with the decision, ultimately deciding that his company was not ready for such a commitment. “I went back home and didn’t sleep for two days. I tossed and turned, and said, what do I do?” he recalled, sharing this journey to motivate fellow entrepreneurs.
However, replying to chair Rajan Anandan, Managing Director, India and SEA, PeakXV Partners & Surge, Kalra of MMT termed the years from 2001 to 2003, as a ‘valley of death,’ with his team shrinking from 42 to 24 and the founder taking no salary for 18 months. He received a USD 7.5 million buyout offer but ultimately declined, realising that accepting would end their entrepreneurial journey—a decision he later appreciated.
Inspiring Hope And Resilience
As the discussion wrapped up, the panellists left the audience with a renewed sense of hope and a clear understanding of the importance of resilience, adaptability, and the ability to embrace constructive criticism in the ever-changing landscape of entrepreneurship. With the exciting potential for growth within India’s vibrant e-commerce sector, Zomato’s ambitious trajectory reflects not only its evolution but also the broader opportunities that lie ahead for startups in the country.
