Seventymm.com cease taking orders, seems like a shutdown

Ecommerce website, Seventymm seems to have close to shut its operations as the website has stopped taking orders.

In January this year the company has lost its Chief Executive Officer Mudit Khosla who joined Tradus, and with this Bhavna Agarwal was appointed as the new CEO, previously she was the COO in the company.

SeventyMM failed to raise another round of funding and was running short of the operational capital,  which can be the main reason for its shutdown. We tried reaching Bhawna but however she did not responded to calls.

While checking out its presence on social media we found that it was not even active Facebook and Twitter from past few days. There has been a large number of complaints against the company’s ordering and the delivery processes on social media.

Founded in 2006 by Raghav Kher, Seventymm was started as an online DVD rental company and later on was transformed into a full-fledged ecommerce portal. In August 2008, it had raised $12 million in the third round of funding led by NEA Indo US Ventures. In total it had raised capital of about $22 million so far, while Draper Fisher Jurvetson with ePlanet Ventures had invested $2 million in 2005, the rest was raised from Matrix Partners in 2006.

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  • saurabh nandwani

    It
    was worst experience with this e commerce venture. Its completely
    unprofessional, after making more then hundreds of call since two months
    there’s no proper reply from anyone. most of the numbers are switched
    off or not responding to any calls. Will vendors receive their payment
    or its bad debt?

  • http://www.magneticdesigns.in sanjeev sahani

    IT IS UN FORTUNATE THAT COMPANIES ARE BEING MANAGED BY UNPROFESSIONAL PERSONALS.
    VENDORS ARE NOT BEING PAID ITS OVER FOUR MONTH WE ARE FOLLOWING UP BUT THERE IS NO RESPONSE. EMPLOYERS HAVE SWITCHED OFF THE CELL PHONES – WHAT DO THEY WANT TO PROVE?
    THIS IS LIKE URBAN TOUCH -

    • http://www.seventymm.com Paritosh Bindra

      Dear Sanjeev
      You can always discuss your payment issues with me at 9999275080 or alternatively let me know your mobile number and I will call u back and update you on the payment status

  • Meg

    Did the company lost the CEO to tradus or was asked to step down as he was not able to handle the operations. As this article clearly reflects operations leading to downfall…..

  • siraj

    What will happen to all the money invested by the Investors , what is the benefit did the investors get out of investing in the firms like this , how do more people invest in online stores, The result of all online companies are 0 at the end ,

    Where is all the investment going in online companies , it is so difficult to get investors for traditional business , but how is that investors are voluntarily coming forward to fund online companies inspite of the knowledge that it is not a long term game , but it can shut down any time ?? .,

    if any of you have answers to these questions , Please answer ? !!!

    SIRAJ

    • sumit

      there is no answer to this. Investor has not lost any money. They are smart and thatz why they are investor.

  • http://www.Clifton.in Senthil Venkatrajan

    Site is still opening , what will happen ?? If I place an order

  • Achint Anand

    Completely agree Mahesh, God save tradus now that he has brought seventymm to this stage..everyone knows about his so-called credentials…it is time investors double check the feedback about such people before giving away companies to him to play!!

  • Mahesh Gowda

    Company didn’t loose its CEO Mudit; He just ran from the sinking ship like a rat.
    God save Tradus