Mumbai based, online e-tailer for Indian & international branded apparels, Rock.in seems to have seized its operation, as the website is no more available on www.rock.in. We tried reaching Aashish Puri, Co-founder, Rock.in to know the exact scenario, but was not able to get any response on the matter.
As per Alexa, the website has also witnessed fall in traffic in past few months, and there has been no update on Facebook and Twitter page of Rock.in from Mid-April, denoting a silent exit for the online retailer. As per previous rumours the company was also looking for a possible merger with Fashionara.com, though both Aashish and Arun Sirdeshmukh had denied any such rumours at that time.
The company had started seizing its operations last month and had shut its office in Delhi and Bangalore around 10 months back. As per our sources the main reason for the shutdown was that the owners were not clear on how to take the business further, as no long term plan was prepared while starting the business.
Rock.in was launched in May 2012 by Aashish Puri and Suraj Sharma. Within few months of it’s launch, Rock.in announced its Series A funding which it raised in February 2012 from Partech International, venture capital firm based in France & Silicon Valley and 3 angels which are retail families of Europe. The company was looking to raise USD 5 million in series B within few months, however, being not able to raise funds could be one of the main reason for its shut.
Interesting thing to note is that, Suraj Sharma who is one of the founder, had completely removed his credentials of being part of Rock.in from his Linkedin profile, where now he mentions himself only as the Director of Emarket.com. Denoting a conflict kind of a situation in the company. Though we tried contacting Suraj, but couldn’t reach him too.
Rock.in adds up on to the list of successfully shutting down ecommerce business in india. Other players that have recently shut down includes Seventymm, Koolkart.com, Timtara and several more falling shortly.
The shutdowns happening clearly represent the change in the perception of VC’s from Gold rush to a marathon approach and not risking on to more ecommerce startups. Still other players who were able to attract survival/growth funding in the sector includes Healthkart, CaratLane, Shopclues, Yebhi, Snapdeal, Zovi, Babyoye.