Gurgaon based e-tailer of educational and school supplies, AllSchoolStuff.com has been shut down, as per a message displayed on the site. The company which had scaled down operations over the last few months, and had been trying to raise capital, has finally had to close its operations.
Launched in September 2011, this retail venture was founded by Manoj Chandra, a senior retail professional, erstwhile VP – Marketing, Bata India, and Ankur Dinesh Garg, an IIT graduate with over a decade of experience in ecommerce technologies.
The portal was the first in India to focus on redefining the educational supplies market by providing a one stop shop to parents of school going kids and catering to the needs of the K-12 school segment. The company had shown fast GMV growth and had developed a horizontal catalogue of products catering to school going kids. Also, it received a funding of USD 2 million in two parts viz. December 2011 and September 2012.
Apart from AllSchoolStuff, other major ecommerce players who have shut down due to lack of funds, are IndiaPlaza, SeventyMM, Hushbabies, KoolKart, 21diamonds, Rock.in, Hutk.
According to a recent CRISIL report, the online retail market in India is expected to become an INR 50, 000 crore industry. Also, the online school and student supplies market is currently valued at 500 to 1000 crores. But, looking at the way startups are getting their portals shut down, does this growth really makes sense? Do we assume that in future, this will be the playing field of only a few biggies?
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