Snapdeal / India
Online sales still make up a small portion of overall retail spending — one estimate pegs it at $10 billion, a tiny fraction of India’s $500 billion retail market — but they are growing fast. FlipKart says it had revenue of 500 million rupees ($11 million) in its last fiscal year, and is now clocking sales of about 10 million rupees a day. SnapDeal.com, a coupon and deals site similar to Groupon, expects sales of 1.5 billion rupees this year, up from almost nothing the year before. So the biggest thing to happen in India, that rapid growth has drawn the attention of venture capitalists who poured $183 million into 20 e-commerce firms in the last 12 months, up from $61 million for 13 firms in the previous 12 months, according to Venture Intelligence, a research firm. Keep goin Snapdeal.
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