The invasion of e-commerce companies in India was no less dramatic, as it grips its hold on 84 billion U.S. dollars. It can drastically ascend to 350 billion U.S. dollars by 2030. K.Vaitheeswaran was the person behind plaguing the world’s most populated market after China. He is also popularly known as the ‘Father of e-commerce in India’ who cofounded Fabmart.com in 1999. All other companies that saw merits in this sector, laid a strong foundation for e-commerce companies in India. This resulted in India ranking 9th globally and is anticipated to surpass the US by 2034 to become the second largest in the world.
Let us dive in and check the top 12 e-commerce companies in India, that made it to the wall of game-changers.
1. Amazon India
- Foundation Year: 1994
- Annual Revenue: Rs 42,260 Crore
- Monthly Visitors: 308.2Million
- Founder: Jeff Bezos
Setting up its roots in India in June 2013, Amazon has drifted around the market ever since. It soon became the top e-commerce company in India as a result of an audience reach of 89 percent, scrabbling up the ladder. Even though it started only as an online bookstore, it later expanded its spectrum from Amazon Prime digital media to clothing fashion and from groceries to automation.
2. Flipkart
- Foundation Year: 2007
- Annual Revenue: Rs 51,176 Crore
- Monthly Visitors: 242.62 Million
- Founder: Sachin and Binny Bansal
Flipkart was founded and launched on October 2007 as an online bookstore. Soon it turned out to be a huge success and became one of India’s biggest online stores for mobile, clothing, home appliances, Grocery, etc. The company later sold 77 percent of its shares to Walmart in 2018 for 16 billion U.S. dollars. Following the trail of Amazon, Flipkart gained people’s trust and launched a wide range of products and services.
3. Myntra
- Foundation Year: 2007
- Annual Revenue: Rs 3,600 Crore
- Monthly Visitors: 48.03 Million
- Founder: Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena
Unlike Amazon and Flipkart, Myntra mainly provides services related to clothing fashion, home, and lifestyle. Myntra came a long way to acquire its place among the top e-commerce companies in India. A boost in its growth was reflected by its 2018 sale to Flipkart. Subsidizing efforts in exploring innovative ideas and practices like artificial intelligence, metaverse, and live commerce have helped Myntra to keep up with the big bulls.
4. Snapdeal
- Foundation Year: 2010
- Annual Revenue: Rs 510 Crores
- Monthly Visitors: 56.41 Million
- Founder: Kunal Bahl and Rohit Bansal.
Snapdeal is popularly known for its epic comeback in 2017 after it almost got sold to Flipkart. Most of snapdeal’s products and services focus on home decor and fashion within an affordable range of cost. Because of its growing popularity, Snapdeal was able to captivate huge investors like Foxconn, Alibaba, and Softbank to acquire funding. Over 96.65% of pin codes across India are covered by Snapdeal and have 200 Million app installations per month.
5. IndiaMART
- Foundation Year: 1996
- Annual Revenue: Rs 858.63 Crores
- Monthly Visitors: 47.23 Million
- Founder: Dinesh Agarwal and Brijesh Agrawal.
IndiaMART has been founded with the purpose “to make doing business easy” and provides facilities like B2B (Business To Business) and B2C (Business To Consumer). This makes IndiaMART one of the best platforms for connecting manufacturers and customers. 60% of market shares in India’s classified online B2B sector is held by IndiaMART. Subscription fees are their only source of revenue along with advertising revenue.
6. Zomato
- Foundation Year: 2008
- Annual Revenue: Rs 4108.50 Crores
- Monthly Visitors: 32.1 Million
- Founder: Deepinder Goyal and Pankaj Chaddah
Zomato is a multinational food and restaurant company known for providing food delivery from partner restaurants. Along with panoramic photos, the company also provides reviews, menus, and every other information customers need to know before ordering. Zomato changed the traditional way of dining and became a part of our everyday life.
7. BookMyShow
- Foundation Year: 2007
- Annual Revenue: Rs 563 Crores
- Monthly Visitors: 43.25 Million
- Founder: Ashish Hemrajani, Parikshit Dar, and Rajesh Balpande
BookMyShow is one of the biggest portals for ticketing, entertainment, and media firm in India. It also expanded its ticketing services to Indonesia, Sri Lanka, the West Indies, and the UAE. BookMyShow became the official ticketing partner for several IPL teams, Formula 1 and the Indian Grand Prix in 2010 and 2011, taking it to new heights. Hence claiming its position among the top e-commerce companies in India.
8. FirstCry
- Foundation Year: 2010
- Annual Revenue: Rs 13 Crores
- Monthly Visitors: 16.94 Million
- Founder: Supam Maheshwari, Amitava Saha, Prashant Jadhav, and Sanket Hattimattur.
FirstCry provides a wide range of products and facilities for babies, kids, and moms. Its product inventory has more than 90,000 items and 1200 national and international brands that include books, toys, nursing, and feeding products. The company was able to raise 740 million U.S. Dollars as an investment from SoftBank. Its wide range of products and brands helped them to reclaim its name in this list.
9. OLX
- Foundation Year: 2006
- Annual Revenue: Rs 103.56 Crore
- Monthly Visitors: 102.4 Million
- Founder: Fabrice Grinda, Alec Oxenford, and Jordi Castello
OLX is a trading platform and service where consumers can buy or sell cars, household goods, furnitures, musical instruments, houses, and more. It is one of the best consumer-to-consumer (C2C) platforms and has a market share of 80%. OLX has also won two Effie awards in 2015 and three Effie awards in 2016 because of its effective marketing campaigns.
10. Nykaa
- Foundation Year: 2012
- Annual Revenue: Rs 3773.9 Crore
- Monthly Visitors: 20.84 Million
- Founder: Falguni Nayar
Nykaa was founded by Falguni Nayar, an entrepreneur from a finite group of women who challenged the elite ‘big boy’s club’. Nykaa first started as an online store for beauty products and turned into a multi-brand company for selling cosmetics. It also provides goods and services like makeup, skincare, haircare, personal care, and grooming appliances with over 2400+ brands.
11. 1mg
- Foundation Year: 2015
- Annual Revenue: Rs 134.04 Crore
- Monthly Visitors: 14.62 Million
- Founder: Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan
1mg is an online healthcare pharmacy that provides various products at an affordable cost to customers. It delivers medicines and other health products in 1000+ cities across India. 1mg also offers facilities and services like lab tests, medical consultancy and information, fitness products, nutrition and supplements, homeopathy, and Ayurveda products.
12. Lenskart
- Foundation Year: 2010
- Annual Revenue: Rs 1500 Crore
- Monthly Visitors: 5.310 Million
- Founder: Peyush Bansal
Lenskart is one of the fastest-growing eyewear businesses, along with services like “home eye check-ups.” Innovative ideas, technology, and out-of-the-box thinking are the reasons Lenskart sits on the table of the top e-commerce companies in India. It has over 5000 varieties of eyewear and working with some of the best house brands made a strong impact.
Final Thoughts
This dramatic and drastic emergence of e-commerce companies in India not only enriched sales but also uplifted markets and made available job opportunities and growth for small businesses. All these companies listed above were the stepping stones of the ladder of the e-commerce scenario in India. Like a small rolling ball of snow from the mountain, these e-commerce companies in India started and transformed into these gigantic empires that now dominate the market.
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