Even growth companies that have scaled up due to their freemium model, have failed to monetise this. It is time to become more realistic and get back to business in terms of running a profitable business,” he added.But other industry experts have reacted with surprise, and have stated that the report, by largely ignoring Asia’s thirdlargest economy, has missed important trends.“There is nothing on digital advertising in India in the report. In absolute terms, we are more than a $1-billion market. The ecommerce space has one of the largest GMVs, which is more than Rs 60,000 crore. There is no mention of growth in digital transaction, where the numbers are much higher than other countries,” Subho Ray, president, Internet and Mobile Association of India (IAMAI), said.“At the end of the day, India is a massive market for internet companies given the user growth and how we take internet as an agent for transformation…With the exit of Flipkart at a sky-rocketing valuation, not including India in the report means you are missing out on some major trends,” Ray said.

Source: Economic Times June 01, 2018 02:26 UTC