In May, Paytm raised $1.4 billion (over Rs 9,000 crore) from Japanese investor SoftBank. Three months later, it was the turn of India's largest ecommerce player Flipkart to bag $2.5 billion (Rs 16,200 crore) from Soft Bank's $100 billion Vision Fund. And, early this year, American ecommerce giant Amazon pumped in another Rs 1,680 crore in its India operations.Clearly, for the well-funded big boys of ecommerce, profits can wait. Paytm Mall, the ecommerce arm of Alibaba-backed Paytm, is doling out Rs 501 crore worth of cashbacks during the four-day Cashback Sale, informs Amit Sinha, COO of Paytm Mall. Unbridled funding is like a drug and once founders get addicted to continuous funding at high valuations, they can't get off it.

Source: Economic Times September 23, 2017 18:22 UTC