Stating that startups are "hopeless" and 90% of them "are not going anywhere", Future Group CEO Kishore Biyani on Wednesday said they have been made to look attractive only through daily full-page ads on newspapers. "I think 90% startups are not going anywhere. They are hopeless...In next three-four years revenues of these companies would not be more than Rs 3,000 crore to Rs 4,000 crore," Biyani said here at the Economist India Summit. Otherwise I don't think that startups are working on a canvas, which is larger." Despite Future group acquiring online furniture seller Fab Furnish, Biyani said "it's not viable to run an e-commerce company today".

Source: dna September 07, 2016 13:45 UTC