India’s Infibeam Eyes Shopify Niche Selling E-Retailer Software
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With India’s e-commerce market projected to grow 10 times by 2020, MIT alumnus Vishal Mehta says he’s in a sweet spot making software that enables businesses to sell online, much like Canada’s Shopify Inc.
Mehta’s Infibeam Incorporation Ltd., which last week became the first Indian e-commerce company to announce plans for an initial share sale, intends to raise 4.5 billion rupees ($71 million) for building data centers and warehouses so its clients can hawk their products on any marketplace of their choice.