left: Amit Agarwal, vice-president and country head, Amazon India; and Kalyan Krishnamurthy, CEO, Flipkart
Synopsis
Venture-capital play has been a small sub-plot within the large M&A and joint-venture deals for both the e-commerce market leaders. They have invested around USD100 million each so far in picking minority stakes in startups. Flipkart has a portfolio that includes a unicorn and a soonicorn, while Amazon is looking to see one of its fintech bets break out.
When online trucking platform BlackBuck entered the unicorn club last month, it caused a minor celebration in another corporate headquarters just 2km away in the same Bengaluru suburb — Flipkart’s office in Embassy Tech Village. The proximity of Flipkart and BlackBuck is not just geographical.BlackBuck is the first unicorn from a clutch of strategic startup investments that Flipkart has made in the past six years. In the three early rounds from
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