The Indian start-up ecosystem is waiting for its PayPal Mafia, which could trigger a much bigger start-up revolution
Last month, when redBus.in, India’s largest bus ticketing firm was acquired by the Ibibo Group for around $125 million, there were celebrations across the country’s start-up ecosystem. Venture capitalists hailed it as long-pending endorsement for Indian e-commerce business and felt that it could trigger a new wave of such exits. Entrepreneurs, especially in the Internet commerce space, heaved a sigh of relief believing that their nightmarish hunt to raise additional money would end.
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