99% startups die : Punit Soni may have chosen to return to Silicon Valley but he remains incredibly bullish about India’s startup ecosystem. In March 2015, Soni was appointed Chief product officer of Flipkart, India’s biggest domestic e-commerce company. But later he quit and returned to Silicon Valley.But when Soni left India he told that the start up sector lacked maturity and cultural differences, among others, as reasons for leaving, but he remained optimistic about opportunities in the world’s third-largest startup economy.In an interview, Soni said that Flipkart is a mammoth company. It’s not really a startup by any account whatsoever. It’s almost 10,000 or 15,000 people if you catch all the other operations people in the game. They have massive infusions of cash. The way they operate and the problems Flipkart has to solve is very different from what has to be solved when you are operating a small startup so it’s hard to translate learnings. But I will say this—there are few people I know who are bigger hustlers than Sachin Bansal and Binny Bansal are. And if there’s anything you can learn when you start your company is that you just need to hustle. There are going to be pretty bad days and pretty good days but if you put your head to it, there’s a shot that you’ll actually get through it. Any company that successful, let alone has the success of Flipkart, is a miracle because 99% of startups die.
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