Few days back, The Times of India carried a story based on a rumor claiming Flipkart and Myntra might merge. Yesterday, TOI reported that Myntra is raising $50 million from a consortium of investors led by PremjiInvest, the proprietary investment arm of Azim Premji. Both stories seem to be ironic and fueled by rumors. [No valid facts or people were quoted]
Few days ago there were talks of Jabong shutting down. Adding to the long and everlasting list of rumors, we’ve been hearing another new one – “Yebhi.com is shutting down.” Yes, the homegrown marketplace, which had raised $40 Mn of investment, and the same e-commerce company managing the ecommerce portal of IRCTC, is calling it quits.
The rumor of Yebhi closing started about a week ago. So this time we decided to go behind the scenes to understand the thin imaginary line that exists between reality and hypothesis.
Sit back and enjoy as we take you through the journey of how a rumor is born, cultivated and then spread.
A few days back I got a call from a Tipster. According to him Yebhi was en route to shutting down. You mean “The Yebhi.com” is shutting down? – I asked him a number of times, still in shock. It’s not the kind of a news one hears often. After all Yebhi had gotten funded just last year, is managing IRCTC etc. etc. So I decided to let the rumor pass and cursed my dear friend (Tipster) for coming up with such baseless claims.