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Flipkart

 



Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal. It is one of India’s leading E-commerce marketplaces and is headquartered in Bengaluru. The company initially started as an online bookstore. Later, it also started selling other items such as movies and mobile phones. Now the company offers more than 80 million products spread across more than 80 categories. It has the capacity to delivery eight million shipments per month.


Flipkart Group raised an additional US$ 1.2 billion from Walmart-led investor group in July 2020. Its valuation has reached US$ 24.9 billion post equity round. Flipkart has pledged to completely transition to electric vehicles (EVs) by 2030 across its E-commerce value chain by partnering with Climate Group’s global electric mobility initiative, EV100.


Company Website: www.flipkart.com



India’s leading E-commerce marketplace

100 million registered users

21 state-of-the-art warehouses

10 million daily page visits

Total income of Flipkart India Pvt Ltd stood at Rs. 43,357 crore (US$ 5.55 billion) in FY21.

Flipkart Internet Pvt Ltd – India’s largest e-commerce firm


Year Milestone

2022 

In May 2022, Flipkart’s pay later credit facility crossed 6 million users in 7 months.


In March 2022, Flipkart launched its third fulfilment centre in Amta at West Bengal’s Howrah district.




Don’t you think online buying and selling have become an essential part of our lives? It was youth and adults who initially relied on the internet to buy products at affordable prices with amazing return policies and guarantees, it was a trend back then.


Now, shopping online from eCommerce websites is no longer a trend but a practice that young and old both engage in. When we are talking about the Indian eCommerce industry, the name that comes first as the most popular eCommerce website in India is Flipkart.


Flipkart is the leading Indian eCommerce website founded by Sachin Bansal and Binny Bansal in 2007. The company is headquartered in Bengaluru, India. The market share of Flipkart Group was last recorded by RedSeer at a whopping 62% when it emerged as the leader during the festive sales.


This Indian eCommerce store has brought a revolution in the Indian e-retail industry. Here's looking at the success story of Flipkart and also learn more about its, founders, subsidiaries, parent organization, tagline, and more.



Flipkart - Company Highlights

Startup Name Flipkart

Headquarter Bengaluru, India

Sector E-commerce

Founders Sachin Bansal, Binny Bansal

Founded 2007

CEO Kalyan Krishnamurthy

Total Funding $12.6+ billion (January 2022)

Revenue $5.83+ 


Flipkart, one of the most popular & leading e-commerce companies in India with a market share of 31.9%. In 2016, Flipkart’s valuation stood at $20 billion, when American retail giant Walmart bought 77% stake in the company for $16 billion. Flipkart currently has more than 200 million registered customers and the company is offering more than 150 million products in more than 80 categories. Flipkart currently has about 36,000 employees and is competing in the e-commerce sector in India with competitors such as Amazon and Snapdeal.


EARLIER HISTORY OF FLIPKART

Flipkart was started by two friends Sachin Bansal and Binny Bansal. Flipkart was founded in 2007 in Bangalore, India. An interesting fact is, they share the same surname but they are not actually related. Sachin Bansal was born in 1981 in Chandigarh, India. In 2005, Sachin graduated from the Indian Institute of Technology (IIT), Delhi, with a degree in Computer Engineering he met Binny Bansal, the other founder of Flipkart. After graduation, Sachin joined Techspan and shortly after this, he joined Amazon Web Services in 2006 as a Senior Software Engineer.


Binny Bansal, on the other hand, was born in 1982 in Chandigarh, India. Along with Sachin, Binny also graduated from IIT in 2005 with a degree in Computer Engineering. That’s where the friendship between Binny and Sachin began. After graduation, Binny joined Sarnoff Corporation, but in 2007 he also joined Amazon Web Services.


In 2007, Sachin and Binny first thought of creating a comparison search engine. At that time, they saw a huge gap in the e-commerce sector in India and quit their job at Amazon Web Services to establish their e-commerce site, Flipkart. Initially, they set up their venture with an investment of Rs 400,000 and Flipkart started its journey by selling books. Because at that time it was not easy to find vendors of electronics, fashion, or household items in India. Even book vendors could not completely put their trust in an Internet-based service like Flipkart in the beginning. At that time Sachin Bansal took charge as the CEO of the company. In 2008, the company started operating with an office in a two-room apartment in Bangalore and gained popularity among book readers. Flipkart’s popularity began to catch the eye of investors and in 2009, the company was able to secure a capital of $1 million capital investment from an investment firm, Accel Partners. At that time, the company had a staff of over 150, and a total of three offices across India. At the end of that year, they were able to sell books worth a total of Rs 40 million.



Where Flipkart Was Born

Although Indian consumers at that time did not feel comfortable shopping online, Flipkart was able to gain the trust of customers by providing 24/7 customer support. In 2010, Tiger Global invested $10 million in Flipkart, and the company acquired the Bangalore-based social book discovery service “WeRead“. After the popularity of book sales picked up, Flipkart started selling mobiles under the electronics category. As the company did not achieve the desired success in it, they implemented cash on the delivery system for the first time in India. As a result, the company was able to gain the trust of consumers and Flipkart’s sales growth continued to grow. At the beginning of Fiscal Year 2011, their revenue stood at Rs 750 million, and in the same year, they acquired a digital content platform, Mime360. Flipkart, in the same year, officially registered their company since at that time the regulations did not allow 100% Foreign Direct Investment (FDI) to an online retail company providing multi-brand goods and services.


EMERGENCE OF FLIPKART

In 2012, Flipkart launched its own music streaming service, Flyte, with the intention of expanding their business in online music streaming services. But the service was discontinued the following year as it could not attract many customers at that time. In the same year, the company acquired online electronics retailer Letsbuy for around Rs 12.5 billion, which further boosted their business. That year, Flipkart occupied first position in the list of Top 20 E-retailers in India. According to the company’s website, they were able to sell 100,000 books in one day in 2013. In the same year, e-commerce giant Amazon entered the Indian market alongside the existing local competitor Snapdeal. The same year the company launched a payment gateway system called PayZippy, but shut it down the following year.


In 2014, Flipkart was able to raise a total of $2 billion through Tiger Global and Accel Partners as well as various investors. That same year, Flipkart acquired Indian e-commerce company Myntra for $330 million to add it to the Fashion & Lifestyle category in their portfolio. At the end of the year, the company’s revenue stood at Rs 28.4 billion. The next year, in 2015, it increased by about 80% to a little over Rs 95 billion. In the same year, Flipkart acquired Delhi-based mobile marketing firm ” Appiterate ” and bought a minor stake in MapmyIndia to further improve their delivery operations. According to a report by The Economic Times, Flipkart was able to sell products worth a total of Rs 20 billion in five days of the festive sale season last year. The same year, according to a report by firstpost, during Flipkart’s ‘Big Billion Sale’ the company sold 200 million mobile phones.In 2016, Flipkart acquired Jabong, another Indian fashion & lifestyle-based e-commerce business, for $60 million. Following the acquisition, Jabong began operating under Myntra and Flipkart’s market share in India’s fashion e-commerce sector stood at more than 60%. That year, Flipkart was able to cross the milestone of 100 million registered customers. In the same year, Co-founder Binny Bansal became the new CEO of Flipkart when Sachin Bansal stepped down from the position. According to a report by The Economic Times in October 2016, that year in its ‘festive sale season’, Flipkart was able to sell products worth a total of Rs 14 billion in one day. At the end of the year, the company’s revenue stood at Rs 132 billion. In April 2017, Tencent, eBay and Microsoft invested $1.4 billion in Flipkart, and the company’s valuation stood at $11.6 billion. That same year, Flipkart acquired India’s UPI-based payment start-up PhonePe for an undisclosed amount. Also in August, Japanese giant SoftBank invested $2.5 billion of their Vision in the company and at the end of the year, the company’s revenue stood at about Rs 156 billion.


WHERE IS FLIPKART TODAY?

In 2018, Flipkart was in the leading position with 31.9 % market share as an online retailer in India, while Amazon had a market share of 31.2%. Besides, the combined sales from Myntra and Jabong increased Flipkart’s market share to 38.3%. In August of that year, American retail giant Walmart bought a 77% stake in Flipkart for $16 billion, bringing the company’s valuation to more than $20 billion. During the acquisition, Flipkart co-founder Sachin Bansal, along with Softbank, eBay and Naspers, sold their entire stake to Walmart. After the acquisition, the company’s top management started reporting to Walmart eCommerce US CEO, Marc Lore. At the end of the year, the company’s revenue stood at Rs 217 billion.


In 2019, Flipkart released the in-app streaming service “Flipkart Video” to compete with Amazon’s premium video streaming service Amazon Prime. The service’s first original show, Back Benchers, was released on October 19 of that year. At the end of the year, the company’s revenue exceeded Rs 436.15 billion, but according to an article in Business Today, the company’s net loss for the year was $38.35 billion.


Flipkart-streaming-platform

Flipkart Streaming Platform

In April 2020, Flipkart launched a digital platform for kiranas and local MSMEs that would allow micro-market level B2B and B2C businesses to operate with more ease. In July of that year, Flipkart bought a 27% stake in Arvind Youth Brands, a subsidiary of Arvind Fashions Ltd, for Rs 2.6 billion. In October, Flipkart bought a 7.8% stake in Aditya Birla Fashion and Retail (ABFRL) for Rs 15 billion. In September, Chinese giant Tencent bought a 5.37% stake in Flipkart for 72.7 million. Walmart currently has 81.29% stake in Flipkart. In addition, co-founder Bini Bansal, Tiger GLobal, Microsoft and Accel Partners have a stake of 4.2%, 4.77%, 1.53% and 1.38%, respectively. According to Statista, the company’s total revenue at the end of 2020 stood at Rs 346.1 billion. However, according to a Business-Standard article, the company’s net loss that year was Rs 31.5 billion.


Flipkart revenue

Flipkart Revenue Report

THE BOTTOM LINE

Since its inception, Flipkart has been able to sustain their steady revenue growth every year. Due to India’s rising state of the middle-class community and expanding internet users, there is a lot of potential for e-commerce in the country. Realizing that Walmart’s investment in Flipkart was a very timely decision. However, Flipkart’s competition is a world class global e-commerce giant Amazon that has been giving the company a run for its money. Currently, the difference in market share between the two companies is not much. Ever since entering the Indian market in 2013, Flipkart has gradually built its reputation & worked to increase its market share. Besides, Flipkart is ruling the market compared to others in the Indian fashion and lifestyle and budget smartphone segment. Will the company be able to maintain its current position against Amazon in the future?



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We're known more by the impact we create than the titles we hold. Impact that is brought by working together on audacious challenges at scale with an aim to revolutionize for the Indian customer. We believe great ideas can emerge from anywhere and must be backed. Our people - backed by our culture of end-to-end ownership - have revolutionised India's e-commerce sector - several times over!



Flipkart users can choose between English and 11 Indian languages. Our teams built vernacular support in just 2.5 years, most of it while working remotely!


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Our journey of building India's biggest unicorn start-up has been full of successes, but also failures and learning from them. That's why there's calculated risk-taking, a high willingness to learn and improvise, and a growth orientation built into everything we do. Whether it be opening a new warehouse, or making our mobile app a bit more consumer friendly, we're always experimenting, learning and growing!



We celebrate our biggest risk that didn't work out each year with the Chandrayaan Award at our Annual Awards ceremony!




Work With The Best

The best people make the best teams. And we put all our efforts into finding the right people that fit into our high-performing inclusive teams. Everyone has a voice on the table and diversity of thoughts, styles and actions is celebrated. From a category leader to a wishmaster, we are all bound together and guided by our values of audacity, bias for action, customer-first, integrity and inclusion.



We have a dedicated Workplace Equality charter that focuses on inclusive talent attraction, talent development & retention, and culture & policies, supported by strong leadership commitment.


We Care

Our culture of care extends to our people, stakeholders, customers and the planet! We do not believe in a one size fits all strategy. Our benefits and care policies are driven by empathy and customised to the unique needs of individual Flipsters. Because when Flipsters and their families are cared for, they can focus on doing their best work. We put your hopes, dreams and endeavours first - always.



We take pride in being an employee-centric organization which keeps the best interest of its employees at the heart.

- Krishna Raghavan, Chief People Officer











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Flipkart

Flipkart is an e-commerce company founded in 2007 by Sachin Bansal and Binny Bansal. The company owns and operates an online shopping website in India. Flipkart, registered in Singapore, has also launched its own product range under the name "DigiFlip" with products including tablets, USBs, and laptop bags.



Some Interesting Facts:

Flipkart.com is India’s leading e-commerce marketplace with over 30 million products across multiple categories. Started by a team of 2, Flipkart today employs 30,000 people with 46 million registered users. With technology that enables 8 million shipments every month, 10 million daily page visits and 14 state of the art warehouses, they are ranked amongst top 5 websites in India based on Alexa ranking. Flipkart is the first billion dollar company in Indian e-








Recently Bansals became the first e-commerce promoters to enter Forbes India’s Richest Billionaire's List. After 2014 Big Billion Day sale, Flipkart has announced the second edition of Big Billion Day sale to


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