HomePeopleCompanyProductsMotivationListsPhotosVideosQuotesSpend ItInterviewsContributeAbout UsContact Us
Flipkart Success Story
Quick Facts
Introduction
A quick look into any success story shows a path breaking idea at the heart of the tale. Flipkart is no exception. It is not the idea itself but the conviction to convert ideas into action and action into results is what defines a true success story. Measured by that yardstick, Flipkart has been a hugely successful.
Snapdeal StoryAmazon.com, Story
History
?
Back in 2007, when Flipkart was launched, Indian e-commerce industry was taking its beginner steps. The company is registered in Singapore, but theyir headquarters are in the city of Bangalore, India.
Founders
?
Sachin Bansal and Binny Bansal, who were working for Amazon.com had an idea to start an e-commerce company in India. Both of them are alumni of IIT, Delhi and are native of Chandigarh, India. They left their jobs in Amazon to start their own business.
One can easily call that a risky move. In a country where people have various tastes and preferences, an ecommerce start-up will always have enormous challenges. In India, people often prefer to shop in person and buy goods they see and like. Today, thanks to Flipkart, e-commerce has become one of the fastest growing sectors in India.
How it Started
?
Flipkart began selling books to begin with. It soon expanded and began offering a wide variety of goods. Innovating right from the start, Flipkart has been home to few of the striking features of Indian e-commerce.
Fundings History
?
In the first few years of its existence, Flipkart raised funds through venture capital funding. As the company grew in stature, more funding arrived. Flipkart repaid the investors’ faith with terrific performances year after year. In the financial year 2008-09, Flipkart had made sales to the tune of 40 million Indian rupees. This soon increased to 200 million Indian rupees the following year.
Their last round of Fundraising had increased their value to $ 15 billion, however, as of February 2016, according to Morgan Stanley, their estimated value stands at $11 billion.
