Flipkart , an e-commerce website was founded by two friends Sachin Bansal and Binny Bansal after they both left their jobs at Amazon in 2007. Flipkart went live in 2007 with initial investment of Rs400000 ( CAD 8000 ) . The 8 grand company is now valued at US 15 Billion.

Flipkart was started a mere books and e-books seller online but expanded rapidly to almost all the fields. You can now buy anything from toothpaste and branded clothes to furniture and Tyre’s of vehicles just by clicking on the link www.flipkart.com.

This giant has more than 33000 employees and is one of the highest paying employer in the e-retail market. Flipkart acquired www.Myntra.com , an e-commerce competitor in a $319 million deal. The e-commerce trend , door to door delivery , Cash On Delivery (COD)  and other tactics specific to indian market resulted to the rise and growth of flipkart.

6th October 2014 , was a historical day in the e-commerce market of India. Flipkart sold products worth Rs 650 Crores ($100 Million) in less than 10 hours  on ” Big Billion Day ”

Flipkart.com has acquired many startups like Letsbuy.com , WeRead , Chakpak , Mime360 and a few other in past 5 years. This e-commerce leader has been collaborating with Motorolla , Xiaomi , Redmi to launch their products online only on Flipkart. This collaboration has resulted in mutual benefits to both the companies. Companies like Xiaomi get the hype due to the launch on single platform and on a huge scale. 40000 units of Redmi 1S , a $100 smartphone were sold in less than a second on its launch date.

 

Flipkart.com is one the fastest growing companies in the world and can be looked up as India’s response to E-commerce giants like Amazon , Ebay etc. 

 

Reference

http://economictimes.indiatimes.com/industry/flipkart-countrys-largest-online-bookstore/articleshow/6108317.cms

http://indianexpress.com/article/business/companies/flipkart-myntra-announce-merger/

https://en.wikipedia.org/wiki/Flipkart

 

 

Turing Pharmaceuticals obtain the rights to produce Daraprim last month. Daraprim is a drug that helps people with weak immune system. It is the drug prescribed to HIV Positive people to strengthen their immune system time to time.

The Former Hedge Funder and Founder of Turing Pharmaceuticals , Martin Shkreli Increased the price of HIV Drug by 5000% . A single dose that was sold for $13.50 , is now being sold at $750 per tablet.

Martin is now being criticized for this shrewd move. The pill costs less than a dollar which now being sold at $750. To this criticism Shkreli responded by saying that the cost does not include the marketing and distribution cost which has been increasing since forever.

“If there is a company that was selling an aston martin at the price of a bicycle , and we buy that company and we ask to charge Toyota prices , I don’t think that should be a crime. We are charging the right price that the market was missing  and we are doing very good with that profit by putting it back in the patients hand”  – Martin Shkreli 

Martin Shkreli had no regrets after increasing the price of this essential drug. Though he has agreed to reduce the prices after facing  heat and anger from the public. The 32 year old argues that the increase in price was necessary to get funds for further research and development of advanced medications for HIV patients.

The 32 year old is turning out to be the Jordon Belfrot ( Wolf Of Wall Street ) of the Pharmaceutical Industry.

Reference – http://www.bbc.com/news/world-us-canada-34320413