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.
http://www.rediff.com/business/slide-show/slide-show-1-interview-founders-run-the-company-not-investors-flipkart-ceo/20140730.htm
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://indianexpress.com/article/business/companies/flipkart-myntra-announce-merger/
https://en.wikipedia.org/wiki/Flipkart
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