Flipkart is the biggest Indian online retailer established in 2007 by Sachin Bansal and Binny Bansal.
It started as an online bookstore, but has diversified into more than 70 categories moving forward. It was started with the objective of making books easily available to anyone who had web access. But being one of the first few players in the e-commerce space, it faced a lot of resistance from Indian buyers who were not accustomed to paying online. Hence, Flipkart introduced path-breaking services such as Cash-on-Delivery, EMI options, free shipping, 30-day replacement policy etc.
Flipkart has received multiple rounds of funding from various investors. In May 2014, they received $210 million from DST Global. Following that, in July 2014, flipkart raised $1 billion capital led by its existing investors Tiger Global and Naspers. Then, in May 2015, it further raised $550 million from some of its existing investors. After its last fundraising round in May 2015, Flipkart is now valued at $15 billion. Flipkart is now targeting a GMV of $ 8 billion by end of 2016.