Established in 2007 by Sachin Bansal and Binny Bansal, Flipkart is considered to be the pioneers of ecommerce in India.
Image: company logo
The registered office of the company is in Singapore while its headquarters is in Bangalore, and is one of the most popular online shopping destinations in India. Started by a team of two persons, Flipkart today boasts of having 40 million products across 80 plus categories.
The company’s website reports 8 million shipments per month, 75 million registered users, 10 million daily page visits, 85000 sellers with 17 state of the art warehouses.
Flipkart started off a s bookstore in 2007. In 2010, it launched the cash on delivery, music, movies and mobile shopping. It expanded into fashion, lifestyle and apparel in 2012. 2013 was a landmark year for Flipkart in which it reportedly sold around 1 lakh books in a single day. In 2014, it acquired Myntra, received a billion-dollar funding and started in-a-day delivery guarantee. The company launched experience zones in 2015 along with a mobile version of its website – Flipkart Lite. In 2015, it bought a stake in MapmyIndia to enhance its delivery services with the help of navigation technologies. Flipkart’s mobile app was the first to cross 50 million registered users in 2016. Flipkart investors include Tiger Global, Accel Partners, Morgan Stanley, Sofina SA, Vulcan Inc., Naspers, Iconic Capital among a host of other private equity partners.
Flipkart also has items under its own brand known as “DigiFlip” which includes tablets, laptop bags, USB drives. In 2014, the company launched its own brand of mobile phones and tablets – Phablets. Also it has its own healthcare and in-house home appliances brand known as Citron. Flipkart is one of the most valuable ecommerce companies in India with its founders featuring in the Forbes India Rich List 2015.