What is Flipkart?
Flipkart biggest and successful Indian e-commerce company that is located in Bengaluru, India. It has gained prominence over the online business companies by the consistent struggle of over 12 years. This company started by selling e-books, now sells everything you need to gloom. They have included many other categories like fashion, lifestyle, electronics and many more. Well, this company is growing fast and competing with the Amazon business. Even Flipkart held about $8.1 billion in 2018. This is more than enough for a new online company. It is estimated that it will get over the online market in 2023.
History of Flipkart:
- This company was started on September 15, 2007. It was founded by Sachin Bansal and Binny Bansal. They met at IIT-Delhi and they decided to launch the e-commerce site named Flipkart. They put the first brick of this company and it gained prominence as an online bookstore in India. They made a total of 20 shipments in their 1st year and they competed.
- Finally, the year 2008 started and this was a good luck year for them. This company started to get about 100 orders per day. Well, an exponential increase from 100 orders per year to 100 orders per day. They become confident and finally decide to open the office in Bengaluru at the Pin code 560034. They assured to provide 24/7 customer service and delivered over 3,400 shipments that year.
- In the year 2009, they hired the first full-time employee and decided to make a millionaire site. In September 2009, Accel Partners invested about $1 million in Flipkart. They also opened their offices in Mumbai and Delhi. Their business was extended and the headcount was leaped to 150.
- The journey continued and they added many services every year. In 2010, they added the Pioneer cash on the delivery payment method for the easiness of the customers. They also got Bangalore based social books discovery. They also introduced the 30 days’ return service and it made them appealing for the customers. This was the stone year in their history when they introduced many other categories like games, electronics, music, mobiles, and movies.
- 2011 was prominent for expanding the delivery network. They added digital wallets and added more categories like Health, personal care, computers, laptops, cameras, personal care, and stationery. They extended their delivery service to over 600 cities in India and launched 30 days’ replacement policy.
- 2012 added mobile shopping app of Flipkart. In February of the following year, they introduced an online music store. But they shut it down in 2013 due to intense competition. More categories were added, Baby care, Posters, Watches, Perfumes, Fashion, Menswear, and Toys.
- In 2013, they introduced the next day shipping guarantee and raised funds to $160 million. They made agreements to the many market companies and opened the platform to sellers. They expanded their business to a much higher level than they started to sell 100,000 books in a single day. Pay Zippy was introduced for the payment to merchants and customers. They added a single category that year and was Women lifestyle.
- 2014 was the Billion year in the history of Flipkart. As Myntra joined them and their Gross merchant value raised to $9.1 billion. They also added the same day delivery guarantee and scheduled delivery.
- In 2015, the addition of paternity, maternity and adoption policies made it more appealing for the customers. They launched the Flipkart Lite.
- 2016 was the year of exponential business worth and they earned over 100 million registered customers. The Flipkart mobile app registered with 50 million customers which are the milestone in Indian history. Binny Bansal made the CEO of the company.
- In 2017 they celebrated the 10 years of the successful business journey. Kalyan Krishnamurthy became new CEO of the company and Rahul Dravid launches #FlipkartBig10 logos for celebration. They raised about $1.4 billion from Microsoft, Tencent and eBay. eBay became the part of Flipkart group.
- In 2018, Walmart won bidding war over amazon and on 9 May 2018, he took about 77% control in Flipkart for $16 Billion. Then, Sachin Bansal left the company. And after some time on 18 August 2018, he got acquisition over the company. On 13 November, Binny Bansal also resigned due to personal issue.
Business Strategy of Flipkart:
The Flipkart platform is based on B2C model that is Buyer to Consumer. They are interested to provide the best and easy shopping opportunities to Indian consumer and will be useful for both consumer and company. They also allow other sellers from all over India to sell their products and encourage the small sellers. They struggled for the million dollars and end up by making billions of dollars. The company’s aim to make position among bestselling organizations. They are competing with their rival Amazon and trying to take their place.
- Flipkart is the largest online Indian store which is selling multiple categories and so far there is no other online store which is selling enough products. They have everything from books to daily care.
- Flipkart has a fast delivery service that can provide the ordered services almost to every corner of the country in time. You will not find any delay issue. The cash on delivery option is helping the most.
- They are used to provide the discount offers more often and you can find good discounts. They are providing the best quality and branded products.
- They are very serious with their works and there are minimum festival holidays. It is the plus point that they remain open.
- They are getting more employees because their salary packages are handsome. The other packages are also decent.
- Flipkart provides many benefits like frequent team outings, flexible working times and grants on mobile bills. You can also work from home.
- This is the best online selling company which provides almost every household at your doorstep. They provide genuine products and they also provide the 30 days’ return policy which is the most appealing point for all the customers.