Interesting facts about flipkart

Wednesday 29 October 2014

Interesting facts about flipkart

Flipkart, the online shopping portal that has changed how India shops is an e-commerce site which started with selling books online grew to the state that it got $1 billion financing (over Rs 6,000 crore) and company is now valued at about US $ 7 billion (around Rs 42,000 crore).

So let’s know few interesting facts about rise of this US $ 7 billion (around Rs 42,000 crore) valued company.

INDIANS: Company founded by alumni of the Indian Institute of Technology Delhi Sachin and Binny Bansal in 2007.

Sachin and Binny Bansal are not related.
Sachin plays kickass Quake3. When a bunch of folks joined flipkart a year back he defeated almost all of us by a major margin.

EMPLOYS BECOME COMPETITORS: They were Employs of Amazon.com who is struggling to compete with their Flipkart today.

WELL BEGUN IS HALF DONE: Started with selling books online which was success and then expanded to offer other products.

First book sold at flipkart was John Woods' “Leaving Microsoft to Change the World” which was purchased by VVK Chandra from Andhra Pradesh.

Back in 2007, this is how the site looked like.

There was a time when FlipKart used to operate out of an office which had a rent of like 8,000/- per month. It had no power backup, no AC, and almost no-windows.

Flipkart became profitable at some point of time with an initial investment of less than 5L from founder's savings.

NOT AN INDIAN COMPANY:

· Legally, Flipkart is not an Indian company since it is registered in Singapore and majority of its shareholders are foreigners. Because foreign companies are not allowed to do multi-brand e-retailing in India, Flipkart sell goods in India through a company called WS Retail.

GROWING WITH ACQUISITIONS: Flipkart is having approach to grow strong with own customer base and new acquisitions. The acquisitions they made were