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flipkart
Flipkart is an Indian e-commerce company that was founded in 2007 and is headquartered in Bangalore. It has raised over $1 billion in funding from investors and is working towards becoming India's first $100 billion internet company. Flipkart has acquired other companies like Myntra to expand its offerings. It competes with other Indian e-commerce sites and has seen success with sales events like Big Billion Day, reaching $100 million in sales in just 10 hours. Flipkart aims to continue growing its market share of India's retail sector, which is estimated to reach $6 billion online by 2015.
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- 1. The Online Megastore Preparedby:ABDUL AFEEF http://www.abdulafeef.com
- 2. Alexa rank 7,fresh capital of $1 billion, 14000 employees and day by day inching towards becoming India’s first $100 billion internet company.
- 3. Introduction Flipkart isan Indian electronic commerce company founded in 2007 Founded by Sachin Bansal and Binny Bansal Headquartered in Bangalore, Karnataka Registered in Singapore, and owned by a Singapore- based holding company Legally, Flipkart is not an Indian company since it is registered in Singapore and majority of its shareholders are foreigners.
- 4. Founders Binny Bansal COO andCo-founder Sachin Bansal CEO and Co-founder
- 5. Sachin Bansal AndBinny Bansal Binny and Sachin crossed paths thrice before starting Flipkart. At school where they didn’t know each other well; later, at IIT Delhi, they came close and became good friends, as they were in the same course; and, finally, at Amazon, where Binny joined in Jan 2007, a year after Sachin (who joined in Jan 2006), and quit in a few months (Sep 2007) to start Flipkart.
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- 7. Funding Initially fundedby the Bansals themselves with 4 lakh(INR) Flipkart has later raised funding from venture capital funds Accel India (US$1 million in 2009)and Tiger Global (US$10 million in 2010 and US$20 million in June 2011) On 24 August 2012, Flipkart announced the completion of its 4th round of $150 million funding from MIH (part of Naspers Group) and ICONIQ Capital.
- 8. In 10 July2013,$200 million from existing investors In July 2013, Flipkart raised USD 160 million from private equity investors In October 2013, additional $160 million from new investors Dragoneer Investment Group, Morgan Stanley Wealth Management,Sofina SA and Vulcan Inc.with participation from existing investor Tiger Global.
- 9. On 26May 2014, Flipkart announced that it has raised $210 million from Yuri Milner’s DST Global and its existing investors Tiger Global, Naspers and Iconiq Capital. On 29 July 2014, Flipkart announced that it raised $1 billion from Tiger Global Management LLC, Accel Partners, and Morgan Stanley Investment Management and a new investor Singapore sovereign-wealth fund GIC
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- 11. Acquisitions • 2010: WeRead,a social book discovery tool. • 2011: Mime360, a digital content platform company. • 2011: Chakpak.com, a Bollywood news site that offers updates, news, photos and videos.
- 12. • 2012: Letsbuy.com,an Indian e-retailer in electronics. Flipkart has bought the company for an estimated US$25 million. Letsbuy.com was closed down and all traffic to Letsbuy have been diverted to Flipkart. • 2014: Acquired Myntra.com in an estimated INR 2,000 crore deal
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- 15. In-house Products DigiflipPro XT 712 Tablet. Networking Router, under its own brand name named DigiFlip WR001 300 Mbit/s Wireless N Router. In September 2014 Flipkart launched its in-house home appliances and personal healthcare brand Citron. The label includes a wide range of cooking utilities and grooming products.
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- 17. Exclusive Product Launches Moto G Moto X Xiaomi Mi3 Xiaomi Redmi Partnered with Jumbo Electroncis to launch Yota Phone (worlds first dual-scree Smart Phone.)
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- 19. Big Billion Day Flipkarthas redefined ‘big’ in many ways in the year 2014 Achieved its sales target of $100 million in GMV in a matter of 10 hours only There were more than 10000 field staff to make sure that the ordered product during the deal day is delivered on time.
- 20. Conclusion • E-Commerce currentlyaccounts for about 1% of India’s $500-billion retail sector. • India’s Online retail industry is estimated to reach $6 billion (about INR 36,800 Crore) in size in 2015, according to research firm Gartner.
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