4. Flipkart Private Limited is an Indian e-commerce company,
headquartered in Bengaluru, and incorporated in Singapore as a private
limited company. The company initially focused on online book sales
before expanding into other product categories such as consumer
electronics, fashion, home essentials, groceries, and lifestyle products.
5. Type Private, subsidiary
Industry E-commerce
Founded 2007 (15 years ago)
Founder Sachin Bansal, Binny Bansal
Headquarters Bengaluru, Karnataka, India
CEO Kalyan Krishnamurthi
Services Online shopping
No of employees 30,000 (2016)
Revenue ₹43,615 crore (US$5.5 billion)
(FY 2019)
Owner Walmart (Parent)
7. Flipkart was founded in October 2007
by Sachin Bansal and Binny Bansal, alumni of
the IIT, Delhi and former Amazon employees.
The company initially focused on online book
sales with country-wide shipping. Flipkart
slowly grew in prominence and was receiving
100 orders per day by 2008.
Flipkart acquired Letsbuy, an online electronics
retailer,in 2012, and Myntra, an online
fashion retailer, for US$280 million in May
2014.
8. In April 2017, eBay announced that it would sell its
Indian subsidiary, eBay.in, to Flipkart and invest
US$500 million in the company.
On 9 May 2018, Walmart officially announced its intent
to acquire a 77% controlling stake in Flipkart for
US$16 billion. Following the purchase, Flipkart co-
founder Sachin Bansal left the company. The
remaining management team reported to Marc
Lore, CEO of Walmart eCommerce US. Walmart
president Doug McMillon cited plans to help Flipkart
with its sourcing and supply chain, while tapping on
its expertise to expand Walmart globally. Indian
traders protested against the deal, considering it a
threat to domestic business
9. By August 2015, after raising another US$700
million, Flipkart had raised a total of US$3
billion over 12 rounds of funding from 16
major investors. In April 2017, Flipkart
underwent another round of funding,
receiving US$1.4 billion in funding from
investors including eBay, Microsoft,
and Tencent. On 10 August 2017, SoftBank
Vision Fund invested another US$2.5 billion
in Flipkart.
10. Flipkart is valued at $37.6 billion as of
2022.It is planning to go public through a
listing in the United States of America in
2023.
Flipkart big billion days sales set a record of
most buying in a day in india .
Their current market cap is $1.64T. Flipkart's
brand is ranked #941 in the list of Global Top
1000 Brands, as rated by customers of
Flipkart .
11. •Sachin Bansal was awarded Entrepreneur of the Year, 2012–13
from The Economic Times, a lesading Indian economic daily
newspaper.
•In September 2015, the two founders entered Forbes
India's richest Indian by year, debuting in the 86th position with
a net worth of US$1.3 billion each.
• In April 2016, Sachin and Binny Bansal were named
to Time magazine's annual list of the 100 Most Influential
People in the World.
