FlipkartĀ is an eCommerce store that sells a sweeping range of products that includes electronic gadgets and accessories, attires, home decor items, and much more. Over the years, it has acquired many companies like Myntra, PhonePe, Mime 360, Appiterate etc.
- Industry: Internet
- Founded: 2007
- Founder(s): Sachin Bansal, Binny Bansal
- Headquarters: Bangalore, Karnataka, India
- Subsidiaries: Myntra, Jabong.com, ebay.in, PhonePe, eBay.in, eKart
- Website: flipkart.com
History of Flipkart
Flipkart is the largest retailer in India founded by Binny Bansal and Sachin Bansal in 2007. Both of them are graduates from the āIndian Institute of Technology Delhiā. Both of them worked for the giant retailer Amazon.com previously and left Amazon to start their startup āFlipkart Online Services Pvt. Ltd.ā The first product the Company sold was the book, āLeaving Microsoft for Changing the World for a Customer from Hyderabad.ā
Flipkart has over 33,000 employees. It acquired the Mime360.com and the Chakpak.com websites in the months of November and October in 2011. The Company launched its āFlyte Digital Musicā store in the month of February 2012.
The Company in 2015 bought a stake in the āroute optimization and navigationā startup, known as āMapmyIndia.ā It declared its āFlyte Digital Musical āstore in the month of February 2012. The Company launched mobile phones, phablets and own tablets in the month of July 2014. In the same month, it also launched its networking router āDigiFlip WR001 300 Mbit/s Wireless N Router.ā
More About Flipkart
Flipkart is Indiaās largest electronic commerce Company. It operates through a complicated business structure that comprises of nine firms, some registered in India and some in Singapore.
Flipkart has done many acquisitions over the years. In 2010 it acquired āWeRead,ā which is a tool for discovering social books. In 2011, it acquired the ādigital contentā Company Mime360. Cakpak.com is part of Flipkartās 2011 acquisition. It is a site of Bollywood news that offers news, updates, videos, and photos. It acquired āLetsbuy.comā in 2012, which is an Indian electronics e-retailer. Myntra.com is an acquisition of Flipkart of 2014. It even acquired Appiterate, which is a āmobile marketingā start-up. The Company acquired the payment start-up PhonePe in April 2016. It funded the āParenting network Tinystepā in the month of January 2017.
Motorola Mobility launched its budget smartphone, āMoto Gā on the 5th of February 2014 in India in partnership with Flipkart. Xiaomi Mi3, the high-end smartphone was launched successfully with a partnership with Flipkart. Flipkart launched its āpersonal healthcareā brand Citron and its in-house appliances in the month of September 2014. The Citron brand offers a wide range of grooming and cooking utilities.
Accolades of Flipkart:
- In the month of April 2016, Binny Bansal and Sachin Bansal made it to the list of the ā100 Most Influential People.ā
- The two founders of Flipkart entered the list of āForbes Rich Indiansā at the position of 86.
- Sachin Bansal received the āEntrepreneur of the Yearā award in 2012 and 2013 from the āEconomic Times.ā
- At the CNBC TV 18ās, the āIndia Business Leaderā awards Flipkart.com got the honor of āYoung Turk of the Year.ā