05
- March
2017
Posted By : admin
FLIPKART STARTUP STORY

FLIPKART STARTUP STORY

WE CAN EASILY STATE THAT FLIPKART STARTUP STORY HAS BEEN PHENOMINAL BECAUSE IT HAS GAINED A HUGE CUSTOMER BASE AND  A SECOND NAME ” AMAZON OF INDIA“. ALTHOUGH AMAZON IS ALSO PRETTY ACTIVE IN INDIA BUT STILL INDIAN PEOPLE LOVE MORE TO BUY FROM FLIPKART. IT HAS SEEN A PHENOMINAL GROWTH FROM STARTED JUST SELLING BOOKS AND BUILDING A COMPANY WHICH ONCE WAS VALUED AT $15 BILLION IS A GREAT ACHIEVMENT.

FLIPKART STARTUP STORY

HERE ARE SOME POINTS WHICH WILL HELP YOU UNDERSTAND THE JOURNEY BETTER

 

WHEN & WHERE

 

FLIPKART STARTUP STORY

FLIPKART was started in 2007 when E-Commerce industry was just introduced in India the company headquarters is in Bangalore but it is registered in Singapore. Since then there has been no coming back for FLIPKART success story. Also, this startup has also inspired a huge no. of aspiring entreprenuers to dream and become a successful entrepreneur.

FOUNDERS

FLIPKART STARTUP STORY

SACHIN BANSAL and BINNY BANSAL are founders of FLIPKART. They both are Alumina of IIT Delhi and are native  of Chandigarh India. earlier they have been working for Amazon but they left their job to start their own business
 
It would have been a very daring decision to think of starting an eCommerce site in a country where people love to buy in person .
But thanks to them and there E-Commerce startup that today India has noticed  a shift in trend  from personal buying to online shopping.

GOODS OFFERED INITIALLY.

FLIPKART STARTUP STORY

At first FLIPKART was selling just books then it soon expanded and began offering a wide variety of goods . A product category with high margins, low maintenance and items that are easy to transport. Books are also non perishable items and their value does not go down with time. FLIPKART did not have to maintain inventory in the initial days when orders were low, as books could be procured directly from distributors based on the number of orders from customers. Added to this, delivery time of books was not extremely critical for initial customers as they ordered mostly for reading at leisure. This choice of product category helped FLIPKART ensure better customer satisfaction in the initial years.

FUNDING HISTORY

FLIPKART STARTUP STORY

Initially FLIPKART raised funds through venture capital funding, as time passed by it grow in business and eventually more funding arrived. It also paid it’s investors with brilliant ROI  performance year after year.

DIFFICULTIES THEY FACED

FLIPKART STARTUP STORY

 

When FLIPKARTwas launched, every E-Commerce company in India was facing some difficulties.
 
First problem was that of online payment gateways, as we know in India people do not prefer online payment methods. Flipkart addressed this problem by introducing the concept of CASH ON DELIVERY.Flipkart was the first  to introduce this method and today this method is copied by another competitors.
 
And the second problem was that of the supplying system. The success of any E-Commerce company depends upon the timely delivery of products Flipkart also solved this problem by introducing their own supply chain management system.

ACQUISITIONS.

FLIPKART STARTUP STORY

FLIPKART STARTUP STORY

As all the companies, when they grow in their size they tend to buy all of the companies in their competition and FLIPKART was no different when it grew it purchased companies like myntra.com letsbuy.com to enhance their market share. Till this time, everyone knew that FLIPKART startup story  was a hit.

CURRENT VALUATION.

FLIPKART STARTUP STORY

However, the current valuation of Flipkart has decreased adversely and it is calculated at 5.54 billion dollars.
Also, the startup ,Flipkart is also into talk with Walmart for an investment of upto 1 billion dollars which could potentially help both the companies to take on Amazon in India.

ALSO CHEKOUT

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