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Havish Gupta

Figuring Out • 1y

Everything about Flipkart! So the story date's back to 2007 Sachin and Binni were working at Amazon India. Amazon had plans to set up E-com in india but didn't due to reccsion and less interest usage. Later they left Amazon and started Flipkart as an online book store in 2007. But it was though to get vendors but they got few. They only got one order in whole October. But that didn't stop them. Flipkart were particular about customer satisfaction and made a great policy for that This led to Flipkart sellingBy the end of 4cr worth of books in 2008 and then they also raised $1 Million from Accel Capital followed by $10 Million funding from Tiger Global. Their sales hit 75cr untill 2010. Seeing this they entered Mobile Segment which failed as due to less trust for big purchases. So they launched cash on delivery and easy return policy, which worked well. Flipkart also increased Investors belief in internet companies which led to start of tons of starups. (Continued in comments)

5 replies13 likes

Replies (5)

Anonymous 2

Hey I am on Medial • 1y

The mobile failure anecdote is really interesting. Shows the importance of timing and getting your product fit right as the market evolves.

1 replies1 like

Anonymous 1

Hey I am on Medial • 1y

It's crazy to think how pioneering and risky e-commerce seemed in India back in the late 2000s. Flipkart's success really paved the way for the startup boom.

1 replies1 like

Havish Gupta

Figuring Out • 1y

In 2013, Amazon entered india, but flipkart wasn't stressed because of strong brand they created and they also raised $2 Billion that year. Later they introduced the big billion day sale where they sold ₹600cr worth of goods in one day. This was followed by Flipkart acquiring bunch of startups. But then, Flipkart faced a ton of competition from Amazon due to it's prime service (which offered fast delivery, ott and music). They also did some mistake like using app only model which led to customer shifting to competition. Today, flipkart boasts a ₹56,000cr sales and is biggest startup in india. Internal Issues The Board didn't liked Sachin's work so he was forced to resign as CEO and Binny become the CEO. Then Sachin approached companies to aquire them thinking this would get him CEO's position. Walmart did Aquire it for $17 billion but Sachin didn't become the ceo. Later both founders resigned and started Navi and xTo10x individually.

0 replies2 likes

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Anonymous

Hey I am on Medial • 5m

Will they bounce back and disrupt Amazon- Flipkart monopoly

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Anonymous

Hey I am on Medial • 6m

How Amazon and Flipkart used to avoid scam by sellers during early days? I am asking when Fulfilment by Amazon and Flipkart was not very prominent. I have heard in news channels that one guy ordered laptop through Flipkart have received bricks.

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Medial User

Hey I am on Medial • 2m

Does anyone know how to listing dryfruits on Amazon and Flipkart?

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Anonymous

Hey I am on Medial • 1y

How much it cost to build a Amazon and Flipkart like software?

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Uttkarsh Singh

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Blinkit has a big potential to disrupt Amazon and Flipkart, what do you think?

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Karan

It's Never Too Late • 3m

GREAT THINGS TAKES TIME Founders Of Flipkart Sachin And Binny Bansal Used To Sell And Deliver Books Themselves In 2007. Now Their Networth is over $1.5 Billion And their Product valuation's Over $35 Billion!

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LIKHITH

ON NE SAIT JAMAIS • 1y

Hey folks ! Realme and one plus are leaving the TV Market ! Why??? 1.They can't earn much profit from budget segment 2.They failed in the premium segment ●They are selling their stocks in amazon and flipkart ●Official websites are closed

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HigherLevelGames

Learning | Earning • 1y

Game Changing Growths of India [ PART 3 ] Flipkart was found in October 2007, in Bengaluru. They initially started by selling books and the initial investments were made by the families of the founders. In 2012, Flipkart acquired Letsbuy, an online