Flipkart is an e-commerce company serving in the Indian market. The company is headquartered in the city of Bengaluru. The company was founded by Binny Bansal and Sachin Bansal. They are actually not related at all. Flipkart has produced its own products under the name of Digiflip. The product line has tablets , laptop bags and other computer accessories. The company has a total value of $20 billion as of 2018. Walmart has acquired 75% of the company for 16 billlion US dollars. This will help the company expand into the Asian market.
The history of flipkart
The company was founded by two former amazon employees Sachin Bansal and Binny Bansal. Both had been educated in the Indian institute of Technology in Dehli. In 2007 they incorporated Flipkart as Flipkart Online Services PVT.LTD. The first thing that flipkart was selling were books. Like amazon flipkart popularized the idea of buying books online in India.
Mime36.com was acquired in October and November 2011. This gave the company the rights to the digital catalogue of Chakpak.com. Flipkart in 212 introduced a digital music store called Flyte. Flyte is like iTunes in nature. This service was shutdown in 17 June 2013 because paid songs where not popular in India due to piracy. People just preferred downloading free music.
Flipkart managed to be the largest e-commerce store in India. Its main e-commerce competitor is Amazon India which is a subsidiary of Amazon Inc. In 2014 flipkart carried out a second big billion sale where they recorded turnover of $300 million. In 2015 the company bought a stake in the indian start-up Mapmyindia. This helps it improve its delivery methods.