3. Intro
Flipkart went live in 2007 with the objective of making books easily
available to anyone who had internet access. They’re present across
various categories including movies, music, games, mobiles, cameras,
computers, healthcare and personal products, home appliances and
electronics – and still counting!
With over 11.5 million book titles, 11 different categories, more than 2
million registered users and sale of 30000 items a day, they’re one of the
leading e-commerce players in the country.
Their success is largely due to their obsession with providing customers a
memorable online shopping experience. Be it Cash on Delivery, a 30-day
replacement policy, EMI options, free shipping - and of course the great
prices that they offer. Then there's dedicated Flipkart delivery team that
works round the clock to personally make sure packages reach on time.
For now they're present in 27 lucky cities, but don't worry, plans are
underway to spread to many others.
5. About Founders
Sachin Bansal
CEO and Co-founder
Sachin spent his early years in Chandigarh. He graduated from
IIT-Delhi with a degree in Computer Engineering. In 2006 he
joined Amazon.com in India which he later left to set-up
Flipkart.
As CEO, Sachin oversees all the customer facing activities of
the company ranging from technology to marketing. He is also
in charge of Flipkart's corporate divisions which include the
finance and legal departments.
An avid gaming enthusiast, Sachin likes to spend most of his
free time with his family
6. About founders
Binny Bansal
COO and Co-founder
Born and raised in Chandigarh, Binny went on to get a degree in
Computer Engineering from IIT Delhi. He had a brief stint at
Amazon before taking the entrepreneurial plunge with
Flipkart.
At Flipkart, Binny oversees all operational activities that come
into play from the time the customer places an order till the
time of delivery. This spans across divisions like warehousing,
logistics and customer support.
A big fan of Salman Rushdie as well as Stieg Larsson's
'Millennium' series, Binny is also passionate about soccer
PLAYER
7. Flipkart Story
Flipkart,was established by Sachin Bansal and Binny Bansal both
are alumni of Indian Institute of Technology Delhi and worked for
Amazon.com before quitting and founding their own company.
Initially they used word of mouth to popularise their company.
Within two years through word of mouth of their services, Flipkart
became one of the top 100 Indian sites and was credited for being
India's largest online bookseller with over 10 million titles on
offer.
Flipkart broke even in March 2010 and claims to have had at least
100% growth every quarter since its founding.
Flipkart employs over 3000 people.
8. Contd..
Also it had experienced 2 million unit sales and 4
million unique vistors per month with sales growing at
25% per month, eyeing a $50 million run rate as
reported by TechCrunch.
It’s been about a year since Flipkart started moving
from being a pure bookstore to selling mobiles/DVDs
etc. Since then, Flipkart went for a major brand
makeover, making it look more ‘upmarket’.
There has been large newspaper ads, TVCs and a lot of
web ads.
10. Funding
Initially funded by the Bansals themselves with 4
Lakh(INR).
Flipkart has since then raised two rounds of funding
from venture capital funds Accel India (in 2009) and
Tiger Global Management (up to the tune of US$10
million) (in 2010).
Private equity firms Carlyle and General Atlantic are in
talks to jointly invest about $150 million to $200
million in Flipkart, according to sources.
11. Aquisitions
2010: “We Read”, a social book discovery tool.The
stated goal was to give Flipkart a social
recommendation platform for buyers to make informed
decisions based on recommendations from people
within their social network.
2011: Mime360, a digital content platform company.
2011: Acquired the rights to Chakpak’s digital catalogue
which includes 40,000 filmographies, 10,000 movies and
close to 50,000 ratings. Chakpak.com is a Bollywood
news site that offers updates, news, photos and videos.
13. Conclusion
. Flipkart, the first billion dollar Internet company
from India(going by 2015 estimates )is by far the
leading online store in the nation
Now that Amazon is reportedly entering India in early
2012, this news becomes even more significant,
considering that Amazon has previously, and
unsuccessfully, tried acquiring the company, with
Flipkart demanding a very high buyout price.
With online retail industry in India pegged to reach $1.5
billion (2015), sources suggest that e-commerce is just
hotting up in India and we may soon seen many more
Internet companies achieving similar success.
