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==References==
==References==
{{Reflist|colwidth=45em}}
{{Reflist|colwidth=45em}}

19 India's-amazon-flipkart-expects-sales-to-surge-10-fold-this-year.http://www.businessweek.com/news/2011-11-23/.htm
==Further reading==
* [http://www.businessweek.com/news/2011-11-23/.htm India's Amazon, Flipkart expects sales to surge 10 fold this year]




Revision as of 13:31, 14 December 2011

Flipkart
IndustryOnline Retail
FoundedBangalore, India (September 2007 (2007-09))
FounderBinny Bansal Edit this on Wikidata
Headquarters
Bangalore
,
India
Number of locations
8 warehouses , offices and delivery centers (2011) [1]
Area served
India
Key people
Sachin Bansal and Binny Bansal
RevenueIncrease ₹ 75 Crore (FY 2010-11) [2]
Number of employees
4500 (December 2011)[1]
SubsidiariesWeRead, Mime360,
Websitehttp://www.flipkart.com

Flipkart is an Indian online shopping company headquartered in Bangalore, India,which was established in 2007. It is among India’s largest online retail businesses.

History

Flipkart was established in 2007 by Sachin Bansal and Binny Bansal, both alumni of Indian Institute of Technology Delhi who worked for Amazon.com before quitting and founding their own company. Initially they used word of mouth to popularise their company. A few months later, the company sold its first book on flipkart.com - John Woods' Leaving Microsoft to Change the World.[3] Within two years through word of mouth of their services, Flipkart became one of the top 100 Indian sites[citation needed] and was credited for being India's largest online bookseller[3] with over 11 million titles on offer. Flipkart broke even in March 2010 and claims to have had at least 100% growth every quarter since its founding.[citation needed] The store started with selling books and in 2010 branched out to selling CDs, DVDs, Mobile phones & Accessories, Cameras, Computers,Pens & Office supplies, other electronic items i.e Home appliances, Kitchen appliances, Personal care, Health care & many more electronic gadgets. [4] As of today, Flipkart employs over 4000 people.[5]

Funding

Initially funded by the Bansals themselves with ₹ 4 Lakh,[3][6] Flipkart has since then raised two rounds of funding from venture capital funds Accel India (in 2009)[7] and Tiger Global Management (up to the tune of US$10 million) (in 2010).[8][9][10]

Acquisitions

  • 2010: WeRead, a social book discovery tool.[11] 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.[12]
  • 2011: Chakpak.com is a Bollywood news site that offers updates, news, photos and videos. Flipkart acquired the rights to Chakpak’s digital catalogue which includes 40,000 filmographies, 10,000 movies and close to 50,000 ratings. Flipkart has categorically said that it will not be involved with the original site and will not use the brand name. [13]

Business Results

Flipkart's reported sales were ₹ 4 Crores (40 Million) in FY 2008-09,[14][15] ₹ 20 Crores in FY 2009-10[16] and ₹ 75 Crores for FY 2010-11.[2] In this FY 2011-12 Flipkart is set to cross the ₹ 500 Crores ($100 million) mark as Internet usage in the country increases and people get accustomed to making purchases online.[17] On average, Flipkart sells nearly 20 products per minute[18] and is aiming at generating a revenue of ₹ 5000 Crores ($1 billion ) by 2015.[19]

Locations

The company's headquarters is located in Bangalore's Koramangala neighborhood. Flipkart has offices, warehouses and customer service centers across India. Warehouses are located in the following cities, often near airports.

See also

References

  1. ^ a b Flipkart About Us http://timesofindia.indiatimes.com/tech/news/internet/How-Flipkart-broke-Indias-online-shopping-inertia/articleshow/11043949.cms About Us. Retrieved 9th December 2011. {{cite news}}: Check |url= value (help); Check date values in: |accessdate= (help); Missing or empty |title= (help)
  2. ^ a b Rahul Jayaram. "Binny Bansal - The flip side of an e-venture". Mint (newspaper). Retrieved May 30, 2011.
  3. ^ a b c Archana Rai (30 June 2010). "Flipkart: Country's largest online bookstore". The Economic Times. Retrieved 19 August 2010.
  4. ^ Geetika Rustagi (4 August 2010). "Now order your next mobile on Flipkart". Livemint. Retrieved 19 August 2010.
  5. ^ Sengupta, Anuradha. "Flipkart On The Surge In Online Shopping". http://www.youtube.com/watch?v=tXwzTzZdGNY. CNBC TV18. Retrieved 10 September 2011. {{cite web}}: External link in |work= (help)
  6. ^ Chirag Chamoli. "Interview With Binny Bansal Of Flipkart.Com". iamstarting.com. Retrieved 2011-06-15.
  7. ^ Sinha. "Accel India Invests in Flipkart". pluggd.in. Retrieved 25 August 2011.
  8. ^ Madhav A. Chanchani (15 June 2010). "Flipkart Raises Up To US$10M From Tiger Global". VC Circle. Retrieved 19 August 2010.
  9. ^ Sudipta Datta (7 February 2010). "A Tale of Two Book Fairs". Financial Express. Retrieved 19 August 2010. {{cite news}}: Unknown parameter |coauthors= ignored (|author= suggested) (help)
  10. ^ "Inlogistics: India's first private train cargo operator". CNBC-TV18. 18 March 2010. Retrieved 19 August 2010.
  11. ^ "Flipkart Buys Social Book Discovery Tool WeRead". VCCircle. Retrieved 2011-06-15.
  12. ^ Nikhil Pahwa. "Flipkart Acquires Mime360; To Launch Digital Distribution Of Music, E-books, Games". medianama.com. Retrieved 2011-10-14.
  13. ^ "Flipkart Acquires Digital Content From Bollywood News Site Chakpak". 23 November 2011. Retrieved 1 December 2011.
  14. ^ "Cash on delivery". Business Standard. 19 July 2010. Retrieved 19 August 2010.
  15. ^ Dua, Aarti (28 February 2010). "A winning chapter". The Daily Telegraph. Retrieved 19 August 2010.
  16. ^ "Bibliofile:A Garage Takes Off". Outlook. 22 March 2010. Retrieved 19 August 2010.
  17. ^ "India's-amazon-flipkart-expects-sales-to-surge-10-fold-this-year".
  18. ^ Nikhil Menon. "e-Commerce: Can the dotcom majors cope with their rising expectations?". The Economic Times.
  19. ^ "Flipkart gets jump on Amazon in India's e-shopping business". The Financial Express.

Further reading

source: https://en.wikipedia.org/wiki/Special%3ADiff%2F465812311

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