Flipkart is an E-commerce company Information
Incorporation year : 2007
Headquarter : Singapore (legal domicile)
Bengaluru, Karnataka, India(Operational Headquarter)
Founders : Sachin Bansal and Binny Bansal
Present Head (CEO) : Kalyan Krishnamurthy
Chief Financial Officer : Sriram Venkataraman
Company Introduction
Flipkart is an E-commerce company, selling almost everything retail through its website and mobile
applications. It was founded by Sachin Bansal and Binny Bansal in 2007. The company initially focused on
book sales, before expanding into other product categories such as consumer electronics, fashion, home
essentials & groceries, and lifestyle products.
The service competes primarily with Amazon's Indian subsidiary. As of 2017, Flipkart held a 39.5% market
share of India's e-commerce industry. Flipkart is significantly dominant in the online fashion retail (which was
achieved by its acquisition of Myntra), and was described as being "neck and neck" with Amazon in the sale of
electronics and mobile phones. Flipkart also owns PhonePe, a mobile payments service based on the Unified
Payments Interface (UPI).
In August 2018, U.S.-based retail chain Walmart acquired an 81% controlling stake in Flipkart for US$16 billion.
Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal, who were both alumni of the Indian
Institute of Technology Delhi and formerly worked for Amazon. The company initially focused on online book
sales with country-wide shipping. Following its launch, Flipkart slowly grew in prominence; by 2008, it was
receiving 100 orders per day.
It expanded very quickly over the years acquiring a lot of businesses and finally sold off major stake to Walmart
in 2018.
Philosophy
Vision: To become Amazon of India
Mission: Providing delightful customer experience
Portfolio of Company; Products and Services it offers
The catalogue of products and services on offer on the website and mobile application range from electronics
to appliances, fashion for men, women and kids, ticket booking, flights booking, home appliances, furniture,
books, sports equipment, etc.
Flipkart and its Subsidiaries:
♦ Myntra, for fashion
♦ Jabong, for fashion
♦ PhonePe, online payment channel
♦ Ekart, logistics and retail
♦ Jeeves
♦ 2GUD
Business in News
♦ Sachin Bansal was awarded Entrepreneur of the Year 2012–2013 from The Economic Times, a leading
Indian economic daily newspaper.
♦ In September 2015, the two founders entered Forbes India Rich List debuting at the 86th position with
a net worth of $1.3 billion each.
♦ In April 2016, Sachin Bansal and Binny Bansal were named to Time magazine's list of The 100 Most
Influential People.
♦ According to a report in November 2014, Flipkart was operating through a complex business structure
which included nine firms, some registered in Singapore and some in India. In 2012, Flipkart co-
founders sold WS Retail to a consortium of investors led by Rajeev Kuchhal
Source : wikipedia.org and www.flipkart.com