Flipkart

Flipkart

Flipkart is an indian electronic commerce company founded by Sachin Bansal, Binny Bansal and Binny Bansal.

Flipkart is an e-commerce platform. The company was established in 2007 by Binny Bansal and Sachin Bansal. It is headquartered in Bengaluru, Karnataka, India. In August 2018, Flipkart was acquired by Walmart for $16 billion, giving the latter a 77% share of ownership over the company. Flipkart operates only in India.

History

Flipkart initially only sold books through the website in 2007. In 2010, the company starts selling products such as music, movies, and mobile phones. These categories later expanded into lifestyle and fashion products in 2012. Many of these product category expansions come from the acquisition of companies operating within these industries, such as Myntra, an online fashion retailer (Wikipedia). As of September 2019, Flipkart advertises that it offers more than 80 million products in 80 product categories, ranging from electronics to sports and music equipment.

Funding

Flipkart has managed to raise a total funding of $7.5 billion from 19 rounds of financing, with its most recently held one occurring in January 2019. This round was a corporate round, amassing $200.8 million. This marks Flipkart’s first funding round after being acquired by Walmart. e-Bay contributed capital during this round.

Timeline

January 6, 2020

Flipkart announces the launch of Visa Safe Click (VSC), powered by Visa.

VSC, a new payment solution available on the Flipkart platform, will enable the e-commerce platform to deploy India’s first in-app device-based network authentication solution.

August 1, 2019

Flipkart achieves 25 per cent reduction of single-use plastic through various initiatives.

May 2014

Flipkart acquires fashion e-commerce platform Myntra.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Flipkart funding round, August 2017
August 2017
SoftBank Group
Flipkart funding round, March 2017
1,000,000,000
March 2017
EBay
Flipkart Series C round
Series C round
20,000,000
June 16, 2011
Tiger Global Management
Flipkart funding round, June 2010
10,000,000
June 16, 2010
4 Results
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People

Name
Role
LinkedIn

Abhishek Sharma

Employee

Allan Kaplan

Investor

Ankit Gupta

Employee

Ankit Mehta

Employee

Binny Bansal

Founder

Dave Gilboa

Investor

David Popowitz

Investor

Debleena Bose

Employee

Diego Berdakin

Investor

Gaurav Lochan

Employee

Julia Popowitz

Investor

Kevin Colleran

Investor

Kshitij Bhardwaj

Employee

Lee Fixel

Investor

Madan Devaiah

Employee

Manisha S

Employee

Manoj Agarwal

Employee

Nat Turner

Investor

Nuttaporn Voonglinhom

Employee

Pramod Sarja

Employee

Pranav Deepak Agrawal

Employee

Pratyush Verma

Employee

Prayank Swaroop

Investor

Rahi Jain

Employee

Rohit Venugopal

Employee

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Further reading

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Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Peerzada Abrar
June 27, 2020
@bsindia
Uttar Pradesh, Maharashtra, West Bengal, Delhi and Tamil Nadu are the top states where local MSMEs have shown maximum interest in taking their businesses online
BS Web Team
May 22, 2020
@bsindia
The Realme Narzo 10A will be available in sole 3GB RAM + 32GB internal storage variant, priced at Rs 8,499
Jagmeet Singh
May 22, 2020
NDTV Gadgets 360
Realme Narzo 10A price is set at Rs. 8,499 for the sole, 3GB RAM + 32GB storage variant. The phone will be available through Flipkart and Realme website.
Prabhakar Thakur
May 20, 2020
NDTV Gadgets 360
iPhone SE (2020), Apple's latest smartphone, is going on sale in India today at 12pm (noon). Buyers will be able to place their orders online on Flipkart for the phone at a starting price of Rs. 42,500.
Peerzada Abrar
May 19, 2020
@bsindia
These restrctions, which were imposed for some part of Q1FY21, have negatively affected growth
Vineet Washington
May 18, 2020
NDTV Gadgets 360
Moto G8 Power Lite will launch in India on May 21 according to Flipkart. Pricing and availability details have not been shared as of yet.
Peerzada Abrar
May 11, 2020
@bsindia
Move aimed at providing their financial and healthcare support during time of pandemic
Peerzada Abrar & Neha Alawadhi
May 4, 2020
@bsindia
At the e-commerce giant Flipkart, the teams first prioritised the areas and regions as per essential delivery guidelines by the government and then scaled it across cities
Manish Singh
May 4, 2020
TechCrunch
E-commerce firms Amazon and Walmart's Flipkart, and ride-hailing giants Ola and Uber are partially resuming their services in India after Prime Minister Narendra Modi's government eased some restrictions late last week to revive economic activity that's been stalled since the stringent stay-at-home orders were imposed across the nation in late March. The companies said in [...]
May 2, 2020
Livemint
The Centre has decided to allow e-commerce websites like Amazon and Flipkart to start delivering non-essential items.The delivery will be permitted only in certain areas, here is a list
Peerzada Abrar
April 29, 2020
@bsindia
Meru to deliver essential goods to Flipkart customers in Ozone sanitized cabs across Delhi NCR, Bengaluru and Hyderabad
Peerzada Abrar and Neha Alawadhi
April 22, 2020
@bsindia
Reliance Jio-Facebook deal is an attempt to marry e-commerce with social media, say analysts.
April 20, 2020
WebWire
Walmart Inc., Flipkart and the Walmart Foundation are supporting India's COVID-19 response with a combined effort that will contribute needed personal protective equipment (PPE) for healthcare workers and financial support for organizations providing essential relief materials to farmers and small businesses. Walmart Inc. and Flipkart will spend INR 383 million to bring in-kind donations into India to help with the front-line response efforts. The companies will focus on providing PPE, su...
Tasneem Akolawala
April 18, 2020
NDTV Gadgets 360
Flipkart has a new banner on its app confirming that they are now accepting smartphone orders. Even though a user can now purchase smartphones, delivery will only begin from April 20.
Peerzada Abrar
April 17, 2020
@bsindia
Amazon has already announced waiver of commissions for small sellers by almost half, larger rival Flipkart said that it is taking proactive steps to settle the payments related to cancelled orders
April 15, 2020
91mobiles.com
With Amazon, Flipkart deliveries starting again, smartphone brands can be expected to soon unveil products that were slated to launch before the lockdown.
Samreen Ahmad & Peerzada Abrar
April 15, 2020
@bsindia
While Amazon India is learnt to have deferred its summer sale until further notice, sources said Flipkart doesnt have clarity on the sale event yet.
Peerzada Abrar
April 11, 2020
@bsindia
Distributors of the Tata group firm will list themselves on Flipkart as marketplace sellers. Consumers can buy different combo packs using Flipkart platform
Aditya Kalra
April 7, 2020
IN
An Indian retail group has asked a court to allow the restart of an antitrust investigation into Amazon.com Inc and a Walmart unit that is on hold following a legal challenge by the companies, a court filing seen by Reuters showed.
Manish Singh
April 6, 2020
TechCrunch
Uber is resuming some services in India as it looks to help other firms deliver grocery and other essential items in select parts of the country, nearly two weeks after New Delhi ordered a three-week lockdown for its 1.3 billion people. The American firm said on Monday that it has partnered with Flipkart to deliver [...]
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References

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