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.

June 16, 2011

Flipkart raises a $20,000,000 series C round from Tiger Global Management.

Funding rounds

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Investment
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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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Companies

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References

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