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outreach@flipkart .com – Indian e-commerce startup Flipkart was established fifteen years ago. With its current headquarters in Bengaluru, the company also operates several subsidiaries, such as PhonePe, Ekart, and Myntra. It started selling books online before branching into consumer electronics, household necessities, clothing, groceries, fashion, and lifestyle items.
The organization outreach@flipkart .com provides a work environment that makes people feel like they belong and helps them develop their skill set. They think that as a team, we can innovate by working together.
Past Developments of Flipkart
Sachin and Binny Bansal, two friends, founded Flipkart. In 2007, Flipkart was established in Bangalore, India. It’s interesting to note that they have the same last name despite not being related. India’s Chandigarh was the birthplace of Sachin Bansal in 1981. After earning a degree in computer engineering from the Indian Institute of Technology (IIT) Delhi in 2005, Sachin got to know Binny Bansal, the other Flipkart founder. Sachin started working at Techspan after graduating and soon became a Senior Software Engineer at Amazon Web Services in 2006.
In contrast, Binny Bansal was born in Chandigarh, India 1982. In addition to Sachin, Binny earned a Computer Engineering degree from IIT in 2005. That was the start of Binny and Sachin’s friendship. Binny started working at Sarnoff Corporation after graduating and at Amazon Web Services in 2007.
The Emergence of Flipkart
To grow their online music streaming services business, Flipkart introduced Flyte, their own music streaming service, in 2012. However, the service was dropped the following year because it was not drawing in enough users. Furthering its business growth, the company paid approximately Rs 12.5 billion to acquire Letsbuy, an online electronics retailer, in the same year.
That year, Flipkart held the top spot among India’s Top 20 e-retailers. On their website, the company claims that in 2013, they sold 100,000 books in a single day. Alongside local rival Snapdeal, Amazon’s e-commerce behemoth debuted in the Indian market that year. The business introduced the PayZippy payment gateway system that same year but was shut down the following year. Flipkart – Name, Tagline, and Logo
Sachin and Binny Bansal, the company’s founders, desired a brand that would transcend the world of books.
In addition, they desired a name for their business that would work for various product categories that might be added to in the future.
Flipkart is an acronym for “flipping items into a shopping cart.”
Flipkart changed its logo twice. The company has gone through several taglines at different points in time. Several of the well-liked slogans are:
- Ab Har Wish Hogi Poori
- Abhi Nahi To Kabhi Nahi
- If it’s trendy, it is on Flipkart
- Be Trendy, Always
- Itne mein, Itnaaaa Milega
- Shopping ka naya address
- Ab Mehengaayi Giregi
Bengaluru, Karnataka, India
- Kalyan Krishnamurthy – CEO
- Sachin Bansal & Binny Bansal – Founders
Flipkart’s logo is a single blue letter “f” on a yellow shopping bag. The letter “f” has speed lines following it. It is intended to signify prompt and pleasant service. The colours selected stand for creativity, vibrancy, and inclusivity. ‘Flipping things into kart’ is what the name Flipkart itself means. The company has changed its logo five or six times so far.
US $6.1 billion (FY 2019)
Number of Employees:
- In 2014, Flipkart achieved a $1.9 billion Gross Merchandise Value (GMV), making it the first Indian online retailer to do so.
- The Economic Times named co-founder Sachin Bansal “Entrepreneur of the Year 2012–2013.”
- In 2016, the Flipkart app became the first mobile application in India to reach 50 million users.
- The Straits Times of Singapore named the founders, Sachin and Binny Bansal, “Asian of the Year” in 2016.
The main competitors of Flipkart India are Snapdeal, a local rival, and Amazon’s Indian subsidiary. Among the leaders in e-commerce, Flipkart demonstrated tenacity in FY23 by securing a sizable 48% market share and successfully defending its position.
Flipkart and Amazon, selling electronics and smartphones, were compared as being “neck and neck.” With the acquisition of Myntra, Flipkart has solidified its position as the industry leader in the sale of clothing.
Some of Flipkart’s rivals include the following:
Now, Where is Flipkart?
As an online retailer in India in 2018, Flipkart held the top spot with a 31.9% market share, followed by Amazon with a 31.2% share. In addition, Flipkart’s market share rose to 38.3% due to the combined sales from Myntra and Jabong. For $16 billion in August of that same year, the US retail behemoth Walmart acquired a 77% stake in Flipkart, raising its valuation to over $20 billion.
Sachin Bansal, the co-founder of Flipkart, along with Softbank, eBay, and Naspers, sold Walmart their whole ownership during the acquisition. Following the acquisition, the CEO of Walmart eCommerce US, Marc Lore, became the company’s primary point of contact. The company made Rs 217 billion in revenue at the end of the year.
Flipkart launched “Flipkart Video,” an in-app streaming service, in 2019 to take on Amazon Prime, the latter’s premium video streaming service. On October 19 of that year, Back Benchers, the service’s debut original program, debuted. Although the company’s revenue at the end of the year exceeded Rs 436.15 billion, a Business Today article claims that the company’s net loss for the year was $38.35 billion.
outreach@flipkart .com Future Objectives
Even though Flipkart’s founders, Sachin and Binny Bansal, are no longer employed by the company, it still thrives despite all the difficulties. One of the most well-known names in the Indian startup scene is Flipkart.
One of Flipkart’s main advantages is that it has never been scared to take chances. It has changed significantly over the past few years, going from books to electronics, household goods, and everything in between. It will keep growing regardless of changes in shareholders or rivals.
Walmart’s significant investment in Flipkart will improve the latter’s customer base and market share. Better products, increased product variety, improved eCommerce, and enhanced integrations with small businesses are just a few of the innovations we can anticipate from Flipkart shortly.
The Final Word
outreach@flipkart .com – Flipkart has been able to maintain yearly revenue growth since its founding. The growing middle class and growing number of internet users in India present tremendous opportunities for e-commerce. It is realized that Walmart made the right choice in investing in Flipkart. But Amazon, a top-tier worldwide e-commerce behemoth, has been giving Flipkart a severe run for its money. There isn’t much of a market share difference between the two companies. Flipkart has steadily increased its market share and established its reputation since joining the Indian market in 2013. In addition, Flipkart dominates the Indian fashion, lifestyle, and low-cost smartphone markets. Will the business be able to continue competing with Amazon in the same way going forward?
Frequently Asked Questions:
Is Flipkart India’s first online retailer?
Although it wasn’t the first online retailer in India, Flipkart was among the industry’s pioneers. It was India’s first online retailer, Fabmart.com, which K Vaitheeswaran launched in 1999.
Who is Flipkart’s Owner?
Flipkart’s parent company is Walmart, a multinational retail corporation based in the United States. In 2007, Binny and Sachin Bansal founded Flipkart.com.
Who are Flipkart’s Founders?
In May 2007, Binny and Sachin Bansal established Flipkart in Bengaluru, India.
What name is the CEO of Flipkart?
The Chief Executive Officer of Flipkart is Kalyan Krishnamurthy.
Which nation is Flipkart based in?
The founders of Flipkart, Binny and Sachin Bansal, are based in Bengaluru, India.
When did Flipkart get its start?
In October of 2007, Binny and Sachin Bansal founded Flipkart.
Is Flipkart a business that sells products?
Flipkart is now a product and services-based company despite having previously only operated as a product-based business.
What is Flipkart’s tagline?
Flipkart’s tagline is “Ab Har Wish Hogi Poori”.
Where is Flipkart’s headquarters located?
Bangalore, India, is home to Flipkart’s corporate office.
What goods and services does Flipkart offer?
Flipkart was an online retailer selling various goods, including groceries, electronics, household necessities, and more. But in an attempt to compete with Urban Company, Flipkart has already begun to enter the at-home services market with the recent addition of cleaning and repair services.
How Can I Get in Touch?
Contact outreach@flipkart .com