Flipkart Success Journey: Flipkart is an electronic commerce website, which is touching a new dimension of success today. The headquarters of this company is located in the Karnataka. With the help of this website, many people have been buying and selling various types of items sitting at home.
Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal. In the immediate time, the company’s total value is $ 11.6 billion. The history behind its success is being described below.
History of Flipkart
Both Sachin Bansal and Binny Bansal have been studying from the Indian Institute of Technology (IIT) Delhi. After the end of education, he started working for a famous electronic commerce website Amazon. While reducing this company, they came up with the idea of setting up their own company and both of them resigned to the company in October 2007 and started their own company.
The company they first founded was Flipkart Online Service Private Limited. With the help of this service, he started the first bookselling business. At this time they were working for ‘Living Microsoft to Change the World’.
During the October-November 2011 year, he created two websites, named Mime360.com and chakpak.com. The company has done better with the help of these websites. During the year 2012, this company started a digital music store. The name of this musical store was ‘Flight Digital Music Store’. With the help of this music store, people could download music legally, but it was closed during the year 2013.
The biggest reason for the closure of this website was that many such websites had come to India very soon, which gave the free option to download songs. In such a situation, he did not want to buy music by paying any money.
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In the year 2014, Flipkart organized a ‘Big Billion Sell’. Flipkart received a lot of profit during the sale of this sell and the turnover of this business was $ 300 million.
Flipkart Economic History
At the beginning of this company, both of them spent about $ 6,200 to create a website alone. After this, with the help of his project, this company later received financial support from several companies. Later, Flipkart received $ 1 million from Excel India during 2009, $ 10 million from Tiger Global in 2010 and $ 20 million in 2011. In 2012,
Flipkart announced that he had received a total investment of $ 150 million from the Naspers Group and Iconic. Because of this, their business was running very well. Looking at their success, many other investors also attracted to this company. During the 10th of July 2013, they received a $ 200 million investment from all these investors.
In the year 2014, Flipkart only made a total of $ 6.5 billion in a 10-hour sale. The event was named ‘The Big Billion Day’. Flipkart described this sell as the largest seller of e-commerce. During December of this year, Flipkart announced that it is going to work together with a Singapore-based company. Through this partnership, Flipkart became a public company whose total budget was more than $ 700 million.
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By the time of August 2015, the company had a total of 16 investors and this company was about 3 billion.
Flipkart announced during April 10, 2017, that the company has a total of 1.4 billion dollars in total clearly. Again in August this year, Softbank Vision Fund invested $ 2.5 billion in this company.
The beginning of various products
Flipkart has become quite famous due to its commercial success. After this many big companies started to launch their new products at this site.
There was an agreement between Motorola and Flipkart in February 2014. Following this agreement, Flipkart started selling Moto-X smartphones from its website on March 19, 2014. On May 13, 2014, the company started selling Moto-E, a cheap phone from Motorola itself from its site.
On September 2, 2014, Flipkart started selling Xiaomi Redmi 1s smartphones. This phone was released in India in July 2014. During this sale, a total of 40,000 smartphones were sold in a few moments.
Flipkart launched the Yu Yureka 2 smartphone of Micromax in July 2017. At the time of this launch, the price of this mobile was just Rs 5,999. Apart from this, Flipkart also has its own mobile, smartphone, and tablet. Networking router etc.
Awards and Achievements of Flipkart
The award and achievements received by Flipkart are being described below:
Because of the success of Flipkart in April 2016, the name of the company’s owner Sachin Bansal and Binny Bansal came in the list of ‘100 Most Influential People’ in Times Magazine.
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In September 2015, both of them came in Forbes India Rich List released by Forbes. His name was 86th in this list. At this time the two owners had different $ 1.3 billion dollars.
Flipkart’s biggest dispute is to serve its service. Despite being a big company, this company continues to have technical difficulties, due to which it is also criticized by the people. This company also has a lot of criticism because of the price of the goods uploaded on Flipkart. Many times the price of goods is higher than the requirement so that the customer is very upset. Therefore, this company is criticized for its service and price.
Estimated profit of Flipkart
It is difficult not to mention the exact benefits of any company. We can only tell the estimated figure, which the company has achieved in the form of revenue.
- In 2008, around 40 million approx.
- In 2009, around 20 million approx.
- In 2010, around 75 million approx.
- From 2011, till March 31, 2012, 500 million is said to be around.
- In 2015, the company’s target was about 5000 crore.
- In 2016, the company’s target was about nearly 6000 crores.
- In 2017, the company’s target was about 7176 crores.
- In 2018, the company’s target was about 8771 crores.
The motion of Flipkart Success
Success and failure are two aspects of the same coin. Every person has to face both, in his life. At the time of failure, face it by stubbornness, in itself, to declare a great success of the future. Flipkart is exactly the same way. Its success is its own original mantra.
Providing Easy Service – Flipkart has given the benefits of very easy services to its customers from the outset. There is no problem in calling the accessories.
Easy website – Anyone with ease can easily access the website.
Best Services – The home has satisfied its customers by providing better services.
Many methods of payment – Cash on Delivery (COD) and facilitating the process of payment of all types of card facilitated payment.
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11 Interesting Facts about Flipkart:
Interesting Fact 1:
You might be surprised to know but before starting today’s Leading E-commerce Platform Flipkart, Sachin Bansal and Binny Bansal used to work at Amazon.com! And from Ideas to create their own Book Store right from Amazon.Com, they named it Flipkart and they left their job to start it!
Interesting Fact 2:
Flipkart launched the cash on delivery in the country in 2010, which made it quite famous, and thus won the Buyer’s Trust and then proved to be the best bet for the year 2010 Flipkart.
Interesting Fact 3:
Presently, Flipkart’s total share in the Indian E-commerce Market is around 45%, with the acquisition of Jabong and Myntra, its share has increased by 9% in the Indian E-commerce Market.
Interesting Fact 4:
The way it is growing, it seems that by 2019, the total share in the Indian E-commerce Market will be more than 53℅
Interesting Fact 5:
Flipkart App has been installed more than 100 million on the Play Store so far and it has more than 53 million people and its rating is also 4.4.
Interesting Fact 6:
More on Flipkart comes from Traffic Mobile Devices Total Traffic from Mobile Device comes in more than 54%, including its Android App Visits.
Interesting Fact 7:
The total number of Sellers on Flipkart is more than 1.5 lakh and on day-to-day, the number is increasing. This is Main Reason that Flipkart is Selling and Delivery in Easy Way so that more and more Sellers are selling it to its products. Are there
Interesting Fact 8:
Founders of Flipkart got their first funding from Accel Partners in 2009, and since then they have got funding of approximately 3 billion dollars, with a market valuation of around 19 billion till September 2017
Interesting Fact 9:
Flipkart’s 2015 Big Billion Day Sales was a huge success when he sold Merchandise for the US $ 200 million in three days, he broke his own record in 2016 when his total sales crossed 225 million US dollars in three days
Interesting Fact 10:
The total number of shoes sold on Big Billion Day Sales 2016 was more than the total number of shoes sold by all brands of India on the same day. If we look at other data, then Flipkart has sold 36 hours by the top Retailers across the country. Was more than TV Sets.
Interesting Fact 11:
Flipkart’s market share of more than 45% by 2017 is easily defeating competitors like Amazon and Snapdeal. In 2014, Flipkart Acquired Fashion E-Tailer Myntra for the US $ 300 million and then in Jabong for the US $ 70 million By buying also, the market had strengthened its stake.
Thanks for Reading our Story about Flipkart Success Journey. I hope you like this story and I wish this story help to you on your success journey. If you have known any other Interesting fact or something new about Flipkart than please comment below, and you have any doubt in this story than also comment below. I am trying to my best for giving an answer.