Company:Flipkart

From HandWiki
Short description: Indian electronic commerce company


Flipkart Pvt. Ltd.
Flipkart logo.svg
Flipkart Logo
screenshot
Flipkart Desktop homescreen
Type of site
E-commerce
Available inEnglish
Founded2007; 17 years ago (2007)
HeadquartersBengaluru, India
Area servedIndia
Founder(s)Sachin Bansal
Binny Bansal
Key peopleKalyan Krishnamurthy (CEO)[1]
ServicesOnline shopping
RevenueIncrease ₹199 billion (US$2.8 billion) (2017)[2]
Employees30,000 (2016)[3]
SubsidiariesMyntra, Jabong.com, PhonePe, Ekart, Jeeves, 2GUD
Websitewww.flipkart.com
Alexa rankIncrease 156 (Global, ((As of June 2018))[4]
Increase 9 (India, (As of June 2018))[4]
CommercialYes
RegistrationRequired
Current statusOnline

Flipkart Pvt Ltd. is an Indian electronic commerce company based in Bengaluru, India. Founded by Sachin Bansal and Binny Bansal (senior-junior at Indian Institute of Technology Delhi & colleagues at Amazon)[5] in 2007, the company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products.

The service competes primarily with Amazon's Indian subsidiary, and the domestic rival Snapdeal.[6][7] As of 2017, Flipkart held a 39.5% market share of India's e-commerce industry.[8] Flipkart is significantly dominant in the sale of apparel (a position that was bolstered by its acquisitions of Myntra and Jabong.com), and was described as being "neck and neck" with Amazon in the sale of electronics and mobile phones.[9] Flipkart also owns PhonePe, a mobile payments service based on the Unified Payments Interface (UPI).

In May 2018, U.S.-based retail chain Walmart announced its intent to acquire a 77% controlling stake in Flipkart for $16 billion United States dollar , subject to regulatory approval. Completion of the deal was announced on August 18, 2018.[10]

History

Flipkart logo used from 2007 to 2015

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.[11][12] 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.[13] In 2010, Flipkart acquired the Bangalore-based social book discovery service weRead from Lulu.com.[14]

In late 2011, Flipkart made several acquisitions relating to digital distribution, including Mime360.com[15] and the digital content library of Bollywood portal Chakpak.[16]

In February 2012, the company unveiled its DRM-free online music store Flyte. However, the service was unsuccessful due to competition from free streaming sites, and shut down in June 2013.[17][18][19][20]

In May 2012, Flipkart acquired Letsbuy, an online electronics retailer.[21] In May 2014, Flipkart acquired Myntra, an online fashion retailer, for ₹20 billion (US$280 million).[22] Myntra continues to operate alongside Flipkart as a standalone subsidiary, focusing on an upscale, "fashion-conscious" market (while Flipkart itself focuses on the mainstream market and major international brands).[23]

In February 2014, Flipkart partnered with Motorola Mobility to be the exclusive Indian retailer of its Moto G smartphone.[24] Motorola also partnered with Flipkart on the Moto E—a phone targeted primarily towards emerging markets such as India. High demand for the phone caused the Flipkart website to crash following its midnight launch on 14 May.[25] Flipkart subsequently held exclusive Indian launches for other smartphones, including the Xiaomi Mi3 in July 2014 (whose initial release of 10,000 devices sold out in around 5 seconds),[26] the Redmi 1S and Redmi Note in late-2014 (which saw similarly accelerated sellouts),[27][28][29][30] and Micromax's Yu Yunique 2 in 2017.[31]

On 6 October 2014, in honour of the company's anniversary and the Diwali season,[32] Flipkart held a major sale across the service that it promoted as "Big Billion Day". The event generated a surge of traffic, selling US$100 million worth of goods in 10 hours. The event received criticism via social media over technical issues the site experienced during the event, as well as stock shortages.[33][34][35][36]

In March 2015, Flipkart blocked access to its website on mobile devices, and began requiring that users download the site's mobile app instead. The following month, Myntra went further and discontinued its website on all platforms, in favour of operating exclusively through its app. The "app-only" model, however, proved to be unsuccessful for Myntra (reducing sales by 10%), and its main website was reinstated in February 2016. The experiment with Myntra led to suggestions that Flipkart itself would perform a similar move, but this did not occur. In November 2015, Flipkart launched a new mobile website branded as "Flipkart Lite", which provides an experience inspired by Flipkart's app that runs within smartphone web browsers.[37][38][39][40][41]

In April 2015, Flipkart acquired Appiterate, a Delhi-based mobile marketing automation firm. Flipkart stated that it would use its technology to enhance its mobile services.[42] In October 2015, Flipkart reprised its Big Billion Day event, except as a multi-day event that would be exclusive to the Flipkart mobile app. Flipkart also stated that it had bolstered its supply chain and introduced more fulfilment centres in order to meet customer demand.[43] Flipkart achieved a gross merchandise volume of US$300 million during the event, with the largest volumes coming from fashion sales, and the largest value coming from mobiles.[44]

In December 2015, Flipkart purchased a minority stake in the digital mapping provider MapmyIndia. The company stated that it would licence its data to help improve delivery logistics.[45] In 2016, Flipkart acquired the online fashion retailer Jabong.com from Rocket Internet for US$70 million, as well as the UPI mobile payments startup PhonePe.[46][47] In January 2017, Flipkart made a US$2 million investment in Tinystep, a parenting information startup.[48]

In April 2017, eBay announced that it would sell its Indian subsidiary eBay.in to Flipkart and make a US$500 million cash investment in the company. eBay promoted that the partnership would eventually allow Flipkart to access eBay's network of international vendors, and vice versa, but these plans never actually came to fruition.[49][50] In July 2017, Flipkart made an offer to acquire its main domestic competitor, Snapdeal, for around US$700–800 million. It was rejected by the company, which was seeking at least US$1 billion.[51]

Flipkart held a 51% share of all Indian smartphone shipments in 2017, overtaking Amazon India (33%).[52] Flipkart sold 1.3 million phones in 20 hours on 21 September alone for its Big Billion Days promotion, doubling the number sold on the first day of the event in 2016 (where it sold a total of 2.5 million phones in five days).[53]

Acquisition by Walmart

On 4 May 2018, it was reported that the US retail chain Walmart had won a bidding war with Amazon to acquire a majority stake in Flipkart for US$15 billion.[54][55] On 9 May 2018, Walmart officially announced its intent to acquire a 77% controlling stake in Flipkart for US$16 billion, subject to regulatory approval.[56] Following the proposed purchase, Flipkart founder Sachin Bansal will leave the company, while the remaining management will report to Marc Lore, CEO of Walmart eCommerce US.[57] Walmart president Doug McMillon cited the "attractiveness" of the market, explaining that their purchase "is an opportunity to partner with the company that is leading transformation of eCommerce in the market".[58][59] Walmart expects the acquisition to be completed by the end of 2018.[60] Indian traders protested against the deal, considering the deal a threat to local store owners.[61]

In a filing with the U.S. Securities and Exchange Commission on 11 May 2018, Walmart stated that a condition of the deal prescribed the possibility that Flipkart's current minority shareholders "may require Flipkart to effect an initial public offering following the fourth anniversary of closing of the Transactions at a valuation no less than that paid by Walmart".[62][63]

Following the announcement of Walmart's deal, eBay announced that it would sell its stake in Flipkart back to the company for approximately US$1.1 billion, and re-launch its own Indian operations. The company stated that "there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India's diverse, domestic market."[49] Softbank Group also sold its entire 20% stake to Walmart, without disclosing terms of the sale.[64]

Business structure

In a report dated 25 November 2014, a leading media outlet reported that Flipkart were 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.[65]

Funding

Initially, the Bansals spent ₹400,000 (US$5,600) for making the website to set up the business.[66] Flipkart later raised funding from venture capital funds Accel India (US$1 million in 2009)[67][68][69] and Tiger Global (US$10 million in 2010 and US$20 million in June 2011).[70][71][72] On 24 August 2012, Flipkart announced the completion of its 4th round of US$150 million funding from MIH (part of Naspers Group) and ICONIQ Capital. The company announced, on 10 July 2013, that it has raised an additional US$200 million from existing investors including Tiger Global, Naspers, Accel Partners and Iconiq Capital.[73]

Flipkart's reported sales were ₹40 million (US$560,000) in FY 2008–2009,[74][75] ₹200 million (US$2.8 million) in FY 2009–2010[76] and ₹750 million (US$11 million) for FY 2010–2011.[77] In FY 2011–2012, Flipkart is set to cross the ₹5 billion (US$70 million) mark as Internet usage in the country increases and people get accustomed to making purchases online.[78] Flipkart projects its sales to reach ₹10 billion (US$140 million) by year 2014. On average, Flipkart sells nearly 10 products per minute[79] and is aiming at generating a revenue of ₹50 billion (US$700 million) by 2015.[80]

On November 2012, the Enforcement Directorate began investigating Flipkart for alleged violations of foreign direct investment regulations of the Foreign Exchange Management Act, 1999.[81][82]

Flipkart reported a loss of ₹2.81 billion (US$39 million) for the FY 2012–13.[83] In July 2013, Flipkart raised $160 million from private equity investors.[84]

In October 2013, it was reported that Flipkart had raised an additional US$160 million from new investors Dragoneer Investment Group, Morgan Stanley Wealth Management, Sofina SA, and Vulcan Inc., with participation from existing investor Tiger Global.[85][86][87]

On 26 May 2014, Flipkart announced that it had raised US$210 million from Yuri Milner’s DST Global and its existing investors Tiger Global, Naspers and Iconiq Capital.[88]

In early July 2014, it was also highly speculated that Flipkart was in negotiations to raise at least $500 million, for a likely listing in the US for 2016.[89]

On 29 July 2014, Flipkart announced that it raised US$1 billion[90] from Tiger Global Management LLC, Accel Partners, and Morgan Stanley Investment Management, and a new investor, Singapore sovereign-wealth fund GIC.[91]

In December 2014, after it received $700 million from another funding, Flipkart had a market cap of $11 billion.[92]

On 20 December 2014, Flipkart announced filing application with Singapore-based companies' regulator ACRA to become a public company after raising $700 million for long term strategic investments in India following which its number of investors exceeded 50. The $700 million fund raised by Flipkart added new investors—Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates and Qatar Investment Authority—on company's board. Its existing investors DST Global, GIC, ICONIQ Capital and Tiger Global also participated in this latest financing round.[93] As of May 2015, Flipkart had raised $550 million from some of its existing investors, in a deal that raised its total valuation to $15 billion.[94]

By August 2015, after raising another US$700 million, Flipkart had raised a total of $3 billion, after over 12 rounds and 16 investors.[95] In April 2017, Flipkart underwent another round of funding, with $1.4 billion at a valuation of $11.6 billion, including eBay, Microsoft, and Tencent.[96] On 10 August 2017, Softbank Vision Fund invested another US$2.5 billion in Flipkart.[97]

On 19 Sep, 2018, Flipkart Marketplace Singapore infused INR 3,463 crore into the Indian entity Flipkart Internet. The transaction was done in two tranches according to the regulatory filings.[98]

Regulatory action and lawsuits

In 2016, the Government of India informed the Indian Parliament that it had asked the Enforcement Directorate to investigate Flipkart Online Services. In August 2014, the Enforcement Directorate claimed that it had found Flipkart to be in violation of the Foreign Exchange Management Act.[99]

On 30 November 2012, Flipkart's offices were raided by the Enforcement Directorate. Documents and computer hard drives were seized by the regulatory agency.[100]

Delhi High Court observed violation of foreign investment regulations by E-Commerce firms including Flipkart.[101]

In January 2016, a public interest litigation came up for hearing which alleges Flipkart of contravention of foreign investment norms. The court asked the Reserve Bank of India to provide the latest circular on foreign investment policy.[102]

In January 2016, the Department of Industrial Policy and Promotion (DIPP) clarified that it does not recognise the marketplace model of online retail.[103]

In February 2016, Health Minister, J P Nadda, informed that the Maharashtra FDA had taken action against Flipkart, among others, for selling drugs without valid license.[104]

House brands

Flipkart maintains several house brands, including Citron (home appliances) and Digiflip (formerly for electronics and accessories).[105] In 2017, Flipkart launched additional brands, including Billion (smartphones),[106] Smartbuy (electronics accessories, effectively replacing Digiflip),[107] and MarQ (for large appliances, although its launch was faced with a trademark dispute with an existing company, Marc Enterprises).[108]

Criticism and Selling counterfeit items

On 13 September 2014, a Flipkart delivery boy allegedly molested a housemaid in Hyderabad.[109] The house maid's employer has been fighting against Flipkart for justice on this issue, and also for making offline delivery services safe.[110]

On 6 October 2014 Flipkart launched a promotion called 'Big Billion Day' with the intention to increase the popularity of their website by targeting a billion sales in 1 day. This, even though Flipkart achieved the target, led to public outcry and widespread criticism among consumers, competitors and partners, heavily damaging its reputation. Many users could not place orders because of high server load and errors which led to frustration among customers.[111] Many users who placed orders received emails stating that their orders were cancelled.[112] Most of the products were sold for less than their cost, and Flipkart was accused of anti-competitive behaviour. Major competitors filed complaints against Flipkart with the Commerce Ministry, claiming that selling products lower than cost is against the commerce policy of the country.[113] The Ministry said that they would formulate new trade rules for electronic retail after this incident.[114][115]

Flipkart was criticised on the subject of net neutrality after their announced partnership with Airtel to use the Airtel Zero platform which would have made the Flipkart app free for Airtel Users. On 14 April 2015 Flipkart retracted its decision to use Airtel Zero platform.[116]

In 2015, around 400 delivery executives working with eKart, the logistics arm of Flipkart, went on strike to protest poor working conditions. Complaints included seven-day workweeks, extended hours, lack of clean toilets and medical assistance for bike riders involved in accidents.[117][118] In 2016, delivery executive Nanjunda Swamy was murdered by a customer who did not have money to pay for a product.[119] In response, Flipkart launched a safety initiative for named 'Project Nanjunda' , after the deceased executive. This included an SOS button in the mobile app (called the Nanjunda button) that could be used by field executives in cases of emergencies.[120]

Sellers on Flipkart have been facing several challenges while doing their business on its marketplace portal, to the extent that some of them had to quit the portal. Some of these challenges include its unfair policies for sellers, lack of a competent logistics service and customer returns that are purely as a result of consumer fraud.[121]

Awards and recognition

  • In April 2016, Sachin Bansal and Binny Bansal were named to Time (magazine) magazine's list of The 100 Most Influential People.[122]
  • 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.[123]
  • Sachin Bansal was awarded Entrepreneur of the Year 2012–2013 from The Economic Times, a leading Indian economic daily newspaper.[124]
  • Flipkart.com was honoured as the Young Turk of the Year at CNBC TV 18's "India Business Leader Awards 2012" (IBLA).[125]

See also

References

  1. ↑ "Kalyan Krishnamurthy to be Flipkart's new CEO; Sachin Bansal to remain group chairman". The Economic Times. 10 January 2017. https://economictimes.indiatimes.com/small-biz/startups/former-tiger-global-executive-kalyan-krishnamurthy-to-be-flipkarts-new-ceo/articleshow/56424429.cms. 
  2. ↑ "Flipkart losses swell 68% to Rs 8,771 crore in FY17". The Economic Times. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/flipkart-revenues-rise-29-losses-swell-68-in-fy17/articleshow/62761811.cms. Retrieved 3 February 2018. 
  3. ↑ "Flipkart to sack 800 more amidst gloomy biz outlook". The Hindu. 9 September 2016. http://www.thehindubusinessline.com/companies/flipkart-to-sack-800-more-amidst-gloomy-biz-outlook/article9091342.ece. 
  4. ↑ 4.0 4.1 "flipkart.com Site Overview". Alexa Internet. http://www.alexa.com/siteinfo/flipkart.com. Retrieved 3 February 2018. 
  5. ↑ "Flipkart co-founder likely to quit after Walmart takeover". The Times of India. 04/05/2018. https://timesofindia.indiatimes.com/people/flipkart-co-founder-likely-to-quit-after-walmart-takeover/articleshow/64022101.cms. 
  6. ↑ "Walmart Is Right on Flipkart Despite Investor Qualms" (in en). Bloomberg.com. 2018-05-09. https://www.bloomberg.com/view/articles/2018-05-09/walmart-s-flipkart-deal-is-right-move-despite-investor-qualms. 
  7. ↑ Punit, Itika Sharma. "Snapdeal may die a slow and painful death" (in en-US). Quartz. https://qz.com/704813/snapdeal-may-die-a-slow-and-painful-death-unless-it-gets-its-act-together/. 
  8. ↑ "This Is Why Amazon Hasn’t Beaten Flipkart In India Yet". Bloomberg Quint. https://www.bloombergquint.com/business/2018/03/23/this-is-why-amazon-hasnt-beaten-flipkart-in-india-yet#gs.KaQHHLs. Retrieved 23 March 2018. 
  9. ↑ Tandon, Suneera. "Why Walmart bought Flipkart, according to Walmart" (in en-US). Quartz. https://qz.com/1273463/heres-what-walmart-will-get-from-the-flipkart-deal/. 
  10. ↑ "Walmart completes deal to acquire 77% stake in Flipkart, to invest $2 billion - Times of India". https://timesofindia.indiatimes.com/business/india-business/walmart-completes-deal-to-acquire-77-stake-in-flipkart-to-invest-2-billion/articleshow/65454382.cms. Retrieved 18 August 2018. 
  11. ↑ "Flipkart goes for fashion branding". The Times of India. http://timesofindia.indiatimes.com/business/india-business/Flipkart-goes-for-fashion-branding/articleshow/19832631.cms. Retrieved 5 October 2013. 
  12. ↑ Geetika Rustagi (4 August 2010). "Now order your next mobile on Flipkart". Livemint. http://www.livemint.com/2010/08/04170204/Now-order-your-next-mobile-on.html. Retrieved 19 August 2010. 
  13. ↑ "Flipkart’s first customer almost didn’t get his book". The Times of India. https://timesofindia.indiatimes.com/companies/flipkarts-first-customer-almost-didnt-get-his-book/articleshow/59824976.cms. 
  14. ↑ "Flipkart Buys Social Book Discovery Tool WeRead" (in en-US). VCCircle. 2010-12-22. https://www.vccircle.com/flipkart-buys-social-book-discovery-tool-weread/. 
  15. ↑ Nikhil Pahwa. "Flipkart Acquires Mime360; To Launch Digital Distribution of Music, E-books, Games". medianama.com. http://www.medianama.com/2011/10/223-flipkart-mime360-digital-music-ebooks-games/. Retrieved 14 October 2011. 
  16. ↑ "Updated: Flipkart Acquires Bollywood Site Chakpak's Digital Catalogue; Inline With Digital Downloads?". MediaNama. 25 November 2011. https://www.medianama.com/2011/11/223-flipkart-acquires-bollywood-site-chakpak-inline-with-digital-downloads/. Retrieved 11 February 2018. 
  17. ↑ Lal, Abhinav (24 February 2012). "Flipkart to launch 'Flyte Digital Store' in March". Digit. India: 9.9 Media. http://www.thinkdigit.com/Internet/Flipkart-to-launch-Flyte-Digital-Store-in_8839.html. Retrieved 27 February 2012. 
  18. ↑ "Exclusive: Flipkart to Shutdown Flyte MP3 Store; To Exit Digital Music Business". NextBigWhat. http://www.nextbigwhat.com/flyte-mp3-shutdown-297/. Retrieved 29 May 2013. 
  19. ↑ "Flyte MP3 Store Shutting Down". ThinkDigit. http://www.thinkdigit.com/forum/technology-news/174319-flyte-mp3-store-shutting-down.html. Retrieved 29 May 2013. 
  20. ↑ "Why Flipkart Shut Down Flyte Music". Medianama. https://www.medianama.com/2013/05/223-why-flipkart-shut-flyte-music/. Retrieved 29 May 2013. 
  21. ↑ "Flipkart Buys Letsbuy in Cash-Equity Deal". Business Standard. 11 May 2012. http://www.business-standard.com/india/news/flipkart-buys-letsbuy-incash-equity-deal/464289//. Retrieved 9 February 2012. 
  22. ↑ "Big deal: Flipkart acquires online fashion retailer Myntra". The Indian Express. http://indianexpress.com/article/business/companies/flipkart-myntra-announce-merger/. Retrieved 22 May 2014. 
  23. ↑ Sen, Anirban (2018-01-09). "Flipkart fashion business catches up with Myntra". Livemint. https://www.livemint.com/Companies/crgAFNgipSWuf9reSeNDLJ/Flipkart-fashion-business-catches-up-with-Myntra.html. 
  24. ↑ "Launch: Flipkart brings Motorola’s ‘Moto G’ to India, prices it at Rs 12,499" (in en-US). The Indian Express. 2014-02-05. http://indianexpress.com/article/technology/mobile-tabs/launch-flipkart-brings-motorolas-moto-g-to-india-prices-it-at-rs-12499/. 
  25. ↑ Singhal, Nidhi (14 May 2014). "Flipkart server crashes as Motorola Moto E goes on sale". Business Today. http://businesstoday.intoday.in/story/flipkart-server-crashes-as-motorola-moto-e-goes-on-sale/1/206157.html. Retrieved Jun 10, 2014. 
  26. ↑ Aulakh, Gulveen (2014-07-30). "Xiaomi's Mi3 sold out in 5 seconds, says Flipkart". The Economic Times. https://economictimes.indiatimes.com/tech/hardware/xiaomis-mi3-sold-out-in-5-seconds-says-flipkart/articleshow/39250575.cms. 
  27. ↑ "40,000 Redmi 1S Smartphones Gone in 3.4 Seconds: Xiaomi". Gadgets.ndtv.com. http://gadgets.ndtv.com/mobiles/news/40000-redmi-1s-smartphones-gone-in-34-seconds-xiaomi-592701. Retrieved 18 February 2015. 
  28. ↑ "60,000 Redmi 1S Smartphones Go Out of Stock in 5.2 Seconds: Xiaomi". Gadgets.ndtv.com. http://gadgets.ndtv.com/mobiles/news/60000-redmi-1s-smartphones-go-out-of-stock-in-52-seconds-xiaomi-596605. Retrieved 18 February 2015. 
  29. ↑ "60,000 Redmi 1S Phones Go Out of Stock in 13.9 Seconds, Says Xiaomi". Gadgets.ndtv.com. http://gadgets.ndtv.com/mobiles/news/60000-redmi-1s-phones-go-out-of-stock-in-139-seconds-says-xiaomi-600044. Retrieved 18 February 2015. 
  30. ↑ "50,000 Redmi Note handsets sold out in 6 seconds". Deccan Chronicle. http://www.deccanchronicle.com/141202/technology-mobiles-and-tabs/article/get-ready-xiaomi-redmi-note-go-sale-today. Retrieved 18 February 2015. 
  31. ↑ "Yu Yunique 2 launched at Rs. 5999 on flipkart exclusively". http://indianexpress.com/article/technology/mobile-tabs/yu-yunique-2-launched-at-rs-5999-flipkart-exclusive-specifications-and-feature-4766009/. Retrieved 25 July 2017. 
  32. ↑ "Why Flipkart chose today for its Big Billion Day sale" (in en). https://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/why-flipkart-chose-today-for-its-big-billion-day-sale/44485986. 
  33. ↑ "Flipkart Big Billion Day Sale Riddled With Problems" (in en). NDTV Gadgets360.com. https://gadgets.ndtv.com/internet/news/flipkart-big-billion-day-sale-riddled-with-problems-602498. 
  34. ↑ "‘Big Billion Day’ sale gets Flipkart millions of unhappy customers" (in en-US). The Indian Express. 2014-10-06. http://indianexpress.com/article/technology/technology-others/bigbillionday-gets-flipkart-millions-of-unhappy-customers/. 
  35. ↑ Flipkart sells goods worth $100 million in 10 hours, backlash on social media. The Economic Times. Retrieved 8 October 2014.
  36. ↑ Flipkart hosts biggest ever sale, website crashes. The Times of India. Retrieved 8 October 2014.
  37. ↑ "Myntra to Shut Down Website, Go App-Only on May 15" (in en). NDTV Gadgets360.com. https://gadgets.ndtv.com/internet/news/myntra-to-shut-down-website-go-app-only-on-may-15-690713. 
  38. ↑ "Will Myntra’s move away from desktop cause its downfall? apart from this they have a strong appeal amongst smartphone users with this new approach". FirstPost. 20 May 2015. http://tech.firstpost.com/news-analysis/will-myntras-move-away-from-desktop-cause-its-downfall-267514.html. Retrieved 21 May 2015. 
  39. ↑ Besta Shankar (21 May 2015). "Myntra Sees 10% Drop in Sales After Moving to App-only Format". International Business Times. http://www.ibtimes.co.in/myntra-sees-10-drop-sales-after-moving-app-only-format-33160. Retrieved 21 May 2015. 
  40. ↑ "Flipkart drops its plan to go app-only". The Times of India. https://timesofindia.indiatimes.com/business/india-business/Flipkart-drops-its-plan-to-go-app-only/articleshow/49751060.cms. 
  41. ↑ "Myntra no longer app only, brings back mobile site to woo customers". http://economictimes.indiatimes.com/industry/services/retail/myntra-no-longer-app-only-brings-back-mobile-site-to-woo-customers/articleshow/51002673.cms. 
  42. ↑ "Flipkart acquires mobile marketing firm Appiterate". The Economic Times. 2015-04-30. https://economictimes.indiatimes.com/small-biz/startups/flipkart-acquires-mobile-marketing-firm-appiterate/articleshow/47098282.cms. 
  43. ↑ "Flipkart Big Billion Days Sale to Be App-Only, Start October 13" (in en). NDTV Gadgets360.com. https://gadgets.ndtv.com/apps/news/flipkart-big-billion-days-sale-to-be-app-only-start-october-13-745975. 
  44. ↑ "Flipkart ‘Big Billion Days’ sale does $300 million GMV in business" (in en-US). The Financial Express. 2015-10-19. https://www.financialexpress.com/industry/flipkarts-big-billion-days-sale-churns-out-300-million-gmv/153290/. 
  45. ↑ Dalal, Mihir (2015-12-03). "Flipkart buys stake in MapmyIndia to improve delivery operations". Mint. http://www.livemint.com/Companies/Sr9sLGBAhSVExLiSrNQvVO/Flipkart-buys-stake-in-MapmyIndia-to-improve-delivery-operat.html. 
  46. ↑ "Flipkart-owned Myntra acquires fashion and lifestyle site Jabong" (in en). Hindustan Times. 2016-07-26. http://www.hindustantimes.com/business-news/myntra-acquires-fashion-and-lifestyle-site-jabong/story-zI8iRHc8Xu40S5PHfLxr7N.html. 
  47. ↑ "Flipkart acquires UPI-based payments start-up PhonePe". Mint. 4 April 2016. http://www.livemint.com/Companies/DbMTb2tDKuZoTfEa203XBL/Flipkart-acquires-UPIbased-payments-startup-PhonePe.html. 
  48. ↑ "Flipkart backs parenting network TinyStep with $2 million investment" (in en-US). https://techcrunch.com/2017/01/17/flipkart-baby-steps-tinystep-2-million/. 
  49. ↑ 49.0 49.1 "eBay to sell stake in Flipkart for about $1.1 billion, to relaunch eBay India". The Economic Times (The Times Group). 10 May 2018. https://economictimes.indiatimes.com/industry/services/retail/ebay-to-sell-stake-in-flipkart-for-about-1-1-billion-to-relaunch-ebay-india/articleshow/64100144.cms. 
  50. ↑ "Why eBay’s CEO sold eBay India and poured $500 million into the country’s top Amazon rival". Recode. https://www.recode.net/2017/4/10/15246330/ebay-india-flipkart-investment-partnership-ceo-wenig-interview. 
  51. ↑ SN, Vikas (10 April 2017). "Flipkart raises $1.4Bn from Tencent, eBay & Microsoft at $11.6Bn valuation, acquires eBay India". http://tech.economictimes.indiatimes.com/news/internet/flipkart-raises-1-4bn-from-tencent-ebay-microsoft-at-11-6bn-valuation-acquires-ebay-india/58107866.  Puneet
  52. ↑ "Flipkart ‘beats’ Amazon in m-sales". The Times of India. https://timesofindia.indiatimes.com/business/flipkart-beats-amazon-in-m-sales/articleshow/63073944.cms. 
  53. ↑ Punit, Itika Sharma. "In 20 hours, Flipkart sold a record-breaking 1.3 million smartphones" (in en-US). Quartz. https://qz.com/1084520/in-20-hours-of-its-big-billion-days-sale-flipkart-sold-a-record-breaking-1-3-million-smartphones/. 
  54. ↑ Purnell, Newley; Bellman, Eric; Abrams, Corinne (7 May 2018). "Walmart Bets $15 Billion on an E-Commerce Passage to India". The Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/walmart-bets-15-billion-on-an-e-commerce-passage-to-india-1525690804. 
  55. ↑ Browne, Ryan (4 May 2018). "Walmart reportedly triumphs over Amazon with approval of $15 billion deal for majority stake in Flipkart". CNBC. https://www.cnbc.com/2018/05/04/walmart-reportedly-triumphs-over-amazon-with-approval-of-15-billion-deal-for-majority-stake-in-flipkart.html. 
  56. ↑ Bansal, Varsha; Chanchani, Madhav (2018-05-12). "Walmart can invest another $3 billion in Flipkart at the same valuation". The Economic Times. https://economictimes.indiatimes.com/markets/stocks/news/walmart-can-invest-another-3-billion-in-flipkart-at-the-same-valuation/articleshow/64134529.cms. 
  57. ↑ "Sachin Bansal to sell entire 5.5% to Walmart as he exits Flipkart - Times of India". The Times of India. https://timesofindia.indiatimes.com/people/sachin-bansal-to-sell-entire-5-5-to-walmart-as-he-exits-flipkart/articleshow/64073757.cms. 
  58. ↑ "Walmart wins battle for India's Flipkart". BBC News. 9 May 2018. https://www.bbc.com/news/business-44050180. 
  59. ↑ "Walmart acquires Flipkart for $16 bn, world's largest ecommerce deal". The Economic Times. 9 May 2018. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/walmart-acquires-flipkart-for-16-bn-worlds-largest-ecommerce-deal/articleshow/64095145.cms. 
  60. ↑ "Walmart expects to close Flipkart deal by the end of 2018" (in en-US). https://www.moneycontrol.com/news/business/economy/walmart-expects-to-close-flipkart-deal-by-the-end-of-2018-2583161.html. 
  61. ↑ "Indian traders protest $16 billion Walmart-Flipkart deal" (in tr-TR). https://www.trtworld.com/business/indian-traders-protest-16-billion-walmart-flipkart-deal-18606. 
  62. ↑ Sen, Anirban (2018-05-14). "Walmart has long-term plans for Flipkart, an IPO isn’t one of them". Livemint. https://www.livemint.com/Companies/LRQkvFz4nvoUmwDVZUryRP/Walmart-has-longterm-plans-for-Flipkart-an-IPO-isnt-one-o.html. 
  63. ↑ "Walmart’s deal to buy Flipkart came with an interesting caveat" (in en-US). https://techcrunch.com/2018/05/13/walmarts-deal-to-buy-flipkart-came-with-an-interesting-caveat/. 
  64. ↑ "SoftBank is selling its entire Flipkart stake to Walmart". CNBC. 2018-05-22. https://www.cnbc.com/2018/05/22/softbank-is-selling-its-entire-flipkart-stake-to-walmart.html. 
  65. ↑ Verma, Shrutika. "Inside Flipkart's complex structure". http://www.livemint.com/Companies/VXr8oJzNJ4daOYSO5wNETN/Inside-Flipkarts-complex-structure.html. 
  66. ↑ Archana Rai (30 June 2010). "Flipkart: Country’s largest online bookstore". The Economic Times. http://economictimes.indiatimes.com/news/news-by-industry/et-cetera/Flipkart-Countrys-largest-online-bookstore/articleshow/6108317.cms. Retrieved 19 August 2010. 
  67. ↑ "How much did Flipkart raise through Accel funding in Oct 2009?". Quora. http://www.quora.com/How-much-did-Flipkart-raise-through-Accel-funding-in-Oct-2009. Retrieved 5 October 2013. 
  68. ↑ Sengupta, Snigdha. "Is Accel Eyeing a 25X Partial Exit From Flipkart? : STARTUPCENTRAL". Startupcentral.in. http://startupcentral.in/2011/10/flipkart-deal-is-accel-partners-eyeing-a-25x-partial-exit/. Retrieved 5 October 2013. 
  69. ↑ Sinha. "Accel India Invests in Flipkart". pluggd.in. http://www.pluggd.in/accel-india-invests-in-flipkart-297/. Retrieved 25 August 2011. 
  70. ↑ "Flipkart Raises $150Mn From Accel Partners, Tiger Global". 31 January 2012. http://dealcurry.com/20120131-Flipkart-Raises-150Mn-From-Accel-Partners-Tiger-Global.htm. Retrieved 5 May 2012. 
  71. ↑ Sudipta Datta; Suman Tarafdar (7 February 2010). "A Tale of Two Book Fairs". The Financial Express. http://www.financialexpress.com/news/a-tale-of-two-book-fairs/576523/3. Retrieved 19 August 2010. 
  72. ↑ "Inlogistics: India's first private train cargo operator". CNBC-TV18. 18 March 2010. http://www.moneycontrol.com/news/business/inlogistics-indias-first-private-train-cargo-operator_447560.html. Retrieved 19 August 2010. 
  73. ↑ Jayadevan PK. "Flipkart Raises Fresh $200 mn from Existing Investors Tiger global, Naspers & Others". NextBigWhat. http://www.nextbigwhat.com/flipkart-funding-from-tiger-naspers-accel-iconiq-297. 
  74. ↑ "Cash on delivery". Business Standard. 19 July 2010. http://www.business-standard.com/india/news/cashdelivery/401747/. Retrieved 19 August 2010. 
  75. ↑ Dua, Aarti (28 February 2010). "A winning chapter". The Daily Telegraph (Calcutta, India). http://www.telegraphindia.com/1100228/jsp/graphiti/story_12157168.jsp. Retrieved 19 August 2010. 
  76. ↑ "Bibliofile:A Garage Takes Off". Outlook. 22 March 2010. http://www.outlookindia.com/article.aspx?264649. Retrieved 19 August 2010. 
  77. ↑ "Flipkart may launch online marketplace on its website". Business Standard. http://www.business-standard.com/article/companies/flipkart-may-launch-online-marketplace-on-its-website-112100200140_1.html. Retrieved 23 July 2013. 
  78. ↑ "India s Amazon Flipkart Expects Sales to Surge 10-fold This Year". Bloomberg BusinessWeek. http://www.businessweek.com/news/2011-11-23/india-s-amazon-flipkart-expects-sales-to-surge-10-fold-this-year.html. Retrieved 18 February 2015. [|permanent dead link|dead link}}]
  79. ↑ Nikhil Menon (9 September 2011). "e-Commerce: Can the dotcom majors cope with their rising expectations?". The Economic Times (India). http://articles.economictimes.indiatimes.com/2011-09-09/news/30135779_1_flipkart-internet-users-sachin-bansal. 
  80. ↑ Tyagi, Akshay. "How Flipkart Helped India Realise Its E-Commerce Dream!". The TechIRIS. http://thetechiris.com/541/how-flipkart-helped-india-realise-its-e-commerce-dream/. Retrieved 26 May 2012. 
  81. ↑ ET Bureau. "Enforcement Directorate to probe Flipkart.". The Times of India. http://timesofindia.indiatimes.com/business/india-business/Enforcement-Directorate-to-probe-Flipkart-Walmart-for-violation-of-FDI-norms/articleshow/17397206.cms. 
  82. ↑ "Flipkart under ED scanner". The Hindu (Chennai, India). 28 November 2012. http://www.thehindu.com/business/flipkart-under-ed-scanner/article4143824.ece. 
  83. ↑ "Flipkart India Reports Loss of Rs. 281.7 Crore". Hindustan Times (Subscription content?). 19 December 2013. http://www.highbeam.com/doc/1P3-3160729871.html. Retrieved 31 January 2015. 
  84. ↑ "Flipkart raises $160 mn in latest funding drive". Moneycontrol.com. http://www.moneycontrol.com/news/business/flipkart-raises-36160-millionlatest-funding-drive_966335.html. Retrieved 18 February 2015. 
  85. ↑ "Flipkart raises $160M more from Morgan Stanley, Vulcan Capital, Tiger Global, others". VCCIRCLE. http://www.vccircle.com/news/technology/2013/10/09/flipkart-raises-160m-more-morgan-stanley-vulcan-capital-tiger-global. 
  86. ↑ Vikas SN (9 October 2013). "Flipkart Raises $160M From Dragoneer Investment, Morgan Stanley Investment & Others". MediaNama. http://www.medianama.com/2013/10/223-flipkart-160m-investment/. Retrieved 25 October 2013. 
  87. ↑ "Flipkart valued at roughly `9,900 crore, says MIH India". Livemint. 26 November 2013. http://www.livemint.com/Companies/FPzIYrvktFmq1t2lgFRc1H/Flipkart-valued-at-roughly-9900-crore-says-MIH-India.html. Retrieved 27 November 2013. 
  88. ↑ Rajat Agrawal. "Flipkart raises $210 million in financing round led by DST Global". BGR.in. http://www.bgr.in/news/flipkart-raises-210-million-in-financing-round-led-by-dst-global. Retrieved 18 February 2015. 
  89. ↑ Ankit Pandey. "Etailer Flipkart in talks to raise $500 mn for likely US listing next year; GIC & T Rowe Price keen on investing". The Economic Times. http://articles.economictimes.indiatimes.com/2014-07-10/news/51300633_1_iconiq-capital-flipkart-sachin-bansal. Retrieved 18 February 2015. 
  90. ↑ "Flipkart raises $1 billion from investors". Indiasnaps.com. http://indiasnaps.com/flipkart-raises-1-billion-from-investors/. Retrieved 18 February 2015. 
  91. ↑ Dhanya Ann Thoppil. "India's Flipkart Raises $1 Billion in Fresh Funding". The Wall Street Journal. https://www.wsj.com/articles/indias-flipkart-raises-1-billion-in-fresh-funding-1406641579?mod=LS1. Retrieved 18 February 2015. 
  92. ↑ "Flipkart now has market cap of $11 billion.". Business Standard. 23 December 2014. http://wap.business-standard.com/article/companies/flipkart-raises-700-million-from-new-investors-114122000208_1.html. Retrieved 18 February 2015. 
  93. ↑ Flipkart files application to become public, raises 700 million dollars. The Times of India. Retrieved 20 December 2014.
  94. ↑ Thoppil, Dhanya Ann (19 May 2015). "Flipkart Valued at $15 Billion After Latest Funding". The Wall Street Journal. https://www.wsj.com/articles/flipkart-valued-at-15-billion-after-latest-funding-1432021294. 
  95. ↑ "August roundup: top 5 Indian startups and their investments". https://www.hottopics.ht/stories/funding/top-5-indian-startups-august/. Retrieved 2 November 2015. 
  96. ↑ Russell, Jon. "Flipkart raises $1.4 billion from eBay, Microsoft and Tencent at an $11.6 billion valuation". https://techcrunch.com/2017/04/10/flipkart-1-4-billion/. 
  97. ↑ "SoftBank Vision Fund Invests a Record $2.5 Billion in Flipkart". TechStory. 10 August 2017. http://techstory.in/softbank-invests-flipkart-2017/. 
  98. ↑ "Ahead Of Festive Season Sale, Flipkart Infuses Marketplace Arm With $457.7 Mn". 19 September 2018. https://inc42.com/buzz/ahead-of-festive-season-flipkart-strengthens-marketplace-arm-with-457-7-mn-fund-infusion/. 
  99. ↑ "Flipkart case: ED finds FEMA violation, Rs 1,400 cr fine likely". 20 August 2014. http://indianexpress.com/article/business/companies/flipkart-case-ed-finds-fema-violation-r1400-cr-fine-likely/. 
  100. ↑ "Flipkart office was raided by Enforcement Directorate on Nov 30th? [Updated"]. http://www.nextbigwhat.com/flipkart-office-raided-by-enforcement-directorate-297/. 
  101. ↑ "Ecommerce companies like Flipkart, Amazon violated FDI Norms: Delhi High Court". http://articles.economictimes.indiatimes.com/2015-09-24/news/66854891_1_fdi-norms-marketplaces-delhi-high-court. 
  102. ↑ Mittal, Priyanka. "Delhi high court asks RBI to submit latest circular on FDI policy". http://www.livemint.com/Industry/EyjqDAyTHOcFakRehWZT2H/Delhi-high-court-asks-RBI-to-submit-latest-circular-on-FDI-p.html. 
  103. ↑ "Marketplace model of online retailers not under India's FDI policy: DIPP". http://www.ibtimes.co.in/marketplace-model-online-retailers-not-under-indias-fdi-policy-dipp-662195. 
  104. ↑ www.ETRetail.com. "Action against Snapdeal, Amazon.com, Flipkart for selling medicines without licence | ET Retail". http://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/action-against-snapdeal-amazon-flipkart-for-selling-medicines-without-licence/51155359. 
  105. ↑ "Flipkart Launches Its Own Home Appliances, Personal Healthcare Brand" (in en). NDTV Gadgets360.com. https://gadgets.ndtv.com/internet/news/flipkart-launches-its-own-home-appliances-personal-healthcare-brand-589203. 
  106. ↑ "Flipkart Billion Capture+ Smartphone Launched; Price Starts at Rs. 10,999". NDTV Gadgets360.com. https://gadgets.ndtv.com/mobiles/news/flipkart-phone-billion-capture-plus-price-10999-specifications-launch-date-1773649. 
  107. ↑ "Flipkart SmartBuy Launched, Offers Self-Branded Chargers and Micro-USB Cables at Low Prices". NDTV Gadgets360.com. https://gadgets.ndtv.com/internet/news/flipkart-smartbuy-launched-offers-self-branded-chargers-and-micro-usb-cables-at-low-prices-1635848. 
  108. ↑ Bailay, Rasul (2018). "Flipkart can’t use ‘MarQ’ till February 5". The Economic Times. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/flipkart-cant-use-marq-till-february-5/articleshow/62577110.cms. 
  109. ↑ "Flipkart delivery boy molests maid in Hyderabad". Deccan Chronicle. 14 December 2014. http://www.deccanchronicle.com/140916/nation-crime/article/flipkart-delivery-boy-molests-maid-hyderabad. Retrieved 15 December 2014. 
  110. ↑ "Women's safety: E-commerce companies need to do more to ensure quality of offline workforce". The Economic Times. 14 December 2014. http://economictimes.indiatimes.com/industry/services/retail/womens-safety-e-commerce-companies-need-to-do-more-to-ensure-quality-of-offline-workforce/articleshow/45506321.cms. Retrieved 15 December 2014. 
  111. ↑ "Flipkart co-founders apologise for glitches | Business Standard News". Business Standard. 8 October 2014. http://www.business-standard.com/article/companies/flipkart-co-founders-apologise-for-glitches-114100701229_1.html. Retrieved 18 February 2015. 
  112. ↑ "Flipkart says sorry for mega snag". Business Line. 7 October 2014. http://www.thehindubusinessline.com/features/smartbuy/tech-news/flipkart-says-sorry-for-mega-snag/article6478949.ece. Retrieved 18 February 2015. 
  113. ↑ "Future Group's Kishore Biyani, vendors accuse Flipkart of undercutting to destroy competition". The Economic Times. 8 October 2014. http://articles.economictimes.indiatimes.com/2014-10-08/news/54784739_1_future-group-kishore-biyani-marketplaces. Retrieved 18 February 2015. 
  114. ↑ "Centre to look into complaints against Flipkart sale". Business Line. 8 October 2014. http://www.thehindubusinessline.com/features/smartbuy/tech-news/sitharaman-will-look-into-complaints-on-flipkart-discount-sale/article6481305.ece. Retrieved 18 February 2015. 
  115. ↑ "Big Billion Day sale cost Flipkart big; govt takes notice | Business Standard News". Business Standard. 9 October 2014. http://www.business-standard.com/article/companies/billion-day-sale-cost-flipkart-big-govt-sits-up-114100900029_1.html. Retrieved 18 February 2015. 
  116. ↑ Shyam Balasubramanian (14 April 2015). "Flipkart Pulls Out of Airtel Deal Amid Backlash Over Net Neutrality". NDTV.com. http://www.ndtv.com/india-news/flipkart-pulls-out-of-airtel-deal-amid-backlash-over-net-neutrality-754829. 
  117. ↑ "Flipkart’s Logistics Suffer Blow: 400 Delivery Boys Go On Strike Due To Lack Of Basic Amenities - Inc42 Media" (in en-US). Inc42 Media. 2015-07-30. https://inc42.com/buzz/flipkart-delivery-boys-strike/. 
  118. ↑ "Logistics staff go on strike, Flipkart, Myntra in a fix" (in en-US). The Indian Express. 2015-08-02. https://indianexpress.com/article/business/companies/logistics-staff-go-on-strike-flipkart-myntra-in-a-fix/. 
  119. ↑ "Flipkart Delivery Man Murdered For ₹12,000 Cellphone In Bengaluru" (in en-IN). HuffPost India. 2016-12-15. https://www.huffingtonpost.in/2016/12/15/flipkart-delivery-man-murdered-for-12-000-cellphone-in-bengalur_a_21628355/. 
  120. ↑ Mitter, Sohini. "A month after delivery boy's murder, Flipkart launches new SOS feature" (in en). Mashable. https://mashable.com/2017/01/18/flipkart-sos-feature-delivery-boys/#8olxYbb0_gqS. 
  121. ↑ Rebecca Menezes (25 November 2016). "Seller Interview – "We quit Flipkart 3 times due to missing products, order cancellations" Online seller Ravi Chopra shares why quitting Flipkart was needed". http://indianonlineseller.com/2016/11/seller-interview-we-quit-flipkart-3-times-due-to-missing-products-order-cancellations-etc-online-seller-ravi-chopra-shares-why-quitting-flipkart-was-needed/. 
  122. ↑ TIME 100 Titans – Binny Bansal and Sachin Bansal, Time, 21. April 2016
  123. ↑ "Forbes India rich list: Mukesh Ambani tops for 9th year, Flipkart's Bansals debut at 86th slot". Firstpost. 24 September 2015. http://www.firstpost.com/business/flipkart-co-founders-sachin-and-binny-bansal-enter-forbes-billionaires-list-2443866.html. Retrieved 24 September 2015. 
  124. ↑ "ET Awards 2012–13: How IIT-alumnus Sachin Bansal built Flipkart into a big online brand". The Economic Times. http://articles.economictimes.indiatimes.com/2013-09-26/news/42426999_1_business-model-tiger-global-accel-partners. Retrieved 26 September 2013. 
  125. ↑ "Flipkart awarded at CNBC-TV18's India Business Leader Awards 2012". Firstpost. http://www.mediavataar.com/index.php/news/experiential-marketing/3450-flipkart-awarded-at-cnbc-tv18s-india-business-leader-awards-2012. Retrieved 10 October 2013. 

External links

  • No URL found. Please specify a URL here or add one to Wikidata.

[ ⚑ ] 12°56′00″N 77°41′40″E / 12.9333333°N 77.69444°E / 12.9333333; 77.69444




Retrieved from "https://handwiki.org/wiki/index.php?title=Company:Flipkart&oldid=3483461"