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Flipkart

Flipkart Online Services Pvt. Ltd. also known as Flipkart.com is an Indian based online retailer company founded in 2007 by Sachin Bansal and Binny Bansal. The company is registered in Singapore but has its headquarters in Bangalore, Karnataka. It has a wide range of products from electronic items to accessories, home appliances to books and toys. Flipkart also has its own product range of products and has launched it under the name DigiFlip and it includes products like tablets, USBs and laptop bags. The company was founded in October 2007 by Sachin Bansal and Binny Bansal, both worked for amazon.com but later they left their job to create their new company. Both the founders are the alumni of Indian Institute of Technology, Delhi and the first product sold by the company was a book called Leaving Microsoft to Change the World and they sold this book to a customer in Hyderabad. Initially, they spent 4 Lakh rupees for making the website to set up the business. Flipkart was the first company in India to allow Cash on Delivery option as the Indian customers had less trust on e-commerce website. Currently, Flipkart allows payment methods such as cash on delivery, credit card or debit card transactions, net banking and e-gift voucher. Flipkart reported the sales worth Rs 40 million in the financial year of 2008-09. Flipkart later raised funding from venture capital funds Accel India worth 1 million dollars in 2009 and then raised 10 million dollars in 2010 and 20 million dollars in 2011 from Tiger Global. Flipkart announced its fourth round of funding worth 150 million dollars from MIH and ICONIQ Capital. In July 2013, the company raised additional 200 million dollars from its existing investors Tiger Global, Naspers, Accel Partners and Iconiq Capital. Flipkart is reported to sell at least 10 products per minute and after reporting the sales worth Rs 40 million in 2008-09, Flipkart reported 200 million rupees in 2009-10 and 750 million rupees in 2010-2011. In November 2012, Flipkart was one of the companies that was being probed for alleged violation of FDI regulations of the Foreign Exchange Management Act 1999. After the allegations, Flipkart reported a loss of US$ 42 million in the financial year 2012-13. In July 2013, Flipkart raised $160 million from private equity investors. Flipkarts last fundraising round in May 2015 pegged its valuation around $15 billion. By August 2015 Flipkart had already raised a total of $ 3 billion over 12 rounds and 16 investors. However, in May 2016, Morgan Stanley lowered Flipkarts valuation to $9.39 billion. Flipkart being one of the biggest ecommerce players in the country moved a step ahead and made an exclusive tie up with Motorola and launched its budget smartphone Moto G on 5th February 2014 and sold more than 20,000 units within hours of the launch. Flipkart then made a long term tie up with Motorola Mobility and launched Moto X and later Moto E in May 2014. Flipkart also made a deal with Xiaomi and sold the high end smartphone Xiaomi Mi3 exclusively. The first batch was sold within 39 minutes and the second batch was sold within 5 seconds. Later, more than 150,000 buyers booked for the next sale of the smartphone. Flipkart also launched its in-house home appliance and personal healthcare brand Citron in September 2014 and the label includes a wide range of cooking utilities as well as grooming products. Flipkart was criticized for its failure of the 2014 Big Billion Sale. However in the second edition of the Big Billion Sale it reported that they saw a business turnover worth $300 million in gross merchandise volume. Flipkart received criticism again in 2014 after a Flipkart delivery boy molested a house maid in Hyderabad. Flipkart was again criticized on the issue of net neutrality after they announced their partnership with Airtel to use Airtel Zero platform which would have made Flipkart app free for Airtel users. After receiving such criticism, Flipkart retracted its decision to use Airtel Zero platform. Flipkart acquired companies like Myntra.com, Letsbuy.com etc to better their presence in the market as well as to survive in the heavy competition of e-commerce. Flipkart recently purchased jabong.com, a popular fashion store. Flipkart also had won many awards and recognition. In 2012, Flipkart was awarded Young Turk of the Year at the CNBC TV 18s India Business Leader Awards 2012. Flipkart.com also was nominated for IndiaMART Leaders of Tomorrow Awards of 2011. Co-founder of the company Sachin Bansal received the Entrepreneur of the year Award of 2012-13 from Economic Times leading Indian Economy Daily. Sachin Banal and Binny Bansal also entered the Forbes India Rich List and were placed at the 86th position with a net worth pf $1.3 billion each in September 2015. In April 2016, Sachin Bansal and Binny Bansal were also included in 100 most influential people by TIME.

Flipkart Formally Closes Jabong, Redirecting Customers to Myntra
India.com Business Desk | February 5, 2020 2:04 PM IST
New Delhi: E-commerce major Flipkart has formally closed Jabong, which it acquired in July 2016, in ...
Flipkart Formally Closes Jabong, Redirecting Customers to Myntra
indiacom
2020-02-05T03:04:39+00:00
2020-02-05T03:04:39+00:00
Flipkart
India.com
Flipkart Republic Day Sale: Avail Big Discounts on Electronics, TVs, And More | All You Need to Know
India.com News Desk | January 17, 2020 4:30 PM IST
New Delhi: Flipkart will soon be back with the its "Republic Day Sale" on January 19, 2020; it will ...
Flipkart Republic Day Sale: Avail Big Discounts on Electronics, TVs, And More | All You Need to Know
indiacom
2020-01-17T05:30:32+00:00
2020-01-17T05:30:32+00:00
Flipkart
India.com
Myntra Registers 50% Rise in Flagship 'End of Reason' Sale
IANS | December 27, 2019 1:11 PM IST
Bengaluru: Myntra, the Flipkart-owned e-commerce platform has announced that the 11th edition of its...
Myntra Registers 50% Rise in Flagship 'End of Reason' Sale
indiacom
2019-12-27T02:11:30+00:00
2019-12-27T02:11:30+00:00
Flipkart
India.com
Vivo V17 with punch-hole display, quad rear cameras and Snapdragon 675 launched in India: Price, Availability and Specifications
Staff | December 9, 2019 12:45 PM IST
Vivo V17, the cheaper sibling of the Vivo V17 Pro, has been launched in India. The third largest sma...
Vivo V17 with punch-hole display, quad rear cameras and Snapdragon 675 launched in India: Price, Availability
indiacom
2019-12-09T01:45:07+00:00
2019-12-09T01:45:07+00:00
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India.com
Vivo V17 to launch in India today: Live stream details, expected price, features
Staff | December 9, 2019 9:15 AM IST
Vivo will launch its latest V17 smartphone in India today, which will fall under the Chinese brand's...
Vivo V17 to launch in India today: Live stream details, expected price, features
indiacom
2019-12-08T22:15:03+00:00
2019-12-09T00:30:12+00:00
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India.com
Flipkart iPhone Days sale offers: iPhone XR, iPhone 11, iPhone 8 discounted
Staff | December 6, 2019 9:45 AM IST
Flipkart is back with yet another brand-specific sale. The e-commerce giant is hosting iPhone Days s...
Flipkart iPhone Days sale offers: iPhone XR, iPhone 11, iPhone 8 discounted
indiacom
2019-12-05T22:45:08+00:00
2019-12-06T01:15:03+00:00
Flipkart
India.com
Nokia Smart TV First Impressions: 55-inch 4K display, slim bezels and fixed soundbar by JBL
Hitesh Arora | December 5, 2019 5:30 PM IST
Indian 'Smart TV 'market is in a roll with the new entrants, and latest in the list is the Nokia Sma...
Nokia Smart TV First Impressions: 55-inch 4K display, slim bezels and fixed soundbar by JBL
indiacom
2019-12-05T06:30:04+00:00
2019-12-05T06:30:04+00:00
Flipkart
India.com
Huawei Watch GT 2 launched in India: Price, features, offers and availability details
Staff | December 5, 2019 2:15 PM IST
The Huawei Watch GT 2 smartwatch has been launched in India. The smart wearable is available via Fli...
Huawei Watch GT 2 launched in India: Price, features, offers and availability details
indiacom
2019-12-05T03:15:09+00:00
2019-12-05T03:15:09+00:00
Flipkart
India.com
Realme 5s sale today at 12PM: Price in India, offers, features and more
Staff | December 5, 2019 11:45 AM IST
If you're in the market for a budget smartphone, you should check out the Realme 5s. The smartphone,...
Realme 5s sale today at 12PM: Price in India, offers, features and more
indiacom
2019-12-05T00:45:06+00:00
2019-12-05T02:15:08+00:00
Flipkart
India.com
Lenovo launches Smart Display, Smart Bulb and Smart Camera in India: Price, features
Staff | December 4, 2019 9:00 PM IST
Lenovo on Wednesday introduced smarter technology for a more connected home experience with an expan...
Lenovo launches Smart Display, Smart Bulb and Smart Camera in India: Price, features
indiacom
2019-12-04T10:00:04+00:00
2019-12-04T10:15:03+00:00
Flipkart
India.com
London man orders Apple Watch and Amazon delivers him $5 plunger
Staff | December 4, 2019 12:30 PM IST
Flipkart recently delivered pack of tiles with instruction manual to a Kannur man who ordered a came...
London man orders Apple Watch and Amazon delivers him $5 plunger
indiacom
2019-12-04T01:30:07+00:00
2019-12-04T01:30:07+00:00
Flipkart
India.com
New Realme C2 update brings November 2019 Android security patch and more
Staff | December 2, 2019 4:45 PM IST
Realme has released a new software update for its entry-level Realme C2 device. It brings 2019 Andro...
New Realme C2 update brings November 2019 Android security patch and more
indiacom
2019-12-02T05:45:09+00:00
2019-12-02T05:45:09+00:00
Flipkart
India.com
Kannur man orders camera and Flipkart delivers him pack of tiles
Staff | December 2, 2019 12:30 PM IST
A lot can go wrong while shopping online. However, the one where you would not want the experience t...
Kannur man orders camera and Flipkart delivers him pack of tiles
indiacom
2019-12-02T01:30:03+00:00
2019-12-02T01:30:03+00:00
Flipkart
India.com
Realme 5s sale today at 12PM: Price in India, features, offers, availability and more
Staff | December 2, 2019 8:45 AM IST
The Realme 5s will be up for grabs in India today via Flipkart and Realme.com. The Realme 5s sale wi...
Realme 5s sale today at 12PM: Price in India, features, offers, availability and more
indiacom
2019-12-01T21:45:02+00:00
2019-12-02T01:15:03+00:00
Flipkart
India.com
Nokia Smart TV price, availability details leaked ahead of India launch on December 5
Staff | December 2, 2019 11:00 AM IST
The smart TV space in India is set to get its latest entrant this week Nokia. The first Nokia-brande...
Nokia Smart TV price, availability details leaked ahead of India launch on December 5
indiacom
2019-12-02T00:00:10+00:00
2019-12-02T00:00:10+00:00
Flipkart
India.com
Flipkart Big Shopping Days: Top 10 smartphone deals you shouldn't miss out on
Staff | December 1, 2019 6:30 PM IST
E-commerce giant Flipkart has just kicked off its Big Shopping Days sale on its platform. As part of...
Flipkart Big Shopping Days: Top 10 smartphone deals you shouldn't miss out on
indiacom
2019-12-01T07:30:03+00:00
2019-12-01T07:45:02+00:00
Flipkart
India.com
Infinix Band 5 Review: Basic fitness tracker with color display, IP67 rating
Ankita Garg | November 30, 2019 12:00 PM IST
While the budget phone segment is filled with interesting and powerful devices that offer premium fe...
Infinix Band 5 Review: Basic fitness tracker with color display, IP67 rating
indiacom
2019-11-30T01:00:04+00:00
2019-11-30T01:15:03+00:00
Flipkart
India.com
Flipkart Big Shopping Days: Top deals expected during the 5-day sale
Staff | November 29, 2019 4:30 PM IST
The shopping season is making a return in a big way. Flipkart has announced its next round of huge s...
Flipkart Big Shopping Days: Top deals expected during the 5-day sale
indiacom
2019-11-29T05:30:03+00:00
2019-11-29T05:30:03+00:00
Flipkart
India.com
Huawei Watch GT 2 'Notify Me' button goes live on Flipkart and Amazon India
Staff | November 29, 2019 2:15 PM IST
Huawei Watch GT 2's 'Notify Me' page is now live on Flipkart and Amazon India. Interested users can ...
Huawei Watch GT 2 'Notify Me' button goes live on Flipkart and Amazon India
indiacom
2019-11-29T03:15:04+00:00
2019-11-29T03:15:04+00:00
Flipkart
India.com
Realme 5s first sale today at 12PM: Price, specifications, offers and all you need to know
Staff | November 29, 2019 9:15 AM IST
Realme 5s will be up for purchase for the first time in India today at 12:00 PM. The mid-segment sma...
Realme 5s first sale today at 12PM: Price, specifications, offers and all you need to know
indiacom
2019-11-28T22:15:15+00:00
2019-11-29T01:45:04+00:00
Flipkart
India.com