...Flipkart-The Online Megastore Company was co-founded in 2007 by Sachin Bansal and Binny Bansal who are alumni of IIT-Delhi after they left amazon.com which was then the largest online retail hub. Legally, Flipkart is not an Indian company since it is registered in Singapore and majority of its shareholders are foreigners. Because foreign companies are not allowed to do multi-brand e-retailing in India, Flipkart sells goods in India through a company called WS Retail. Other third-party sellers or companies can also sell goods through the Flipkart platform. Initially started with online price comparison only to become bigger and bigger and moved to online selling of books (e-book) but later expanded it to other electronic goods and daily household appliances and equipments. Its initial investment was ₹4 lakhs out which ₹2 lakhs was just to buy computers and furnitures for their offices and all funds were acquired through venture capitalists like Accel India,Tiger Global,etc. This online retail venture currently employs over 4500 employees and has 7 warehouses throughout the country where on an average,20 products are sold per minute. The logistics firm of the company are valued around ₹10,000 Crores And had a massive revenue of around 1200 Crores (FY 2012-13) and plans to reach 2500 Crores this year. Flipkart's reported sales were ₹40 million in Financial Year 2008–2009 and ever since then the company's sales turnover has increased infinitely to the extent that the sales projection...
Words: 1214 - Pages: 5
...When I joined Flipkart around a year back I wasn't expecting all of these in an Indian startup. But what I got and continue getting has amazed me. Let me list a few (not an exhaustive list): * Ownership - The kind of ownership that I have got at Flipkart is awesome. I am in the driver seat here from day 1. * Impact - Everyday, I feel that I am doing something which is changing the way Indians shop online. This impact piece is one of the biggest drivers for me and keep me motivated to work even harder. * Culture - Flipkart culture is very open and people friendly. There are no hierarchies. You can go and talk to anybody anytime. Company is very transparent and you know exactly is happening and why. Best part is we are in phase where we get a say on what kind of culture we want at Flipkart. * Work - I am excited about the work that I do at flipkart everyday. It's the first time I have felt that meetings are not an overhead because here we do meetings for problem solving and not for status updates. They are fun. I learn a lot everyday and getting better in many aspects. I believe everybody is working on cutting edge technology and we are building something to solve problems for today and tomorrow. Just an example, I have been part of the project which has been built in-house from scratch and its been a phenomenal experience working on such a large scale project. May be I would need to work somewhere for 3 years to gain the same amount of learning that I gained here in...
Words: 346 - Pages: 2
...FLIPKART: The success story… The Indian youth is embracing the boom in e-retailing and this boom is headed by the Flipkart in almost every market segment. The market share of Flipkart is so predominant that even the offline stores are getting heavily affected. But what has made this new comer such a force in market that even the global giant like Amazon is feeling the heat of competition in India? INRODUCTION- The story starts when two guys Sachin Bansal and Binny Bansal alumni of IIT Delhi working in Amazon quit their jobs and start their startup in September 2007 with initial funding of Rs 4 lakhs at Bangalore. They adopted the Amazon model in India and started with books category because they are easy to store, low cost of maintenance and value doesn’t change with time. It took them 4 months to sell their first order and their initial orders were totally dependent on their friends and close relatives. From coding to delivering of books, all the tasks were handled by both of them but they never lost the hope and kept strong belief in their dream project. They realized the potential of Indian market in e-commerce sector and made a flexible business plan to tap that potential. Their plan and efforts were so aligned with the market requirements that it took them only 6 years to reach from Rs. 4 lakhs to Rs. 400 crores and overtook their all existing and new competitors by a big margin. The investors have such a strong trust in the leadership and vision of Flipkart that continuously...
Words: 960 - Pages: 4
...------------------------------------------------- Can Flipkart Deliver? From a start-up with an investment of just four lakhs rupees, Flipkart has grown into a $100 million-revenue online retail giant in just five years. “It came to me as a Christmas gift from my Secret Santa, and it was all about choice, convenience and a new relationship,” is how Naveed Ansari, a 26-year-old Project Executive from Mumbai, recounts his first experience with Flipkart. A typical professional from a metro, he's short on time, and he's invariably seeking convenience. So, an e-voucher from Flipkart seemed an ideal fit. This gift marked his initiation into the sphere of e-commerce, and the journey for him has “just begun”. Many Indians today are embracing e-retailing with enthusiasm. Popular portals such as Flipkart are spearheading the conversion of offline shoppers into online bargain hunters. Adds Naveed, as an afterthought, “I felt Flipkart was the best option as the transaction was easy, and the variety of products was a bonus.” For Flipkart, this means the unlocking of a vast audience waiting to experience the joys and comfort of shopping online. Sachin Bansal, CEO and one of the co-founders of Flipkart (the other being Binny Bansal), is an ardent believer in the merits of customer service. “A simple desire to create a tailor-made product for the Indian consumer has grown into something beyond what we imagined,” Sachin muses. A quick glance at Flipkart's timeline shows it was to start as...
Words: 11404 - Pages: 46
...ripublication.com Flipkart-Myntra; From a Merger to an Acquisition Farhat Fatima Periyar Management and Computer College, Jasola, New Delhi Abstract The Indian e-commerce market was worth 75,000 crore, in 2013, according to a joint report by KPMG and Internet and Mobile Association of India. India has the potential to double its economic contribution via Internet, from 1.6 percent GDP at present to 2.8 and 3.3 percent by 2015 [MCkensy’2012]. Indian E-commerce is most likely to generate employment for 1.45 million people in coming two years. Emergence of the new government and its innovative policies are developing hope to bring FDI in e-commerce for local market players. Marking the biggest consolidation in the e-commerce space in India, this report puts light on India’s own Amazon; Flipkart and fashion e-tailer Myntra which jointly exposes their vision to capture more than 50% e-market share by strategic alliance. As Flipkart’s annualized sales crossed over 6,100 crore a year ahead of target. It had estimated to reach the billion dollar mark for gross merchandise value by 2015; on the other hand Myntra’s revenue was about 1,000 crore in the previous financial year. It aims to double its revenue in this financial year as it expands its seller base and adds products following China’s biggest e-retail model Alibaba.com. Myntra has about 100 sellers on board and plans to increase this number to 1,000 by fiscal end. The strategy of Flipkart is to invest around ...
Words: 5049 - Pages: 21
...eRETAILING: FLIPKART One of the fundamental issues of eMarketing is how to attract and win over the consumer in the highly competitive Internet marketplace. Also, knowing the factors affecting the online consumer’s behaviour and examine how e-marketers can influence the outcome of the virtual interaction and buying process by focusing their marketing efforts on elements shaping the customer’s virtual experience or the Web experience is quite important. Flipkart was established in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. They worked for Amazon.com before quitting and founding their own company. Initially they used word of mouth marketing to popularize their company. A few months later, the company sold its first book on flipkart.com - John Wood’s Leaving Microsoft to Change the World. Flipkart broke even in March 2010 and claims to have had at least 100% growth every quarter since its founding.The store started with selling books and in 2010 branched out to selling CDs, DVDs, mobile phones & accessories, cameras, computers, computer accessories and peripherals, pens & office supplies, other electronic items such as home appliances, kitchen appliances, personal care gadgets, health care products etc. The E-Retailing form of market was fairly something unheard of to the Indian consumer in 2007. Flipkart which has carved a niche for itself in terms of market share, goodwill and popularity in the online...
Words: 360 - Pages: 2
...Flipkart and amazon Abstract With the advent of the information technology, specifically the internet, it is said that more and more companies are existing in the online world. The changes in the business market also allows customers to change and become more dependent on online stores and online shopping than go and find something in shopping malls or retail store. One of the existing and considered as the largest and competitive online shopping in the world is Amazon. In this report, the goal comparative study of flipkart and amazon(in respect of their growth,market study etc and how IT strategy affected their business. . Flipkart has been mostly marketed by word of mouth advertising. Customer satisfaction has been their best marketing medium. Flipkart very wisely used SEO (Search Engine Optimization) and Google The message is very clear to make people more comfortable with Flipkart, to generate a great customer relationship and loyalty on the basis of great product prices and excellent customer service. All in all to create a great customer experience. Amazon has been considered as one of the largest bookstore and online store in the global market. The company has been able to thousands of customers in over 150 nations. Amazon’s main website offers millions of DVDs, music, books and videos not to mention their products from household, electronics, apparel and clothes, cosmetics, drugs and others. Thought the company has highs and lows...
Words: 265 - Pages: 2
...FLIPKART IMPROVES INVENTORY UTILIZATION WITH QLIKVIEW “QlikView is a superb tool for managing inventory by allowing you to optimize stock levels and lower costs associated with excess stock. By using QlikView in our day-to-day operations, we’ve improved inventory utilization by 5 percent.” – Pravin Shinde, Analytics Manager, Flipkart Flipkart, the largest B2B e-commerce business in India, went live in 2007 with the objective of making books easily available to anyone with internet access. Founded by entrepreneurs Sachin Bansal and Binny Bansal, Flipkart has diversified from book sales into other products. It sells entertainment products—from movies, music to consumer electronics—as well as healthcare and personal products, home appliances, and clothing. Flipkart experiences massive growth quarter on quarter The rapid diversification has also brought rapid growth. This is illustrated by the company’s expanding network of warehouses and procurement operations. This kind of scale has added to the need for Flipkart to continually upgrade its business discovery software to better serve multiple business units with new applications. As a startup, Flipkart initially used open source technology to support the launch, but soon found that open source business intelligence (BI) tools had limited functionality. Shinde says: “Scalability was a problem. It was hard to drill down into our data to produce complex reports.” QlikView impresses Flipkart as ...
Words: 929 - Pages: 4
...SUBMITTED TO: Dr. PURNAPRABHAKAR NANDAMURI DATE: 31-8-2014 Background Flipkart is an e-commerce business founded by Sachin and Binny Bansal in 2007 both are not related to each other and alumni of IIT Delhi. It is a Singapore holding based company and the most of investors are from foreigners, the business was incorporated as a company in October 2008 headquarters Bangalore, Karnataka .During its initial years Flipkart focused only on books and soon as it expanded, Today they are present across categories including movies, music, games, mobiles, cameras, computers, healthcare and personal products, home appliances and electronics, stationeries, perfumes, toys, apparels, shoes and eBooks. They both pooled in Rs 2 lakh each and with two computers launched the site from their two-bedroom apartment in Koramangala, a primarily residential locality in Bangalore where the company now has multiple offices. For 10 days, the site did not see a single sale and then a customer VVK Chandra from Andhra Pradesh placed the first order for the book 'Leaving Microsoft to Change the World’. Now the Flipkart has more than 10000 employees. Flipkart initially had spent 4lakhs to set up the business but it has later raised funding from Venture Capital funds Accel India, Tiger global, Nasper group and Iconiq Capital. In 2011 Flipkart acquired Mime360 and Chakpak.com Websites and later in 2012 flipkart revealed its new Flyte Digital Musical Store, but it was shut down in June 2013 as...
Words: 8649 - Pages: 35
...E - business success story in India ABSTRACT: The Research paper provides information about overall of e commerce leading platform Flipkart from India. Incredible growth in e-commerce sites in India show high rate of internet penetration in the world leading to changing facets of economic growth in the country. Today no company can afford to avoid e-commerce, and in the future E-commerce shall become part of core business functions just like marketing or finance. Flipkart is one of the first in presenting people in India with an option of online shopping and has grown to become a biggest in the business today. KEYWORDS: E-tailing , E-business, E-Commerce, Online Shopping, Flipkart,… Beijing, April 11th, 2016 INTRODUCTION Flipkart .com Vision “ To become Amazon of India” Mission “Providing a delightful and memorable customer experience” Objective “Completely hassle free shopping experience with best prices in India Flipkart, an Indian e-commerce firm, was founded by Sachin Bansal and Binny Bansal, both being graduates from IIT, after Ex- Amazon, in the year 2007 with an initial investment $9000. Flipkart initiated its operations from headquarter Banguluru, Karnataka and began operations as an online book retailer and rapidly grew into one of India‟s largest e-commerce companies. In India, Flipkart is one of the most popular websites which selling everything from entertaintment products (movies, music, games, toys) ,...
Words: 2737 - Pages: 11
...Draft Report On Financial Evaluation of Flipkart response to Amazon’s challenge Submitted To: Dr. Anupam Rastogi Submitted By: Group 4 MBA Capital Markets Nikhil A001 Nikita Agarwal A002 Niket Jithra A029 Nitish Khator A034 Pankaj Shah A046 Nilabh Shekhar A047 1|Page Introduction The e-Commerce industry was in its infancy for the larger part of the previous decade. However, in last three years, the industry has witnessed an incredible growth of 150%, increasing from USD 3.8 billion (INR 19,249 crores) in 2009 to USD 10 billion (INR 47,349 crores) in 2013. A number of business models for e-Commerce have evolved and are in varying stages of maturity. The resultant industry has come to be dominated by Flipkart, Amazon and Snapdeal in the non-travel related ecommerce market. e-Commerce is a capital intensive business and with problems abounding in technology infrastructure, low profit margins and poor physical infrastructure (logistics and distribution). In spite of this Flipkart has managed to raise $1.2 B this year which was followed by Amazon declaring an investment of $2B. In order to meet this challenge head – on Flipkart has planned to spend significant amount of capital in back-end infrastructure, logistics and warehouse, technological upgrade, scouting for new acquisitions, customer acquisition and talent. Paucity of significant larger players has resulted in money chasing few firms which have resulted in distorted valuations of companies. The companies have been...
Words: 6297 - Pages: 26
...Introduction Flipkart is an Indian e-commerce company headquartered in Bangalore, Karnataka. It was founded by Sachin Bansal and Binny Bansal in 2007. In its initial years, Flipkart focused on online sales of books, but it later expanded to electronic goods and a variety of other products. Flipkart offers multiple payment methods like credit card, debit card, net banking, e-gift voucher, and the major of all Cash on Delivery.[3] The cash-on-delivery model adopted by Flipkart has proven to be of great significance since credit card and net banking penetration is very low in India. History Flipkart was founded in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. They worked for Amazon.com before quitting and founding their own company. Initially they used word of mouth marketing to popularise their company. A few months later, the company sold its first book on flipkart.com—John Woods' Leaving Microsoft to Change the World. Today, as per Alexa traffic rankings, Flipkart is among the top 20 Indian Web sites and has been credited with being India's largest online bookseller with over 11 million titles on offer. Flipkart claims to have had at least 100% growth every quarter since its founding. The store started with selling books and in 2010 branched out to selling CDs, DVDs, mobile phones and accessories, cameras, computers, computer accessories and peripherals, and in 2011, pens & stationery, other electronic items such as home...
Words: 1994 - Pages: 8
...E-commerce market Electronic commerce has emerged as an indispensable ingredient of India’s trade facilitation policy. Since 1991, The economic reforms explicitly took place in India around 1991 which resulted in the integration of the economy with the global economy. This combined with globalization and the advent of Internet has facilitated the growth of e-commerce market all over the world. India first came into interaction with the online E-Commerce via the IRCTC in 2002. The government of India experimented this online strategy to make it convenient for its public to book the train tickets. Since then the market was taken over by airlines and other travel companies which made the mode of ticket booking online. This was taken forward by Flipkart, Snapdeal, Amazon and other companies and today, they rule this industry. The E-commerce business transactions are categorized into business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), consumer-to-business (C2B) and the recently evolved business-to-business-to-consumer (B2B2C). E-Travel is the most popular form of E-Commerce, followed by E-Tail which essentially means selling of retail goods on the internet conducted by the B2C category. E-commerce provides multiple benefits to the consumers in form of availability of goods at lower cost, wider choice and saves time. Also, online services such as banking, ticketing (including airlines, bus, railways), bill...
Words: 3164 - Pages: 13
...these models because of in-efficient logistics and payment collection networks and lack of internet penetration at that time. Also, these were more focused towards the NRI Audience who wanted to send back gifts home and were more comfortable doing online transactions. Then Ebay entered the marketplace with the acquisition of Baazee and offered a platform for sellers to get in touch with interested buyers and sell their goods online. This model was further followed by OLX/Quikr which have introduced similar services. IRCTC also introduced online ticket booking in the mean time, The marketplace was completely revolutionized by the entry of players such as Flipkart,Snapdeal and Amazon about 6-7 years back. These sites started with the marketplace model and covered only a few product categories in the beginning,For ex, Flipkart and Amazon to a large extent sold only books in the beginning and expanded to other sections later on . Expansion of this model was done using the following methods: * Tie up with a large number of retailers offering veried goods * Introduction of Cash On Delivery as a payment option * 30 Day No Hassle Return Policy employed by many e-tailers * Significant investment in warehouses and acquiring in house...
Words: 1622 - Pages: 7
...Study on E- Commerce companies to understand Oligopoly markets Study on E- Commerce companies to understand Oligopoly markets BOE PROJECT Submitted by: Ratika Gupta PGDM20160050 INTRODUCTION The study of electronic commerce can be viewed from various perspectives. From a communication perspective, e-commerce is the delivery of information, products, and services and the payment for these over telephone lines, computer networks, or any other electronic means. From a business process perspective, e-commerce is the application of technology toward the automation of business transactions and workflow. From a service perspective, e-commerce is a tool to cut service costs while improving the quality of goods and increasing the speed of service delivery. From an online perspective, e-commerce provides the capability of buying and selling products and information on the Internet and other online services. This project considers electronic commerce as the process of buying, selling, or exchanging of products, service, and information by various agents via computer networks including Internet. As such one can study the structure and mechanism of electronic commerce from an economic perspective. In electronic commerce setting, a new market order has...
Words: 3377 - Pages: 14
