Company Flipkart Pvt. Ltd.
Funding till date $10.8 billion
Scale of business
₹34,610 crore Revenue in FY20
31.9% Market share in online retail as of October 2020, according to Forrester Research
To become the No. 1 e-commerce platform across categories
INDIA’S FIRST UNICORN, now owned by brick-and-mortar retail giant Walmart since 2018, will be forever etched in India’s entrepreneurial history for envisaging and sowing the seeds of a vibrant e-commerce ecosystem. The founders, Sachin Bansal and Binny Bansal are not in the saddle anymore, but their conviction and doggedness saw Flipkart survive and thrive through the challenges that came it's way. With a turnover of ₹34,610 crores in FY20, Flipkart is now India’s largest online retailer and continues to give American giant Amazon a run for its money. While the jury is still out on who will win the retail war, Flipkart, for now, seems to have the edge.
There was no Eureka moment in the journey of Flipkart. Though the business of selling books online back in 2007 seemed to be the best idea ever, it was not the original idea, to begin with! We were initially looking to build a site that rates e-commerce platforms, and that’s when we realized that customers were not happy with any of the sites. That sort of became the idea — build a site where Indians would love to shop! The key decision we took was to stick to one category— books — for two-three years. The choice of focusing on doing one thing well helped us a lot. It allowed us to create the best end-to-end customer experience — right from how you search, how you buy, how it gets delivered and customer service.
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