• Provide a brief overview of Flipkart.

    • Mention its founding date and founders.

History of Flipkart

Flipkart, founded in October 2007, by Sachin Bansal and Binny Bansal, started as an online bookstore in Bengaluru, India. The company initially operated as an e-commerce platform focusing on book sales. However, recognizing the potential of e-commerce in India, Flipkart quickly expanded its product categories to include electronics, fashion, and various other consumer goods.

Key milestones in Flipkart’s history:

2007 – Founding:

Sachin Bansal and Binny Bansal, both former employees of Amazon, founded Flipkart with the goal of creating a comprehensive online marketplace.

2008 – Diversification:

Flipkart expanded beyond books to include products like electronics, clothing, and accessories, broadening its offerings.

2010 – Cash-on-Delivery Introduction:

Flipkart introduced Cash-on-Delivery (COD), a payment method that significantly boosted consumer trust and convenience, especially in a market with low credit card penetration.

2014 – Big Billion Day:

Flipkart launched its first “Big Billion Day” sale, aiming to provide significant discounts and offers, which garnered attention and both praise and criticism for its scale and impact on the e-commerce landscape.

2014 – Acquisitions:

Flipkart made strategic acquisitions, including Myntra, a fashion e-commerce platform, and PhonePe, a mobile payments company, to strengthen its position in specific market segments.

2018 – Walmart Acquisition:

Walmart acquired a majority stake in Flipkart, valuing the company at around $16 billion. This marked one of the largest e-commerce acquisitions globally.

2020 – Relaunch of Flipkart Wholesale:

Flipkart launched “Flipkart Wholesale” to cater to the needs of small businesses and retailers, providing a platform for bulk purchasing of goods.

2021 – IPO Plans:

Flipkart announced plans for an initial public offering (IPO) to go public and list on the stock exchange.

Additional details:

    • Founded: 2007

    • Headquarters: Bangalore, India

    • Mobile app: Available for Android and iOS devices

    • Social media: Active on Facebook, Twitter, Instagram, and YouTube

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