⇞⇞

ORIGIN OF FLIPKART

        "ALL OUR DREAMS CAN COME TRUE- IF WE HAVE THE COURAGE TO PURSUE THEM "                                                                                                             

 FLIPKART IS ONE OF THE  COMPANY WHO DID FULL JUSTICE TO THIS QUOTE.               

FLIP KART WAS AN ELECTRONIC COMMERCE COMPANY BASED IN BENGALURU INDIA.THE COMPANY WAS FOUNDED BY 2 I.I.T DELHI STUDENTS NAMED SACHIN BANSAL AND BINNY BANSAL IN 2007 WHO MADE US ALL REALIZE THAT ITS JUST NOT MONEY THAT GIVE DIRECTION TO YOUR PASSION BUT ITS THE ZEAL,DILIGENCE,HARDWORK AND  ENTHUSIASM YOU HAVE FOR A FIELD.THAT GIVE TRUE DIRECTION.
FROM SELLING BOOKS ONLINE TO STRIKING JAW DROPPING $16 BILLION DEAL,WITH THE WORLD LARGEST RETAILER,WALMART ALL WITHIN 4 YEARS.FLIPKART HAS GIVEN INDIA A BIG START UP SUCCESS STORY-THE ONE WHICH IS LIKELY TO BE QUOTED BY STARRY EYED ENTERPRENEURS FOR YEARS TO COME.
IT WASN'T AN EASY ROAD AS INTERNET PENETRATION WAS ABYSMALLY  LOW AND E-COMMERCE,UNHEARD OF.  YET FLIPKART NOT ONLY SURVIVED BUT BECOME A VALUABLE COMPANY TO BE FRIEGHTENED OF.

EVOLUTION OF FLIPKART IN 10 YEARS 

JUST LIKE AMAZON FLIPKART INITIAL FOCUS WAS ON BOOKS SALES BUT LATER EXPLORED CATEGORIES SUCH AS CONSUMER ELECTRONICS,FASHION AND LIFESTYLE PRODUCTS.

• FLIPKART SLOWLY GREW IN PROMINENCE AS BY 2008 IT WAS RECEIVING 100 ORDERS PER DAY
• IN 2010 FLIPKART ACQUIRED THE BANGLORE BASED SOCIAL BOOK DISCOVERY DERVICE WE READ FROM LULU.COM
• LATE 2011 FLIPKART SARTED MAKING SEVERAL ACQUISITION RELATION TO DIGITAL DISTRIBUTION INCLUDING MIME 360.COM AND DIGITAL CONTENT LIBRARY OF BOLLYWOOD PORTAL CHAKPAK.
• FEB2012 COMPANY UNVEILED  ITS DRM-FREE ONLINE MUSIC STORE CALLED FLYTE .HOWEVER THE SERVICE WAS UNSUCCESSFUL DUE TO COMPETITION FROM FREE STREAMING SITES ,THUS IT WAS FORCED TO   SHUT DOWN.
• IN MAY 2012 FLIPKART ACQUIRES LETSBUY AN ONLINE ELE OCTRONIC RETAILER.NLINE FASHION RETAILER FOR 20 BILLION(U.S 300 MILLION).
• IN MAY 2014 FLIPKART ACQUIRED MYNTRA, AN ONLINE FASHION RETAILER FOR 20 BILLION(U.S 300 MILLION).MYNTA CONTINUED  TO WORK ALONGSIDE AS "FASHION CONSCIOUS MARKET"
• .IN FEB 2014 FLIPKART PARTNERED WITH  MOTOROLA MOBILITY TO BE THE EXCLUSIVE INDIAN RETAILER OF ITS MOTO-G SMART PHONES,LATER MOTOROLA ALSO PARTNERED WITH FLIPKART ON MOTO E .
• IN JULY 2014 FLIPKART SUBSEQUENTLY HELD EXCLUSIVE INDIAN LAUNCHES FOR OTHER SMARTPHONES INCLUDING XIOAMI,MI3 .IT HELPED FLIPKART IN INCREASING SALES AS 10000 MOBILE DECICE WERE SOLD IN 5 SECONDS.
• 6 0CT 2014 IN HONOUR OF COMPANY ANNIVERSARY FLIPKART CAME WITH "BIG BILLION DAY" SALE , BUT SOMEHOW THEY WERE CRITICIZED A LOT FOR THIS SALE .HUGE MASSES OF CUSTOMER WERE DISSATISFIED EITHER WITH THE QUALITY OR DELIVERY OF PRODUCT. SOME OF THE CUSTOMER ORDER  WERE CANCELED TOO.
• IN MARCH 2015 ,FLIPKART CAME WITH MOBILE APP CONCEPT
• NOV 2015, FLIPKART LAUNCHED A NEW MOBILE WEBSITE BRAND AS "FLIPKART LITE" .
• SO THAT FLIPKART COULD ENHANCE ITS SALE FLIPKART FOCUSED ON IMPROVING MOBILE SERVICES ,FOR THIS REASON FLIPKART ACQUIRED AAPITERATE  ,A DELHI BASED MOBILE MARKET AUTOMATION FIRM IN APRIL 2015
• OCT 2015 FLIPKART REVISED ITS"BIG BILLION DAY" SALE EXCLUSIVE TO APP USERS.
• FLIKART ACHIEVED A GROSS MERCHANDISE VOLUME OF US $300 MILLION  DURING THE EVENT LARGEST VALUE COMING FROM FASHION AND MOBILE SALES.
• IN FEB 2015 FLIPKART PURCHASED STAKE IN DIGITAL MAPPING PROVIDER MAP MY INDIA.
• IN 2016 FLIPKART ACQUIRED ONLINE RETAIL JABONG.COM FROM ROCKET INTERNET FOR US$ 70 MILLION,AS WELL AS UPI PAYMENT STARTUP PHONEPE.
• IN JAN2017 FLIPKART INVESTED U.S 2 MILLION $ IN TINY STARTUP ,A PARENTING INFORMATION STARTUP.
• IN APRIL 2017 EBAY ANNOUNCED TO SELL ITS INDIAN SUBSIDARY TO FLIPKART AND MAKE A U.S 500 MILLION$ CASH INVESTMENT TO COMPANY,BUT PLAN NEVER CAME TO FRUITION.
• LATER AT JULY 17 FLIPKART MADE OFFER TO ITS MAIN DOMESTIC COMPITER OF AROUND 700-800 MILLION $ WHICH WAS LATER REJECTED BY THE COMPANY,WHILE WAS SEEKING AT LEAST U.S $1 BILLION.
• FLIPKART HELD 51% SHARE OF ALL INDIAN SMARTPHONES IN 2017,OVERTAKING AMAZON INDIA(33%)
• FLIPKART SOLD 1.3 MILLION PHONES IN 20 HOURS ON 21 SEPTEMBER.
• LATER ON 2018 A BIDDING WAR WAS GOING ON BETWEN 2 MOST COMPETITIVE COMPANY AMAZON AND WALMART,WALMART WANTED TO ACQUIRE A 77% CONTROLING STAKE IN FLIPKART FOR $16 BILLION ,WHICH WAS LATER ACCEPTED BY FLIPKART AND OFFICIALLY ANNOUNCED BY WALMART ON 4 MAY 2018.
• FOLLOWING THE PURPOSED PURCHASE, FLIPKART FOUNDER SACHIN BANSAL LEFT THE COMPANY WHILE REMAINING ARE SUBJECTED TO REPORT MARC LORE ,CEO OF WALLMART E COMMERCE.

CRITICISM FACED BY FLIPKART

• ON 13 SEP2014 DELIVERY BOY OF FLIPKART WAS FOUND MOLESTING A HOUSEMAID IN HYDERABAD
• "BIG BILLION DAY" SALE WAS NOT WELCOMED BY CUSTOMER WARMLY BECAUSE OF ISSUES LIKE DEFECTIVE PRODUCT,SHIPPING PROBLEM OR OUT OF STOCK PRODUCT.
• FLIPKART WAS NOT ABLE TO KEEP UP WITH FAIR POLICY FOR CUSTOMERS AS HIS STRONG COMPETITOR AMAZON WAS ON THE MARKET WHO ENSURED PRIOR CUSTOMER SATISFACTION.
• LACK OF COMPETNT LOGISTIC AND CUSTOMER FRAUD WAS WITNESSED.
• UNDERESTIMATED THE INNOVATION ASPECT .

FLIPKART CONVERTED THEIR START UP JOURNEY FROM 4 LAKH IN 2007 TO E COMMERCE GIANT VALUED AT RS 1.47 LAKH CRORE.SINCE THE START OF 2018,FLIPKART HAS ALREADY SEEN SEVERAL MILESTONE-A NEW CAMPUS AT EMBASSY TECH VILLAGE,THE SUCCESFUL ONBOARDING OF OVER 1,30,000 THIRD PARTY SELLERS,AND EXPANDING ITS PRODUCT CATALOGUE TO HOUSE OVER 80 MILLION PRODUCTS-CULMINATING IN THE WALMART ACQUISITION.WHERE THE COMPANY GOES FROM HERE IS ANYBODY'S ISSUE,BUT IF THE LAST 10 YEARS ARE ANY INDICATION,FLIPKART SURELY HAS BIG THINGS IN ITS FUTURE.