 Flipkart logo | |
| Type | e-commerce |
|---|---|
| Industry | Online shopping |
| Founded | Bangalore, India (September 2007) |
| Headquarters | Bangalore, India |
| Number of locations | 3 warehouses , offices and delivery centers (2011) [1] |
| Area served | India |
| Key people | Sachin Bansal and Binny Bansal |
| Revenue |   75 Crore (FY 2010-11) [2] |
| Employees | 3000 (October 2011)[1] |
| Subsidiaries | WeRead, Mime360 |
| Website | www.flipkart.com |
History
Flipkart was established by Sachin Bansal and Binny Bansal both are alumni of Indian Institute of Technology Delhi and worked for Amazon.com before quitting and founding their own company.
Initially they used word of mouth 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.
Within two years through word of mouth of their services, Flipkart became one of the top 100 Indian sites and was credited for being India's largest online bookseller with over 7 million titles on offer.
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,cameras and other electronic gadgets. As of today, Flipkart employs over 3000 people.
Funding
Initially funded by the Bansals themselves with 4 Lakh, Flipkart has since then raised two rounds of funding from venture capital funds Accel India (in 2009) and Tiger Global Management (up to the tune of US$10 million) (in 2010).
4 Lakh, Flipkart has since then raised two rounds of funding from venture capital funds Accel India (in 2009) and Tiger Global Management (up to the tune of US$10 million) (in 2010).Acquisitions
- 2010: WeRead, a social book discovery tool. The stated goal was to give Flipkart a social recommendation platform for buyers to make informed decisions based on recommendations from people within their social network.
- 2011: Mime360, a digital content platform company.
- Locations
The company's headquarters is located in Bangalore's Koramangala neighborhood. Flipkart has offices, warehouses and customer service centers across India. Warehouses are located in the following cities, often near airports.
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