FLIPKART LTD

COMPANY NAME FLIPKART LTD
NATURE OF BUSINESS ONLINE SHOPPING
ISIN NO INE : 075 T01014
FACE VALUE Rs.10/-
PROMOTERS SACHIN BANSAL / BINNY BANSAL
COMPANY WEBSITE www.flipkart.com
flipkart-logo

Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal, who were both alumni of the Indian Institute of Technology Delhi and formerly worked for Amazon. The company initially focused on online book sales with country-wide shipping. Following its launch, Flipkart slowly grew in prominence; by 2008, it was receiving 100 orders per day. In 2010, Flipkart acquired the Bangalore-based social book discovery service we Read from Lulu.com.

In late 2011, Flipkart made several acquisitions relating to digital distribution, including Mime360.com and the digital content library of Bollywood portal Chakpak.In February 2012, the company unveiled its DRM-free online music store

In May 2012, Flipkart acquired Letsbuy, an online electronics retailer. In May 2014, Flipkart acquired Myntra, an online fashion retailer, for ₹20 billion (US$280 million). Myntra continues to operate alongside Flipkart as a standalone subsidiary; the site focuses on an upscale, “fashion-conscious” market, while Flipkart itself focuses on the mainstream market and major international brands.

Flipkart acquired Appiterate, a Delhi-based mobile marketing automation firm. Flipkart stated that it would use its technology to enhance its mobile services.  Flipkart purchased a minority stake in the digital mapping provider MapmyIndia. The company stated that it would licence its data to help improve delivery logistics. Flipkart made an offer to acquire its main domestic competitor, Snapdeal, for around US$700–800 million. It was rejected by the company, which was seeking at least US$1 billion.

The acquisition was completed on 18 August 2018. Walmart also provided US$2 billion in equity funding to the company.

Flipkart Marketplace is India’s leading platform for selling online. Be it a manufacturer, vendor or supplier, simply sell your products online on Flipkart and become a top e-commerce player with minimum investment & focuses on empowering sellers across India.Selling on Flipkart.com is easy and absolutely free.

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