Success Story of Flipkart
A quick look at a Success Story of Flipkart that shows an idea of breaking the road in the heart of history. Flipkart is no exception. It is not the idea itself, but the conviction of transforming ideas into action and action into results is what sets a true story of success. Measured by this criterion, Flipkart has been a great success.
Success Story of Flipkart history Back in 2007, when Flipkart was launched, the Indian e-commerce industry was taking its steps for beginners. The company is registered in Singapore, but its head office is in Bangalore, India.
Sachin Bansal and Binny Bansal and Binny Bansal baansalSachin, who worked for Amazon.com, had the idea of starting an e-commerce company in India.
Both are graduates of IIT, Delhi and Chandigarh are native to India. They left their jobs on Amazon to start their business.
One can easily call a risky move. In a country where people have different tastes and preferences, an e-commerce startup will always have huge challenges.
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In India, people often prefer buying and purchasing products that they see and love. Today, thanks to Flipkart, e-commerce has become one of the fastest growing sectors in India.
How it started
Flipkart has begun selling books, to begin with. It soon expanded and started offering a wide range of products. Innovating from the beginning, Flipkart has been home to some of the incredible features of Indian Electronic Commerce.
Success Story of Flipkart in the early years of its existence, Flipkart raised funds through venture capital financing. The development of the company of stature, the arrival of other funds. Faith Flipkart paid investors with excellent results year after year.
In the financial year 2008-09, Flipkart recorded sales for the sum of 40 million Indian Rupees. However, as of February 2016, according to Morgan Stanley, its estimated value is 11,000 million euros.
Success Story of Flipkart evolution Back is currently launching Flipkart, all e-commerce companies have faced two major difficulties. One was the problem of online payment gateways.
Not many people preferred online payment gateways and were not easy to configure. Flipkart faced this problem by introducing cash to delivery and delivery payment cards, more.
Success Story Of Flipkart was the first to implement the popular ‘payment to delivery’ installation, every online shopping website in India offers as an option today.
Flipkart headofficeThe second problem was the entire supply chain system. Delivering goods on time is one of the most important factors that determine the success of an e-commerce company.
Flipkart tackled the issue by launching its own supply chain management system to deliver orders in a timely manner.
Today, Sachin Bansal is the chairman of the company and Binny Bansal is Flipkart’s CEO.
Success Story Of Flipkart also acquired some companies such as Myntra.com, LetsBuy.com etc., to improve their presence on the market. With the entry of Amazon.com in India, competition between companies has seen many acquisitions.
Flipkart’s journey from a small e-book dealer to the largest e-commerce platform in India inspired a generation of new businesses. In a country where stereotypes are common, Flipkart has been able to break the rule and change the e-commerce industry in India forever.
Flipkart’s story shows that if you have a great idea, and you’re a man of action, you’re not a thinker, success is not far away.