Success Story Of Flipkart

 

Flipkart is among the top eCommerce websites in India setting an incredible example of the success of Indian startups. The success story of Flipkart is truly inspiring to young entrepreneurs all around the world.

 

The Beginning

 

Sachin Bansal and Binny Bansal were both pursuing B.Tech from IIT Delhi in 2005. Most students went home in summer vacations, but Sachin and Binny always stayed on campus to complete their incomplete assignments. This was the time they both met each other while working on their respective projects in the same lab.

 

Later, Sachin got employed by Techspan while Binny was employed by Sarnoff. In 2006, Sachin started working for Amazon and Binny joined him later. They quit their jobs at Amazon, pooled 4 lakh, and launched Flipkart in 2007. Initially, they started their business by selling only books on the app. There were hardly any online platforms at that time. So, they wanted to use technology to give people a better shopping experience.

 

 The Success of Flipkart

 

The initial days of the founders were not easy. Despite all hurdles, they managed to stand with 20 shipments. Within six coming years, the startup became profitable. As time passed the startup became more profitable day by day with bookselling platforms. Further, Cash on Delivery was introduced because customers were not ready to pay before their products. The customers loved this feature and the company got fame. From 40 million rupees revenue in 2009 to 750 million rupees in 2011, Flipkart expanded its revenue. 

 

After this, it became unstoppable. In 2014, they bought 2000 crore INR Myntra, an online shopping company. In 2018, Walmart bought Flipkart for $16 million with a 77% equity.

 

Even after the founders have left the company, the company wouldn’t have reached where it stands today. They understood the customers psychology and presented what they wanted.