Flipkart is India’s largest e-commerce marketplace with a registered customer base of over 100 million. In the 10 years since it started, Flipkart has come to offer over 80 million products across 80+ categories including Smartphones, Books, Media, Consumer Electronics, Furniture, Fashion and Lifestyle. Launched in October 2007, Flipkart is known for its path-breaking services like Cash on Delivery, No cost EMI and a 10-day replacement policy. Flipkart was the pioneer in offering services like In-a-Day Guarantee (65 cities) and Same-Day-Guarantee (13 cities) at scale. With over 1,00,000 registered sellers, Flipkart has redefined the way brands and MSME’s do business online.
Flipkart Private Limited, Flipkart is an Indian e-commerce company based in Bengaluru, India. It was founded by Sachin Bansal and Binny Bansal in 2007. The company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion, and lifestyle products.
The service competes primarily with Amazon’s Indian subsidiary, and the domestic rival Snapdeal. As of March 2017, Flipkart held a 39.5% market share of India’s e-commerce industry. Flipkart is significantly dominant in the sale of apparel (a position that was bolstered by its acquisitions of Myntra and Jabong.com), and was described as being “neck and neck” with Amazon in the sale of electronics and mobile phones. Flipkart also owns PhonePe, a mobile payments service based on the Unified Payments Interface (UPI).
In August 2018, U.S.-based retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing it at $20 billion.
In a report dated 25 November 2014, a leading media outlet reported that Flipkart were operating through a complex business structure which included nine firms, some registered in Singapore and some in India. In 2012, Flipkart co-founders sold WS Retail to a consortium of investors led by Rajeev Kuchhal.