November 14, 2014 0 Comments
Flikart’s mega success Founded in 2007 by brothers and former Amazon India employees, Sachin and Binny Bansal, Flipkart started out as a price comparison portal, only back then there weren’t many ecommerce websites to compare, so Sachin and Binny decided to make Flipkart an ecommerce site for books. With just a little over USD$8,000 as initial capital, the Bansal brother launched in their apartment, Flipkart’s basic website in 2007 offering an initial 50,000 titles. From 50,000 titles, their catalog quickly grew to 100,000 titles. Soon, they expanded their product line and started offering electronics, home appliances, e-books and lifestyle products. And the rest, as they say, is history. From a staff of two, the company now employs more than 9,000 people and is now considered one of the valuable startups in the world valued at a whopping $7 bn. Flipkart is also one of the most massively funded startups in the world, with a recent $1bn investment from international firms such as, Digital Sky Technologies, Sofina, GIC, Morgan Stanley, Accel Partners, DST Global.
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