94110493-91480464-Flipkart-Report

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INTRODUCTION Flipkart is an Indian e-commerce company headquartered in Bangalore, Karnataka. It’s being touted as India’s answer to Amazon. Founded by Sachin Bansal and Binny Bansal (not related to each other) in Oct 2007, Flipkart has catapulted to one of India’s most popular e-commerce sites and undoubtedly as the most popular online destination for books within a short span of three years. History Flipkart was established in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian In
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  I NTRO DUC TIO N Flipkart is an Indian e-commerce company headquartered in Bangalore, Karnataka. It’sbeing touted as India’s answer to Amazon. Founded by Sachin Bansal and Binny Bansal(not related to each other) in Oct 2007, Flipkart has catapulted to one of India’s most popular e-commerce sites and undoubtedly as the most popular online destination for books within ashort span of three years. Hi story Flipkart was established in 2007 by Sachin Bansal and Binny Bansal, both alumni of theIndian Institute of Technology Delhi. They worked for Amazon.com before quitting andfinding their own company. Initially they used word of mouth marketing to popularize their company. A few months later, the company sold its first book on flipkart.com - John Woods'Leaving Microsoft to Change the World. Today, as per Alexa traffic rankings, Flipkart isamong the top 30 Indian web sites and has been credited with being India's largest onlinebookseller with over 11 million titles on offer. Flipkart broke even in March 2010 and claimsto have had at least 100% growth every quarter since its founding. The store started withselling books and in 2010 branched out to selling CDs, DVDs, mobile phones & accessories,cameras, computers, computer accessories and peripherals, pens & office supplies, other electronic items such as home appliances, kitchen appliances, personal care gadgets, healthcare products etc. Interesting Statistics about the company ã    As of today, Flipkart employs over 4500 people ã   It experiences 2 million unit sales and 4 million unique visitors per month with salesgrowing at 25% per month, eyeing a $50 million run rate ã   With close to 11.5 million titles, Flipkart is the largest online book retailer in India with 80per cent market share ã   It has a registered user base of two million customers and ships out as many as 30,000items a day, clocking daily sales of Rs 2.5 crore ã   Flipkart is rapidly expanding its network of warehouses, distribution centers, procurementoperations and 24/7 customer support teams. The company even has its own deliverynetwork in 27 cities and is set to expand this even further by next year    What sets it apart? With path-breaking features like Cash/Card on Delivery, 30 Day replacement policy and EMIoptions, Flipkart has now made it possible for anyone across the country with internetaccess to shop online. The Flipkart experience is characterized by the intuitive user   interface, free shipping and low prices. As a testimony to the superior customer experience,the company has consistently recorded repeat purchase rates of more than 70%. Funding The company was initially self-funded, with co-founders Sachin and Binny Bansal spendingRs 400,000 ($9056) to setup the business. They later raised two rounds of funding from Accel Partners and Tiger Global Management to the tune of $31 million, with the first roundbeing around $10 million and the second round being $20 million Ac qui sitions 2010WeRead2011Mime3602011Chakpak.com2012Le t sBuy.com 2010 WeRead, a social book discovery tool. The stated goal was to give Flipkart a socialrecommendation platform for buyers to make informed decisions based onrecommendations from people within their social network. 2011 Mime360, a digital content platform company. 2011 Chakpak.com is a Bollywood news site that offers updates, news, photos and videos.Flipkart acquired the rights to Chakpak’s digital catalogue which includes 40,000filmographies, 10,000 movies and close to 50,000 ratings. Flipkart has categorically said thatit will not be involved with the srcinal site and will not use the brand name.  2012 Letsbuy.com is India's second largest e-retailer in electronics. Flipkart bought the companyfor an estimated US$ 25 million Busi ness Result s Flipkart's reported sales were 4 Crore in FY 2008-2009, 20 Crore in FY 2009-2010 and 75Crore for FY 2010-2011. In FY 2011-2012, Flipkart is set to cross the 500 Crore (US$ 100million) mark as Internet usage in the country increases and people get accustomed tomaking purchases online. On average, Flipkart sells nearly 20 products per minute and isaiming at generating a revenue of 5000 Crore (US$ 1 billion) by 2015. Locati ons The company's headquarters is located in Bangalore's Koramangala neighbourhood. Flipkarthas offices, warehouses and customer service centres across India. Warehouses arelocated in the following cities, often near airports. ã   Bangalore, Karnataka ã   Chennai, Tamil Nadu ã   Delhi ã   Kolkata, West Bengal ã   Mumbai, Maharashtra ã   Noida, Uttar Pradesh ã   Pune, Maharashtra ã   Kochi, Kerala Products Flipkart started with selling books. In 2010, they added to their catalogue media (includingmusic, movies and games) and mobile phones & accessories.In 2011, product launches included cameras, computers, pens & office supplies, computer accessories, home and kitchen appliances, personal care, health care, gaming consoles,audio players and televisions.In November 2011, Flipkart launched a new Electronic Wallet feature that allows shoppers topurchase credit to their Flipkart account using credit or debit cards, and can subsequently beutilized to make purchases on the site, as and when required.  Later, in February 2012, the company revealed its new Flyte Digital Music Store. Flyte, alegal music download service in the vein of iTunes and Amazon.com, offers DRM-free MP3downloads. Flyte offers browse by language options where users can download internationalas well as regional songs. Flipkart has listed the music based on its genre on the new musicstore and has given a lot of variety. Users can shop for tracks from various albums startingat Rs 6 on the store.
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