Flipkart Internet Pvt Ltd
Indian ecommerce market could outpace more mature markets to become the third largest market in the world with US$ 350 billion by 2030.
Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal. It is one of India’s leading E-commerce marketplaces and is headquartered in Bengaluru. The company initially started as an online bookstore. Later, it also started selling other items such as movies and mobile phones. Now the company offers more than 80 million products spread across more than 80 categories. It has the capacity to delivery eight million shipments per month.
Flipkart Group raised an additional US$ 1.2 billion from Walmart-led investor group in July 2020. Its valuation has reached US$ 24.9 billion post equity round. Flipkart has pledged to completely transition to electric vehicles (EVs) by 2030 across its E-commerce value chain by partnering with Climate Group’s global electric mobility initiative, EV100.
- India’s leading E-commerce marketplace
- 100 million registered users
- 21 state-of-the-art warehouses
- 10 million daily page visits
- Total income of Flipkart India Pvt Ltd stood at Rs. 43,357 crore (US$ 5.55 billion) in FY21.
Flipkart Internet Pvt Ltd – India’s largest e-commerce firm
| Year | Milestone |
|---|---|
| 2022 |
In May 2022, Flipkart’s pay later credit facility crossed 6 million users in 7 months. In March 2022, Flipkart launched its third fulfilment centre in Amta at West Bengal’s Howrah district. |
| 2021 |
In December 2021, Flipkart and Walmart invested US$ 145 million in Ninjacart for its online grocery push. In December 2021, the government and Flipkart have signed a memorandum of understanding to increase access to Self-Help Groups. In November 2021, Rural development ministry ties up with Flipkart to sell products made by artisans. In October 2021, Flipkart's Big Billion Days report shows a 55% increase in new sellers and a 1.3x increase in kiranas. In September 2021, Flipkart launched a programme to spot and build direct-to-consumer (D2C) brands on its platform through a service-fee model. In September 2021, Flipkart announced to create direct seasonal employment for >115,000 people, of which 15% comprise women and people with disabilities. In June 2021, Flipkart announced its partnership with the Telangana government to deploy drones to deliver medical supplies in remote areas amid the COVID-19 pandemic. In June 2021, Flipkart wholesale joined forces with Ace Turtle, an omnichannel enablement platform, to secure licensing rights for Toys“R”Us and Babies“R”Us. In June 2021, the company added a new fulfilment centre (FC) in Dankuni, West Bengal. The FC is spread across 2.2 lakh sq. ft. and has a potential to create ~3,500 direct jobs. Flipkart signed a MoU with Jharkhand government and Federation of Indian Chambers of Commerce and Industry (FICCI) to build infrastructure and industrial development, including social development. |
| 2020 |
On October 23, Flipkart acquired a 7.8% stake in Aditya Birla Fashion and Retail, a subsidiary of the Aditya Birla Group, for Rs. 1,500 crore (US$ 203.8 million). Flipkart recorded 110 order placements per second during their annual Big Billion Days Sale event in October. The company stated that >50% orders were from Tier III cities and beyond. Flipkart partnered with PayTM for its annual Big Billion Days Sale event, offering customers the convenience of making payments directly through the application with the bonus of receiving PayTM cashbacks over and above Flipkart discounts. On September 08, 2020, Flipkart signed an MoU with the Government of Jharkhand to onboard Jharkhand’s artisans, weavers and craftsmen onto ‘Flipkart Samarth’—an initiative aimed at enabling and handholding craftsmen from across India to set up an online business. Flipkart started wholesale e-commerce service in India. Flipkart aims 100% transition to electric vehicles in next 10 years. On July 09, 2020, Flipkart Group bought a minority stake in Arvind Youth Brands, a subsidiary of Arvind Fashions Ltd (AFL), for Rs. 260 crore (US$ 36.88 million) Introduced voice assistant to help customers buy groceries |
| 2019 |
Launched smart assistive feature called Flipkart Saathi Launched its online grocery store, ‘Supermart’, in Mumbai Flipkart signed memorandum of understanding (MoU) with the Government of Jharkhand to launch Flipkart SAMARTH Flipkart brought US brand Nautica onboard to tap Indian fashion market |
| 2018 |
Walmart acquired 77% stake in Flipkart for Rs. 111,824 crores (US$ 16 billion) Launched fund to invest in early stage start-ups to seed innovation in areas related to E-commerce ecosystem |
| 2017 |
PhonePe crosses 10 million download on Google Playstore. Softbank Vision Fund invested in Flipkart after which Flipkart had in excess of US$ 4 billion of cash on its balance sheet |
| 2016 |
Crossed 100 million registered customers. Acquire Unified Payment Interface (UPI) based startup PhonePe. It also Launched PhonePe, India’s first UPI based app. |
| 2014 |
Flipkart became the first Indian internet retailer to register US$ 1.9 billion gross merchandise value (GMV). Acquired fashion e-seller Myntra. |
| 2013 |
Launched PayZippy, an online payments solution for merchants and customers. Sold 100,000 books in a single day. |
| 2012 |
Launched lifestyle and fashion portfolio. Launched electronics private label DigiFlip. |
| 2011 |
Launches digital wallet. Delivery to more than 600 cities in India. |
| 2010 |
Launched Music, Movies and Mobiles category. Launched cash on delivery. Flipkart also launched its logistic arm, Ekart |
| 2007 |
Founded in 2007 and launched books. |
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