Ever since the collaboration between Walmart and Flipkart, many debates and queries have been woken. Walmart has spent around $16 billion in order to acquire an Indian E-commerce company- Flipkart. However, many Indians have been saying Flipkart shouldn't have sold to an American company.
Flipkart holds the position of a very strong E-commerce company that has grown massively in the past 12 years. It acquires almost 31% of market shares being the most preferred E-commerce company in India.
The co-founder of Flipkart, Sachin Bansal is off to a subtle exit with 5.5% shares worth $1 billion. On the other hand, Google has been planning to sway its 7% stake in the advanced commodity.
With these vast hearings about the most preferred e-commerce platform- Flipkart, we have brought some very rare facts about the company as well as its founders that are quite interesting. Let's get started!
The well-planned beginning of Flipkart
Flipkart's Logo logic
The un-familiar bond of Bansals
The First Order on Flipkart
Denial didn't break the founders of Flipkart
Distinctive Views of Co-founder
Divastri
FAQ
The well-planned beginning of Flipkart
When people say that Flipkart came out as a surprise, this is absolutely untrue. The beginning of an online bookstore later known as Flipkart was well-planned with all the business strategies in mind.
The two alumni of IIT Delhi, Sachin Bansal and Binny Bansal planned this company thoroughly. The co-founder of Flipkart has also worked together at Amazon which turned out to be the biggest competitor of Flipkart in the market. They then left Amazon and fabricated their own E-commerce bookstore company- Flipkart.
Flipkart's Logo logic
The name Flipkart was chosen very strategically as it means, ‘Flipping items into cart’. Flipkart brandishes a distant ‘f’ letter in blue shading drawn on a yellow-hued shopping bag. Behind the letter ‘f’, speed lines are drawn. The logo resembles a positive as well as speedy assistance. While the yellow hues resemble vitality, creativeness and inclusivity.
The un-familiar bond of Bansals
Most people get tricked by the surnames of the co-founders of Flipkart; both being Bansal. They often connect the co-founders as blood relatives. But, to the best of my knowledge, this is entirely untrue! Sachin Bansal and Binny Bansal do belong to the same city- Chandigarh but, Bansals are not related anyhow.
They went to the same schools but were not very good friends. Later they went together to IIT-Delhi and worked at Amazon together. Well, they were pretty amazing at IIT and Amazon both and counted among the best performers.
They both left Amazon and started their own India’ online bookstore website and founded Flipkart.
The First Order on Flipkart
When Sachin Bansal and Binny Bansal successfully launched their online bookstore website- Flipkart.com. The first-ever order was of a book 'Leaving Microsoft to Change the World' by John Wood.
Very few know that the packaging of that very first order was done by Sachin Bansal and Binny Bansal acted out as the delivery boy. In fact, in an interview they told, they used to write fake reviews of the books on their website to gather the interest of new eyes. Interestingly, this worked for them pretty well!
Denial didn't break the founders of Flipkart
When Sachin Bansal and Binny Bansal worked over the idea of Flipkart, many investors rejected their business model. Many resources said Binny Bansal, went with the idea of Flipkart twice to Google but unfortunately, he was rejected both times.
Sachin Bansal and Binny Bansal completed their education together, but the idea of Flipkart never crossed their minds. It was when they joined Amazon with a year of difference that Sachin joined in 2006 while Binny in 2007. They worked on their business model and faced many rejections. But they stood by their idea and made Flipkart one of the biggest E-Commerce platforms in India.
One in a Million
Flipkart encountered enormous success. It became the first-ever Indian digital app to reach more than 50 million users in 2016. It is one of the most preferred and visited websites in India. It is quite remarkable that Flipkart receives over 13 million visitors per day.
Regularly, Flipkart sells over 80 million products. Flipkart is termed as India's Alibaba with an annual turnover of $1.5 billion.
Distinctive Views of Co-founder
As Sachin and Binny Bansal developed this massive company all by themselves, many consider them as one mind. But to great knowledge, the co-founders of Flipkart are everything but alike.
Sachin Bansal is known to be a brilliant as well as a very passionate game player. If one can ever beat Sachin in his game, he/she is treated to a lavish dinner. However, it's nearly impossible to beat Sachin, especially the one he is best at.
However, Binny Bansal carries an entirely different personality. He is fond of nature and loves to travel. Most of all, his adventurous ride in the water-rafting is quite fascinating.
Divastri
Flipkart has grown enormously and with this development, it has launched its brands. Well, this is true! The co-founder of Flipkart has recently made its decision and launched its first-ever private label fashion brand called- Divastri, which is a women's fashion brand.
Conclusion
Since the cooperation with Walmart, the online shoppers are receiving really some pretty fascinating offerings and deals from Walmart. This is known as its 'Everyday Sale Business Model'.
Indian commerce has been depicted pretty amazingly in the eyes of foreign markets. Flipkart's strong upholding in the Indian market is known and captivated by everyone. And this boldness of Flipkart is what attracted a foreign company, Walmart who spent around $16 billion to gain this prominent E-commerce website.
And with the lots of news here, in this article, we had discussed some very interesting and lesser-known facts about Flipkart. Stay tuned for more updates.
FAQ
When was Flipkart founded?
Flipkart was founded by Binny bansal and Sachin bansal on October 2007.
Who is the Flipkart CEO?
Kalyan Krishnamurthy is the current CEO of Flipkart.
What is the revenue of Flipkart?
the revenue of Flipkart is approximately 346 billion Indian rupees.
Author: Pratyusha Srivastava
Source : https://startuptalky.com/flipkart-unknown-facts/
Date : 2021-07-06T10:30:00.000Z