Flipkart‘s Success Story: How Two Brothers Built a $24 Billion E-Commerce Giant

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Flipkart, founded in 2007 by Sachin Bansal and Binny Bansal, is India's leading e-commerce platform. Originally established as an online bookstore, Flipkart rapidly diversified its offerings, becoming a comprehensive marketplace for a wide range of products.

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2007: Foundation and Inception

Founding: Sachin Bansal and Binny Bansal, former employees of Amazon, founded Flipkart in October 2007, starting as an online bookstore.

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2008-2010: Diversification and Early Growth

– Expansion: Flipkart expanded its product categories beyond books to include electronics, clothing, and more. – Funding: The company secured funding from venture capital firms, supporting its expansion.

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2011-2013: Consolidation and Mobile App Launch

– Acquisitions: Flipkart acquired companies like Mime360 and Letsbuy, enhancing its offerings. – Mobile App: The launch of the Flipkart mobile app catered to the growing trend of mobile commerce.

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2014-2016: Funding Boost and Strategic Acquisitions

– Major Funding: Flipkart secured significant funding rounds, becoming one of the most valuable startups globally. – Acquisitions: Acquired Myntra to strengthen its position in the fashion e-commerce segment.

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2017-2019: Leadership Changes and Walmart Acquisition

– Flipkart celebrated 10 years with $1.4 Billion in Investments – CEO Change: Co-founder Binny Bansal resigned; Ka lyan Krishnamurthy took over as the CEO. – Walmart Acquisition: Walmart acquired a majority stake in Flipkart in a landmark deal in 2018.

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2020-2021: Continued Expansion and IPO Plans

– Strategic Partnerships: Flipkart continued to forge partnerships, including tie-ups with retail chains. – IPO Plans: Reports indicated Flipkart's plans for an initial public offering (IPO) to further fuel growth.

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