flipkart beginning

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Flipkart was founded in 2007 in Bangalore, India by Sachin Bansal and Binny Bansal, both graduates of IIT Delhi. It is one of India's largest e-commerce companies. Sachin Bansal oversees customer-facing operations while Binny Bansal manages fulfillment. Flipkart was initially self-funded and later raised money from Accel India and Tiger Global Management. It has grown significantly due to initiatives like cash-on-delivery and a robust logistics network across India.

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flipkart beginning

2. Introduction  Flipkart is an Indian e-commerce retail company. • It is one of the leading e-commerce players in the country. • Founded by Sachin bansal & Binny bansal in Bangalore, Karnataka in 2007. • Incorporated as a company in October 2008 as Flipkart Online Services Pvt. Ltd.

3. Founders

4. Sachin Bansal  CEO and Co-founder  Graduated from IIT-Delhi with a degree in Computer Engineering.  In 2006 he joined Amazon.com in India which he later left to set-up Flipkart.  Oversees all the customer facing activities of the company ranging from technology to marketing.  He is also in charge of Flipkart's corporate divisions which include the finance and legal departments.

5. Binny Bansal  Co-founder.  Born and raised in Chandigarh.  Computer Engineering from IIT Delhi.  Worked with Amazon before taking the entrepreneurial plunge with Flipkart.  Oversees all operational activities that come into play from the time the customer places an order till the time of delivery.  Warehousing, logistics and customer support.

6. Funding • Initially funded by the Bansals themselves with 4 Lakhs(INR). • Flipkart has since then raised two rounds of funding from venture capital funds Accel India (in 2009) and Tiger Global Management (up to the tune of US$10 million) (in 2010). • Private equity firms Carlyle and General Atlantic are in talks to jointly invest about $150 million to $200 million in Flipkart, according to sources. .

7. Awards & Recognition  Sachin Bansal got Entrepreneur of the Year Award 2012-2013 from Economic Times.  Flipkart.com was awarded Young Turk of the Year at CNBC TV 18’s ‘India Business Leader Awards 2012’ (IBLA).  Flipkart.com, secured second position in the List of Cheapest Mobile Store 2013, compiled by Indian e-commerce observer Zoutons.com.

8. Acquisition

9. Value added services  Great customer service users are more satisfied as compared to competitors. Great customer service has been its hallmark.  User friendly The user interface is sleek and easy to use.  Cash on delivery Almost 60% of its sales happen through this mode. Cash on delivery created trust in the minds of Indian customers.  Replacement 30 days replacement policy.

10. Wallet  Allows shoppers to store money on the site and use it to purchase items, without having to reach for their credit card for each transaction.

11. Challenges Faced • Initially, it wasn’t easy to earn the trust of the customer. • Lack of real time interaction affects the faith of customer. • The discomfort shown by customers in revealing there financial details. • Highest number of orders get registered during weekends proves to be tough at times for logistics and customer service.  face significant challenges in reverse logistics.

12. Advertisements

13. No Kidding, No Worries

14. Results: Ad campaign  Website traffic, orders and revenue all doubled post the campaign.  Flipkart was clocking Rs 30 cr/month. By the end of the campaign they clocked in excess of Rs 60 cr each month.  Website traffic jumped to 100 lakh visits per month and 1000 lakh page views.  Today Flipkart ships close to 30,000 items every day ie 17 items every minute.

15. What makes it stand out? • A robust back-end is a vital pre-requisite for an online business to survive. • Since once the customer completes transaction, it's this back-end that connects the dots. • The purchase model is at the heart of Flipkart’s success, as most delays or troubles occur in this part of business. • Flipkart began operations on the consignment model i.e. purchase based on demand. • Goods are purchased from suppliers on demand, based on the orders received through the website.

16. Logistics

17.  Flipkart has its own warehouses, and maintains its own inventory. Warehouses:  Bangalore  Chennai  Delhi  Hyderabad  Mumbai  Noida  Pune  Kolkata  Now they're present in 27 lucky cities, but don't worry, plans are underway to spread to many others.

18. Delivery..  Flipkart is seen delivering through their own delivery boys and at times within 12hrs from order.  Dedicated Flipkart delivery team that works round the clock to personally make sure packages reach on time.

19. ‘Making better our service promise’.

20.  Flipkart connects with customers in real-time, through Facebook and Twitter.  Addressing customer concerns and owning up to our mistakes, reassure customers we have their best interests at heart.  As a customer-centric organization, none of the issues can remain unresolved for long.  The founders don't think discounts can replace the customer's satisfaction of being serviced promptly and efficiently.

21. Thank You!

Editor's Notes

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flipkart beginning

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