Flipkart

Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.

Flipkart Private Limited
TypeSubsidiary
IndustryE-commerce
Founded2007 (2007)
Founder
Headquarters
Area served
India
Key people
Kalyan Krishnamurthi (CEO)[1]
ServicesOnline shopping
Revenue
  • Increase ₹61,836 crore (US$7.7 billion)
  • (FY2022)
Owner
Number of employees
30,000 (2016)[3]

The service competes primarily with Amazon India and domestic rival Snapdeal.[4][5] As of March 2017, Flipkart held a 39.5% market share in the Indian e-commerce industry.[6] Flipkart has a dominant position in the apparel segment, bolstered by its acquisition of Myntra, and was described as being "neck and neck" with Amazon in the sale of electronics and mobile phones.[7]

History

Start-up phase

Flipkart was founded in October 2007 in Mumbai by Sachin Bansal and Binny Bansal, alumni of the IIT, Delhi and former Amazon employees.[8][9][10] The company initially focused on online book sales with country-wide shipping. Flipkart slowly grew in prominence and was receiving 100 orders per day by 2008.[11]

Growth, mergers and acquisitions

In 2010, Flipkart acquired the Bangalore-based social book discovery service WeRead from Lulu.com.[12]

In 2011, Flipkart acquired the digital distribution business Mime360.com[13] and the digital content library of the Bollywood portal Chakpak.[14] Following the acquisition, Flipkart launched its DRM-free online music store Flyte in 2012. Due to competition from free streaming sites, Flyte was unsuccessful and shut down in June 2013.[15][16][17][18]

With its eyes on India's retail market, Flipkart acquired Letsbuy, an online electronics retailer,[19] in 2012, and Myntra, an online fashion retailer, for US$280 million in May 2014.[20] Myntra continues to operate alongside Flipkart as a standalone subsidiary focusing on separate market segments.[21]

In April 2015, Flipkart acquired Appiterate, a Delhi-based mobile marketing automation firm. Flipkart stated that it would use Appiterate's technology to enhance its mobile services.[22] In December 2015, Flipkart purchased a minority stake in the digital mapping provider MapmyIndia[23] and the UPI mobile payments startup PhonePe.[24][25] In 2022, when PhonePe moved its entire base to India, Flipkart separated the ownership of PhonePe and shareholders in India and Singapore and the respective shareholders purchased shares of PhonePe's India entity directly. It was announced that a cash payout of approximately $700 Mn was to be made to the former and current employees who were holding PhonePe's shares.[26][27]

In 2016, Flipkart acquired the online fashion retailer Jabong.com from Rocket Internet for US$70 million and

in January 2017, Flipkart made a US$2 million investment in TinyStep, a parenting information startup.[28]

In April 2017, eBay announced that it would sell its Indian subsidiary, eBay.in, to Flipkart and invest US$500 million in the company. While eBay suggested that the partnership would allow Flipkart to access eBay's network of international vendors, these plans never came to fruition.[29][30] In July 2017, Flipkart made an offer to acquire its main domestic competitor, Snapdeal, for US$700 to 800 million. It was rejected by Snapdeal, which was seeking at least US$1 billion.[31]

In August 2018, American retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing Flipkart at around US$20 billion.[32] Flipkart is valued at $37.6 billion as of 2022.[33] It is planning to go public through a listing in the United States of America in 2023.[34]

Flipkart invested US$4 million in the customer engagement and rewards platform EasyRewardz on 19 November 2019.[35][36]

In 2020, Flipkart Wholesale launched a digital platform for kiranas and MSMEs.[37] In July 2020, Flipkart acquired a 27% stake in Arvind Fashions Limited's newly formed subsidiary Arvind Youth Brands for US$35 million. Arvind Youth Brands owns the Flying Machine brand.[38] Flipkart also announced it will roll out Flipkart Quick, a hyperlocal 90-minute delivery service for product categories such as groceries, home accessories, mobile phones, stationery, and more.[39]

In October 2020, Flipkart acquired a 7.8% stake in Aditya Birla Fashion and Retail for US$204 million.[40][41] The following month, Flipkart acquired the intellectual property of gaming startup Mech Mocha for an undisclosed amount.[42] The acquisition formed part of Flipkart's plans to gain and retain users by offering casual games.[43] In November 2020, Flipkart acquired augmented reality company Scapic, which provides a suite of tools to create and publish augmented reality, virtual reality, and 3D content quickly and without coding.[44]

As of 2021, the Flipkart app was available in 8 local Indian languages, Gujarati, Bengali, Odia, Hindi, Telugu, Kannada, Marathi and Tamil.[45]

In April 2021, Flipkart announced the acquisition of the travel booking portal Cleartrip.[46]Flipkart also entered the hotel industry for the Indian and global markets. The Flipkart Hotels uses Cleartrip API.[47] Flipkart acquired Cleartrip's business in Middle East by signing an agreement with Wego - an online market place for travel that operates in middle east and North Africa. This included the sale of the website Flyin.com.[48]

In April 2022, Flipkart launched its first grocery fulfilment center in Northeast India, based in Guwahati. The centre was reportedly women-run to support the career progression of Flipkart's female employees.[49] The same month, the company established the Flipkart Foundation to support entrepreneurship and skill development within the underserved communities in India.[50]

In 2022, Flipkart entered the Non-Fungible Tokens (NFTs) and Web3 segment by letting the Indian purchasers of Nothing Phone (1) to get Nothing's NFT through the app called Nothing Community Dots. These NFTs use the Polygon blockchain to host it.[51] The NFT drop happened at FireDrops - which was done on Flipkart's NFT marketplace, supported by GuardianLink.[52] In October 2022, Flipkart also created a shopping platform that was metaverse-based, called Flipverse. The platform allows people to explore products and shop in a more interactive way.[53] The Flipverse has been created through a partnership with a Polygon-incubated firm called eDAO, and Flipverse hopes to provide a similar experience to the actual mall-like shopping where people would be able to create their Avatars.[54]

The e-commerce also started a virtual storefront that is dedicated to the academic needs of students named ‘Flipkart Student’s Club’.[55] The ‘Flipkart Green’ venture was created in 2023 for customers who want to have a sustainable lifestyle by providing certified sustainable products.[56]

Big Billion Days

In October 2014, Flipkart reprised the Big Billion Days event as a multi-day event exclusive to the Flipkart app. Flipkart bolstered its supply chain and introduced more fulfillment centers to meet customer demand.[57] Flipkart achieved a gross merchandise volume of US$300 million during the event, with the largest volumes coming from fashion sales and the largest value coming from mobiles.[58]

In 2017, Flipkart sold 1.3 million phones in 20 hours on 21 September during its Big Billion Days promotion, doubling the number sold on the first day of the same event in 2016.[59] Flipkart held a 51% share of all Indian smartphone shipments in 2017, overtaking Amazon India (33%).[60]

Walmart investment

On 4 May 2018, it was reported that Walmart had won a bidding war with Amazon to acquire a majority stake in Flipkart for US$15 billion.[61][62] On 9 May 2018, Walmart officially announced its intent to acquire a 77% controlling stake in Flipkart for US$16 billion.[63] Following the purchase, Flipkart co-founder Sachin Bansal left the company. The remaining management team reported to Marc Lore, CEO of Walmart eCommerce US.[64] Walmart president Doug McMillon cited plans to help Flipkart with its sourcing and supply chain while tapping on its expertise to expand Walmart globally.[65] Indian traders protested against the deal, considering it a threat to domestic business.[66][67]

In a filing with the U.S. Securities and Exchange Commission on 11 May 2018, Walmart stated that a condition of the deal prescribed the possibility that Flipkart's current minority shareholders "may require Flipkart to effect an initial public offering following the fourth anniversary of the closing of the transactions at a valuation no less than that paid by Walmart".[68][69]

Following the announcement of Walmart's deal, eBay announced that it would sell its stake in Flipkart back to the company for approximately US$1.1 billion and relaunch its Indian operations. The company stated that "there is a huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India's diverse, domestic market."[29] Softbank Group also sold its entire 20% stake to Walmart without disclosing the terms of the sale.[70] Walmart's acquisition of a 77% stake in Flipkart was completed on 18 August 2018. Walmart also provided US$2 billion in equity funding to the company.[71][72]

On 13 November 2018, Flipkart CEO Binny Bansal resigned after facing an allegation of "serious personal misconduct". Walmart stated that "while the investigation did not find evidence to corroborate the complainant's assertions against Binny, it did reveal other lapses in judgment, particularly a lack of transparency, related to how Binny responded to the situation."[73][74]

Other ventures

In July 2021, Flipkart launched its social commerce marketplace called Shopsy, which allowed individuals and small businesses to direct sell and resell products to customers via social media channels.[75] In December 2021, Shopsy entered the grocery delivery segment in 700 cities across India.[76][77] Shopsy surpasses 200 million app downloads on its 2nd anniversary in the month of July in 2023 with more than 60% of users hailing from tier-3 markets and other cities.[78][79]

Business structure

According to a report in November 2014, Flipkart operated with a complex business structure that included nine firms, some registered in Singapore and some in India. In 2012, Flipkart co-founders sold WS Retail to a consortium of investors led by Rajeev Kuchhal.[80] Flipkart's Indian entities are owned by Flipkart Pvt. Ltd., which is registered in Singapore. The Singapore-registered entity owns eight Indian companies, including Flipkart Internet Pvt. Ltd, the company that runs the e-commerce marketplace Flipkart.com, Flipkart India Pvt. Ltd, the wholesale business, and Flipkart Logistics Pvt. Ltd, which runs Ekart (the internal logistics arm that can be used by other e-commerce players).[81][82] Flipkart also started Flipkart Health+ (through an app) in 2021 which deals with providing medicines and health services through technology. This was started with the help of getting the majority share in Sastasundar Marketplace Limited - an existing company that already was providing online pharmacy services.[83]

Notable companies in which Flipkart Group owns a controlling stake include:

Name Type Since Current stake
Myntra Fashion 2014 100%[84]
Ekart Logistics 2015 [85]
Flipkart Wholesale B2B e-commerce 2020 100%[86]
Cleartrip Travel booking 2021 80%[87]
SastaSundar Healthcare 2021 75.1%[88]

Flipkart has made 22 acquisitions and 27 investments, spending over US$415M for the acquisitions.[89] Flipkart has invested in multiple sectors such as e-commerce, consumer electronics, local services and more. In 2022, it also revised it's policies for sellers in an attempt to make it more seller-friendly. This included simplifying the rate card and reducing fee for return costs.[90] In 2022, Flipkart reportedly hosted 1.1 Million sellers.[91]

Funding and Revenue

The initial development budget of Flipkart was ₹400,000 (US$5,000).[92] It later raised funding from venture capital firms Accel India (receiving US$1 million in funding in 2009)[93][94] and Tiger Global (US$10 million in 2010 and US$20 million in June 2011).[95][96][97] On 24 August 2012, Flipkart announced the completion of its 4th round of funding, netting a total of US$150 million from MIH (part of the Naspers Group) and ICONIQ Capital. The company announced on 10 July 2013 that it had raised an additional US$200 million from existing investors, including Tiger Global, Naspers, Accel Partners and Iconiq Capital.[98]

Flipkart's reported sales were ₹40 million (US$500,000) in the FY2008–09,[99][100] ₹200 million (US$2.5 million) in the FY2009–10[101] and ₹750 million (US$9.4 million) in the FY2010–11.[102]

Flipkart reported a loss of ₹2.81 billion (US$35 million) for the FY2012–13.[103] In July 2013, Flipkart raised US$160 million from private equity investors.[104]

In October 2013, it was reported that Flipkart had raised an additional US$160 million from new investors Dragoneer Investment Group, Morgan Stanley Wealth Management, Sofina SA, and Vulcan Inc., with a share of the funding coming from existing investor Tiger Global.[105][106][107]

On 26 May 2014, Flipkart announced that it had raised US$210 million from Yuri Milner's DST Global and its existing investors Tiger Global, Naspers, and Iconiq Capital.[108]

On 29 July 2014, Flipkart announced that it raised US$1 billion from Tiger Global, Accel Partners, Morgan Stanley Investment Management, and a new investor, Singaporean sovereign wealth fund GIC.[109][110]

In December 2014, after it received US$700 million from another round of funding, Flipkart had a market cap of US$11 billion.[111]

On 20 December 2014, Flipkart announced its filing application with Singapore-based company regulator ACRA to become a public company. This announcement came after the company received US$700 million in long-term strategic investments from more than 50 Indian investors. The US$700 million in funding raised by Flipkart added new investors to the company's board, including Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates, and Qatar Investment Authority. Its existing investors DST Global, GIC, ICONIQ Capital and Tiger Global also participated in this financing round.[112] As of May 2015, Flipkart had raised US$550 million in additional funding from its existing investors in a deal that raised its total valuation to US$15 billion.[113]

By August 2015, after raising another US$700 million, Flipkart had raised a total of US$3 billion over 12 rounds of funding from 16 major investors.[114] In April 2017, Flipkart underwent another round of funding, receiving US$1.4 billion in funding from investors including eBay, Microsoft, and Tencent.[115] On 10 August 2017, SoftBank Vision Fund invested another US$2.5 billion in Flipkart.[116]

On 19 September 2018, Flipkart Marketplace Singapore injected ₹3,463 crore into Flipkart Internet. The transaction was done in two tranches, according to regulatory filings.[117]

In March 2021, it was reported that Flipkart was considering the possibility of going public through a merger with a special-purpose acquisition company (SPAC) to speed up its listing process in the United States.[118][119]

In 2022, the organization started Flipkart Ventures and created a venture fund of $100 Million to be invested in other 6 start-ups selected for Flipkart Leap Ahead, an accelerator program. Each start up will be given an equity investment of up to $500,000.[120] Once the first cohort of Flipkart Leap was completed, the program was split in two distinct programs known as Flipkart Leap Ahead (FLA) and Flipkart Leap Innovation Network (FLIN).[121]

The total revenue in 2022 was that of ₹43,357 crore was reported for the past fiscal year of 2020-2021. This was 25% more than its revenue in the fiscal year of 2020. The losses were reported to have reduced by 23% to ₹2,445 Crore with total expenses of ₹45,801.[122]

Regulatory action and lawsuits

In November 2012, the Indian Enforcement Directorate began investigating Flipkart for alleged violations of the foreign direct investment regulations of the Foreign Exchange Management Act of 1999.[123][124] On 30 November 2012, Flipkart's offices were raided by the Enforcement Directorate. Documents and computer hard drives were seized by the agency.[125] In August 2014, the Enforcement Directorate claimed that it had found Flipkart to be in violation of the Foreign Exchange Management Act.[126] The Delhi High Court declared that several e-commerce firms, including Flipkart, had violated foreign investment regulations.[127]

In January 2016, a public interest litigation hearing took place over Flipkart's alleged contravention of foreign investment norms. The court asked the Reserve Bank of India to provide the latest circular on foreign investment policy.[128] The same month, the Department of Industrial Policy and Promotion (DIPP) clarified that it did not recognise the marketplace model of online retail.[129] In February 2016, Health Minister J P Nadda announced that the Maharashtra FDA had taken action against Flipkart, among others, for selling drugs without a valid license.[130]

Consumer affairs

In 2022, a group of scammers was arrested by the police in Lucknow who used the platform to scam the customers. The scam included replacing the online ordered Apple products with bricks to cheat customers and company.[131] Such scams have also been reported in the past where soaps were delivered instead of iPhones on Flipkart[132] and also on Amazon.[133][134]

House brands

Flipkart operates several house brands, including Citron[135] (home appliances) and Digiflip (formerly for electronics and accessories).[136] In 2017, Flipkart launched additional house brands, including Billion (smartphones),[137] Smartbuy (electronics accessories, effectively replacing Digiflip),[138] and MarQ (for large appliances, although its launch was complicated by a trademark dispute with an existing company, Marc Enterprises).[139]

In 2019, Flipkart began selling Nokia-brand televisions. A 55-inch, Android TV-based 4K Smart TV was the first product released under that licensing agreement.[140] A 43-inch TV was unveiled on 4 June 2020.[141]

Flipkart Video

Flipkart launched an in-app streaming service called Flipkart Video in August 2019, so as to compete with industry rivals like Amazon who were also offering premium video options. The initial line up of content was curated from the service providers like Viu, Voot and TVF.[142][143]

Flipkart Video Originals

To strengthen its content offering on Flipkart Video, Flipkart forayed into original content production, known as Flipkart Video Originals. The first show was launched on 19 October 2019. Named Back Benchers, it was a Bollywood celebrity quiz show hosted by Farah Khan.[144][145]

Criticism

On 13 September 2014, a Flipkart deliveryman allegedly molested a housemaid in Hyderabad.[146] The housemaid's employer sued Flipkart for this incident, citing the need for regulations to make offline delivery services safer.[147]

In 2014, competitors such as Future Group (owner of retail chain Big Bazaar at that time) filed complaints with India's Ministry of Commerce and Industry, alleging that Flipkart's Big Billion Days discounts undercut prices in a manner predatory to other retailers. The ministry stated that it would look into the complaints.[148][149][150]

In April 2015, Flipkart faced criticism for being a launch partner in the Airtel Zero program. Critics alleged that the zero-rating scheme violated the principles of net neutrality. Flipkart later pulled out of the project.[151]

In 2015, around 400 delivery executives working with eKart, the logistics arm of Flipkart, went on strike to protest poor working conditions. Complaints included seven-day workweeks, extended hours, and a lack of clean toilets and medical assistance for bike riders involved in accidents.[152] In 2016, delivery executive Nanjunda Swamy was murdered by a customer who did not have enough money to pay for a product.[153] In response, Flipkart launched a safety initiative -'Project Nanjunda', named after the deceased executive. This included an SOS button in the mobile app (called the Nanjunda button) that could be used by field executives in case of emergencies.[154]

Vendors on Flipkart have faced several challenges while doing business on the company's marketplace, to the extent that some of them have quit the portal. Some of these challenges include Flipkart's alleged unfair policies towards sellers, the lack of a competent logistics service, and customer returns that are a result of consumer fraud.[155]

Awards and recognition
  • Sachin Bansal was awarded Entrepreneur of the Year, 2012–13 from The Economic Times, a leading Indian economic daily newspaper.[156]
  • In September 2015, the two founders entered Forbes India's richest Indian by year, debuting in the 86th position with a net worth of US$1.3 billion each.[157]
  • In April 2016, Sachin and Binny Bansal were named to Time magazine's annual list of the 100 Most Influential People in the World.[158]
  • Flipkart was reported to be at the top in the annual fairwork India Ratings 2021 - which is a 10-point system that creates a score based on fair pay, conditions, contracts, management, and representation.[159] A total of 11 platforms were evaluated by a consortium of the Centre for IT and Public Policy (CITAPP), International IIIT Bangalore and the global Fairwork network .The methodology included qualitative interviews with 19-20 workers in Delhi and Bangalore.[160]

See also

References
  1. "Kalyan Krishnamurthy to be Flipkart's new CEO; Sachin Bansal to remain group chairman". The Economic Times. 10 January 2017.
  2. Mishra, Digbijay. "Binny Bansal sold part stake in Flipkart in July funding round". The Economic Times. Retrieved 21 June 2022.
  3. "Flipkart to sack 800 more amidst gloomy biz outlook". The Hindu. 9 September 2016.
  4. Halzack, Sarah (9 May 2018). "Walmart Is Right on Flipkart Despite Investor Qualms". Bloomberg. Retrieved 11 May 2018.
  5. Punit, Itika Sharma. "Snapdeal may die a slow and painful death". Quartz. Retrieved 11 May 2018.
  6. Sharma, Nishant (23 March 2018). "This Is Why Amazon Hasn't Beaten Flipkart In India Yet". Bloomberg Quint. Retrieved 23 March 2018.
  7. Tandon, Suneera. "Why Walmart bought Flipkart, according to Walmart". Quartz. Retrieved 13 May 2018.
  8. Joseph Tejaswi, Mini (2 May 2013). "Flipkart goes for fashion branding". The Times of India. Retrieved 5 October 2013.
  9. Kurian, Boby; Sharma, Samidha (4 May 2018). "Flipkart co-founder likely to quit after Walmart takeover". The Times of India.
  10. Geetika Rustagi (4 August 2010). "Now order your next mobile on Flipkart". Livemint. Retrieved 19 August 2010.
  11. J., Anand; Pillai, Shalina (30 May 2017). "Flipkart's first customer almost didn't get his book". The Times of India. Retrieved 11 May 2018.
  12. "Flipkart Buys Social Book Discovery Tool WeRead". VCCircle. 22 December 2010. Retrieved 10 May 2018.
  13. Nikhil Pahwa (11 October 2011). "Flipkart Acquires Mime360; To Launch Digital Distribution of Music, E-books, Games". MediaNama. Retrieved 14 October 2011.
  14. Saxena, Anupam (25 November 2011). "Updated: Flipkart Acquires Bollywood Site Chakpak's Digital Catalogue; Inline With Digital Downloads?". MediaNama. Retrieved 11 February 2018.
  15. Lal, Abhinav (24 February 2012). "Flipkart to launch 'Flyte Digital Store' in March". Digit. India: 9.9 Media. Retrieved 27 February 2012.
  16. "Exclusive: Flipkart to Shutdown Flyte MP3 Store; To Exit Digital Music Business". NextBigWhat. Retrieved 29 May 2013.
  17. "Flyte MP3 Store Shutting Down". ThinkDigit. Retrieved 29 May 2013.
  18. Pahwa, Nikhil (29 May 2013). "Why Flipkart Shut Down Flyte Music". MediaNama. Retrieved 29 May 2013.
  19. "Flipkart Buys Letsbuy in Cash-Equity Deal". Business Standard. 11 May 2012. Retrieved 9 February 2012.
  20. "Big deal: Flipkart acquires online fashion retailer Myntra". The Indian Express. 22 May 2014. Retrieved 22 May 2014.
  21. Sen, Anirban (9 January 2018). "Flipkart fashion business catches up with Myntra". Livemint. Retrieved 13 May 2018.
  22. "Flipkart acquires mobile marketing firm Appiterate". The Economic Times. 30 April 2015. Retrieved 10 May 2018.
  23. Dalal, Mihir (3 December 2015). "Flipkart buys stake in MapmyIndia to improve delivery operations". Mint. Retrieved 10 May 2018.
  24. "Flipkart-owned Myntra acquires fashion and lifestyle site Jabong". Hindustan Times. 26 July 2016. Retrieved 10 May 2018.
  25. Chathurvedula, Sadhana (4 April 2016). "Flipkart acquires UPI-based payments start-up PhonePe". Livemint.
  26. "PhonePe separation official; online payments firm to be India-domiciled now". The Economic Times. Retrieved 5 January 2023.
  27. "Flipkart rewards 25,000 past and present employees with a $700 million windfall". Moneycontrol. 27 December 2022. Retrieved 5 January 2023.
  28. Russell, Jon (18 January 2017). "Flipkart backs parenting network TinyStep with $2 million investment". TechCrunch. Retrieved 10 May 2018.
  29. "eBay to sell stake in Flipkart for about $1.1 billion, to relaunch eBay India". The Economic Times. 10 May 2018.
  30. Del Rey, Jason (10 April 2017). "Why eBay's CEO sold eBay India and poured $500 million into the country's top Amazon rival". Recode. Retrieved 10 May 2018.
  31. SN, Vikas (10 April 2017). "Flipkart raises $1.4Bn from Tencent, eBay & Microsoft at $11.6Bn valuation, acquires eBay India". The Economic Times. Retrieved 20 April 2017.
  32. "Walmart and Flipkart Announce Completion of Walmart Investment in Flipkart, India's Leading Marketplace eCommerce Platform". Walmart. 18 August 2018. Retrieved 14 June 2019.
  33. "Flipkart may now seek $70 billion valuation for its US listing".
  34. Bhalla, Kritti (7 April 2022). "Flipkart may now seek $70 billion valuation for its US listing". Business Insider India. Retrieved 24 December 2022.
  35. "Flipkart invests in EasyRewardz". The Times of India. 19 November 2019. Retrieved 20 November 2019.
  36. "Flipkart invests in customer rewards platform EasyRewardz". ETtech. 19 November 2019. Retrieved 20 November 2019.
  37. Jagannath, J (2 September 2020). "Flipkart Wholesale launches digital platform for kiranas, MSMEs". Livemint. Retrieved 7 January 2021.
  38. Balram, Smita; Shrivastava, Aditi. "Flipkart to invest Rs 260 crore in Arvind Fashions' arm". The Economic Times. Retrieved 19 July 2020.
  39. Srivastava, Moulishree (29 July 2020). "Flipkart rolls out hyperlocal-delivery service to compete with Dunzo and Swiggy". KrASIA. Retrieved 16 August 2022.
  40. Buch, Himadri; Farooqui, Maryam (23 October 2020). "How will Flipkart and Aditya Birla Fashion Retail deal benefit both entities?". Moneycontrol. Retrieved 24 October 2020.
  41. Singh, Manish (23 October 2020). "India's Flipkart buys $204 million stake in Aditya Birla Fashion and Retail". TechCrunch. Retrieved 24 October 2020.
  42. "Flipkart acquires gaming startup Mech Mocha". The Economic Times. Retrieved 16 August 2022.
  43. Tiwary, Avanish (4 November 2020). "Flipkart acquires gaming startup Mech Mocha to expand customer base". KrASIA. Retrieved 16 August 2022.
  44. Srivastava, Moulishree (17 November 2020). "Flipkart's acquisition of augmented reality startup Scapic aimed at enhancing customer experience". KrASIA. Retrieved 16 August 2022.
  45. "Flipkart adds Gujarati; app now available in eight Indian languages". Business Today. 9 April 2021. Retrieved 11 September 2022.
  46. "Flipkart acquires Cleartrip as part of its diversification drive". The Economic Times. Retrieved 21 June 2022.
  47. Abrar, Peerzada (7 September 2022). "Flipkart launches Flipkart Hotels for domestic, international market". www.business-standard.com. Retrieved 8 February 2023.
  48. Bureau, BL Mumbai (21 February 2022). "Wego to Acquire Cleartrip's Middle East Business from Flipkart". www.thehindubusinessline.com. Retrieved 22 March 2023.
  49. Abrar, Peerzada (8 April 2022). "Flipkart launches its first grocery fulfilment centre in Northeast". Business Standard. Retrieved 27 August 2022.
  50. "Flipkart Foundation to support entrepreneurship, skill development". The Economic Times. 5 April 2022. Retrieved 27 August 2022.
  51. Ahaskar, Abhijit (14 July 2022). "Flipkart ventures into NFTs with Nothing's airdrop". mint. Retrieved 1 October 2022.
  52. "Flipkart To Support NFT Airdrop By Nothing Phone (1) To Select Buyers, Memechat Forays Into Metaverse". Outlook India. 15 July 2022. Retrieved 19 October 2022.
  53. Livemint (17 October 2022). "Flipkart launches metaverse shopping platform: How to shop in Flipverse". mint. Retrieved 24 October 2022.
  54. "Flipkart to allow users to shop on metaverse with Flipverse". Financialexpress. 18 October 2022. Retrieved 24 October 2022.
  55. Abrar, Peerzada (30 May 2022). "Flipkart starts initiative for academic, extracurricular needs of students". www.business-standard.com. Retrieved 23 March 2023.
  56. "'Flipkart Green' e-store for sustainable products launched". www.thehindubusinessline.com. 5 January 2023. Retrieved 24 June 2023.
  57. "Flipkart Big Billion Days Sale to Be App-Only, Start October 13". Gadgets360.com. Retrieved 10 May 2018.
  58. Thimmaya, PP (19 October 2015). "Flipkart 'Big Billion Days' sale does $300 million GMV in business". The Financial Express. Retrieved 10 May 2018.
  59. Punit, Itika Sharma. "In 20 hours, Flipkart sold a record-breaking 1.3 million smartphones". Quartz. Retrieved 11 May 2018.
  60. Mishra, Digbijay (26 February 2018). "Flipkart 'beats' Amazon in m-sales". The Times of India. Retrieved 11 May 2018.
  61. Purnell, Newley; Bellman, Eric; Abrams, Corinne (7 May 2018). "Walmart Bets $15 Billion on an E-Commerce Passage to India". The Wall Street Journal. ISSN 0099-9660. Retrieved 7 May 2018.
  62. Browne, Ryan (4 May 2018). "Walmart reportedly triumphs over Amazon with approval of $15 billion deal for majority stake in Flipkart". CNBC. Retrieved 7 May 2018.
  63. Bansal, Varsha; Chanchani, Madhav (12 May 2018). "Walmart can invest another $3 billion in Flipkart at the same valuation". The Economic Times. Retrieved 15 May 2018.
  64. Sharma, Samidha (8 May 2018). "Sachin Bansal to sell entire 5.5% to Walmart as he exits Flipkart". The Times of India. Retrieved 9 July 2018.
  65. "Walmart acquires Flipkart for $16 bn, world's largest ecommerce deal". The Economic Times. 9 May 2018. Retrieved 9 May 2018.
  66. "Walmart wins battle for India's Flipkart". BBC News. 9 May 2018. Retrieved 9 May 2018.
  67. "Indian traders protest $16 billion Walmart-Flipkart deal". TRTWorld. Retrieved 4 July 2018.
  68. Sen, Anirban (14 May 2018). "Walmart has long-term plans for Flipkart, an IPO isn't one of them". Livemint. Retrieved 14 May 2018.
  69. Loizos, Connie (14 May 2018). "Walmart's deal to buy Flipkart came with an interesting caveat". TechCrunch. Retrieved 14 May 2018.
  70. "SoftBank is selling its entire Flipkart stake to Walmart". CNBC. 22 May 2018. Retrieved 23 May 2018.
  71. "Walmart completes deal to acquire 77% stake in Flipkart, to invest $2 billion". The Times of India. 18 August 2018. Retrieved 18 August 2018.
  72. Sen, Anirban (18 August 2018). "Walmart completes deal to buy Flipkart for $16 billion". Livemint. Retrieved 12 November 2018.
  73. Iyengar, Rishi. "Setback for Walmart: Flipkart CEO resigns after misconduct investigation". CNN. Retrieved 21 November 2018.
  74. Nair, Sulekha (14 November 2018). "Binny Bansal resigns from Flipkart on charges of 'personal misconduct': A case of opportunism on Walmart's part?". Firstpost. Retrieved 21 November 2018.
  75. Nandy, Madhurima (1 July 2021). "Flipkart launches Shopsy app for small entrepreneurs". mint. Retrieved 20 February 2022.
  76. "Flipkart's Shopsy enters grocery business to take on DealShare, Meesho". The Economic Times. Retrieved 17 February 2022.
  77. Abrar, Peerzada (14 December 2021). "Flipkart's Shopsy eyes largest grocer tag, rolls out services in 700 cities". Business Standard India. Retrieved 20 February 2022.
  78. Singh, Nikesh (23 January 2023). "Flipkart's Shopsy sees six-fold customer growth on its website in 2022". www.business-standard.com. Retrieved 8 February 2023.
  79. Reporter, Bs. "Shopsy surpasses 200 million app downloads on its 2nd anniversary". Business Standard.
  80. Verma, Shrutika; Dalal, Mihir (25 November 2014). "Inside Flipkart's complex structure". Livemint. Retrieved 28 February 2016.
  81. Laskar, Anirudh (7 December 2020). "Walmart readies for $10 bn Flipkart IPO". Livemint. Retrieved 7 December 2020.
  82. Mittal, Apoorva; Mishra, Digbijay. "Flipkart opens up logistics arm to other ecommerce firms; plans NFT play too". The Economic Times. Retrieved 4 September 2022.
  83. Abrar, Peerzada (6 April 2022). "Flipkart taps healthcare sector with brand new 'Flipkart Health+' app". www.business-standard.com. Retrieved 1 October 2022.
  84. Kurup, Deepa (22 May 2014). "Flipkart buys out Myntra for $300 m". The Hindu. Retrieved 21 June 2022.
  85. Pahwa, Akanksha (22 September 2015). "Flipkart Buys Back Its Logistics Arm, Ekart, From WS Retail". Inc42 Media. Retrieved 21 June 2022.
  86. "Flipkart buys parent Walmart's Indian wholesale business". Reuters. 23 July 2020. Retrieved 21 June 2022.
  87. "Adani Group picks up stake in Cleartrip". The Economic Times. Retrieved 21 June 2022.
  88. "Flipkart Health completes acquisition of 75.1% stake in Sastasundar Marketplace". IndiaInfoline. 13 December 2021. Retrieved 21 June 2022.
  89. "Acquisitions by Flipkart".
  90. Livemint (12 July 2022). "Flipkart rolls out fresh policies to attract more sellers". mint. Retrieved 8 October 2022.
  91. "Flipkart: 220% growth in new seller count this year". Financialexpress. 15 September 2022. Retrieved 24 June 2023.
  92. Rai, Archana (30 June 2010). "Flipkart: Country's largest online bookstore". The Economic Times. Retrieved 19 August 2010.
  93. Sengupta, Snigdha. "Is Accel Eyeing a 25X Partial Exit From Flipkart?". Startupcentral.in. Retrieved 5 October 2013.
  94. Sinha. "Accel India Invests in Flipkart". pluggd.in. Archived from the original on 19 August 2011. Retrieved 25 August 2011.
  95. Gutka, Charmi (31 January 2012). "Flipkart Raises $150Mn From Accel Partners, Tiger Global". Archived from the original on 13 April 2012. Retrieved 5 May 2012.
  96. Sudipta Datta; Suman Tarafdar (7 February 2010). "A Tale of Two Book Fairs". The Financial Express. Retrieved 19 August 2010.
  97. "Inlogistics: India's first private train cargo operator". CNBC-TV18. 18 March 2010. Retrieved 19 August 2010.
  98. Jayadevan PK. "Flipkart Raises Fresh $200 mn from Existing Investors Tiger global, Naspers & Others". NextBigWhat.
  99. Iyer, Byravee (19 July 2010). "Cash on delivery". Business Standard. Retrieved 19 August 2010.
  100. Dua, Aarti (28 February 2010). "A winning chapter". The Daily Telegraph. Calcutta, India. Archived from the original on 3 March 2010. Retrieved 19 August 2010.
  101. "Bibliofile:A Garage Takes Off". Outlook. 22 March 2010. Archived from the original on 30 October 2010. Retrieved 19 August 2010.
  102. Mookerji, Nivedita (25 January 2013). "Flipkart may launch online marketplace on its website". Business Standard. Retrieved 23 July 2013.
  103. "Flipkart India Reports Loss of Rs. 281.7 Crore". Hindustan Times. 19 December 2013. Archived from the original on 29 March 2015. Retrieved 31 January 2015.
  104. "Flipkart raises $160 mn in latest funding drive". Moneycontrol. 9 October 2013. Retrieved 18 February 2015.
  105. "Flipkart raises $160M more from Morgan Stanley, Vulcan Capital, Tiger Global, others". VCCircle.
  106. Vikas SN (9 October 2013). "Flipkart Raises $160M From Dragoneer Investment, Morgan Stanley Investment & Others". MediaNama. Retrieved 25 October 2013.
  107. Dalal, Mihir (26 November 2013). "Flipkart valued at roughly '9,900 crore, says MIH India". Livemint. Retrieved 27 November 2013.
  108. Rajat Agrawal. "Flipkart raises $210 million in financing round led by DST Global". BGR.in. Retrieved 18 February 2015.
  109. "Flipkart raises $1 billion from investors". Indiasnaps.com. Retrieved 18 February 2015.
  110. Ann Thoppil, Dhanya (29 July 2014). "India's Flipkart Raises $1 Billion in Fresh Funding". The Wall Street Journal. Retrieved 18 February 2015.
  111. "Flipkart now has market cap of $11 billion". Business Standard. 23 December 2014. Retrieved 18 February 2015.
  112. "Flipkart files an application to become public, raises 700 million dollars". The Times of India. Retrieved 20 December 2014.
  113. Ann Thoppil, Dhanya (19 May 2015). "Flipkart Valued at $15 Billion After Latest Funding". The Wall Street Journal.
  114. "August roundup: top 5 Indian startups and their investments". Hot Topics. Retrieved 2 November 2015.
  115. Russell, Jon (10 April 2017). "Flipkart raises $1.4 billion from eBay, Microsoft and Tencent at an $11.6 billion valuation". TechCrunch. Retrieved 10 April 2017.
  116. Bidkar, Chinmay (10 August 2017). "SoftBank Vision Fund Invests a Record $2.5 Billion in Flipkart". TechStory. Retrieved 10 August 2017.
  117. Khatri, Bhumika (19 September 2018). "Ahead Of Festive Season Sale, Flipkart Infuses Marketplace Arm With $457.7 Mn". Inc42 Media.
  118. Srivastava, Moulishree (5 March 2021). "Flipkart deliberates a SPAC merger to go public". KrASIA. Retrieved 16 August 2022.
  119. Sen, Anirban; Phartiyal, Sankalp (4 March 2021). "Walmart's Flipkart in early talks for U.S. listing via SPAC deal: sources". Reuters. Retrieved 16 August 2022.
  120. Abrar, Peerzada (18 August 2022). "Flipkart $100 mn venture fund invests in 6 startups, will mentor them". www.business-standard.com. Retrieved 4 September 2022.
  121. Abrar, Peerzada (17 January 2022). "Flipkart launches Leap Ahead and Leap Innovation Network startup programmes". www.business-standard.com. Retrieved 25 September 2022.
  122. Abrar, Peerzada (4 January 2022). "Flipkart's revenue up 25% to Rs 43K cr, Amazon clocks 49% rise at Rs 16K cr". www.business-standard.com. Retrieved 11 September 2022.
  123. "Enforcement Directorate to probe Flipkart". The Times of India. 28 November 2012.
  124. "Flipkart under ED scanner". The Hindu. Chennai, India. 28 November 2012.
  125. "Flipkart office was raided by Enforcement Directorate on Nov 30th? [Updated]". NextBigWhat. 11 December 2012. Retrieved 28 February 2016.
  126. Srivastava, Shruti (20 August 2014). "Flipkart case: ED finds FEMA violation, Rs 1,400 cr fine likely". The Indian Express. Retrieved 28 February 2016.
  127. Jain, Varun (24 September 2015). "Ecommerce companies like Flipkart, Amazon violated FDI Norms: Delhi High Court". The Economic Times. Retrieved 28 February 2016.
  128. Mittal, Priyanka (26 January 2016). "Delhi high court asks RBI to submit latest circular on FDI policy". Livemint. Retrieved 28 February 2016.
  129. "Marketplace model of online retailers not under India's FDI policy: DIPP". International Business Times. 6 January 2016. Retrieved 28 February 2016.
  130. "Action against Snapdeal, Amazon.com, Flipkart for selling medicines without licence". The Economic Times. Retrieved 28 February 2016.
  131. "iPhone scam: Lucknow Police arrests fraudsters for duping Flipkart; here are the details". TimesNow. 4 October 2022. Retrieved 29 October 2022.
  132. Desk, Trending. "Video: Man Orders Apple iPhone 12 Worth Rs 53000 From Flipkart, Receives Nirma Soap Instead | Watch". www.india.com. Retrieved 29 October 2022.
  133. Ratnam, Deepti (29 October 2021). "Amazon user gets vim soap instead of iPhone 12". BGR India. Retrieved 29 October 2022.
  134. Livemint (25 October 2021). "Man receives soap, coin instead of iPhone 12. Know details". mint. Retrieved 29 October 2022.
  135. "Flipkart Launches in house home appliance, Personal health care brand Citron". The Economic Times. 9 September 2014.
  136. "Flipkart Launches Its Own Home Appliances, Personal Healthcare Brand". Gadgets360.com. 9 September 2014. Retrieved 11 May 2018.
  137. Pratap, Ketan (10 November 2017). "Flipkart Billion Capture+ Smartphone Launched; Price Starts at Rs. 10,999". Gadgets360.com. Retrieved 11 November 2017.
  138. "Flipkart SmartBuy Launched, Offers Self-Branded Chargers and Micro-USB Cables at Low Prices". Gadgets360.com. 9 December 2016. Retrieved 15 December 2017.
  139. Bailay, Rasul (2018). "Flipkart can't use 'MarQ' till February 5". The Economic Times. Retrieved 11 May 2018.
  140. "Nokia Smart TV 55". Flipkart India Private Limited. Retrieved 6 March 2020.
  141. Cyril D. Cruze, Danny (4 June 2020). "Nokia unveils new 43-inch 4K Android Smart TV: Price, sale and other details". Livemint. Retrieved 4 June 2020.
  142. Ganjoo, Shweta (17 August 2019). "Flipkart rolls out video service on its Android app to take on Amazon Prime". India Today. Retrieved 19 October 2019.
  143. "Flipkart joins OTT race: Launches video streaming service". Business Standard. 17 October 2019. Retrieved 19 October 2019.
  144. Chaudhary, Deepti (15 October 2019). "Flipkart to offer original video content". Livemint. Retrieved 19 October 2019.
  145. Subramaniam, Nikhil (15 October 2019). "Flipkart Video Originals Launched: Has Flipkart Got The Timing Right?". Inc42. Retrieved 20 October 2020.
  146. "Flipkart delivery boy molests maid in Hyderabad". Deccan Chronicle. 14 December 2014. Retrieved 15 December 2014.
  147. Sachitanand, Rahul (14 December 2014). "Women's safety: E-commerce companies need to do more to ensure quality of offline workforce". The Economic Times. Retrieved 15 December 2014.
  148. Anand, Shambhavi; Malviya, Sagar (8 October 2014). "Future Group's Kishore Biyani, vendors accuse Flipkart of undercutting to destroy competition". The Economic Times. Retrieved 18 February 2015.
  149. "Centre to look into complaints against Flipkart sale". Business Line. 8 October 2014. Retrieved 18 February 2015.
  150. Mookerji, Nivedita (9 October 2014). "Big Billion Day sale cost Flipkart big; govt takes notice". Business Standard. Retrieved 18 February 2015.
  151. Balasubramanian, Shyam (14 April 2015). "Flipkart Pulls Out of Airtel Deal Amid Backlash Over Net Neutrality". NDTV. Retrieved 5 February 2019.
  152. Singh, Dipti (2 August 2015). "Logistics staff go on strike, Flipkart, Myntra in a fix". The Indian Express. Retrieved 9 July 2018.
  153. Khanna, Anahita (15 December 2016). "Flipkart Delivery Man Murdered For ₹12,000 Cellphone In Bengaluru". HuffPost India. Retrieved 9 July 2018.
  154. Mitter, Sohini. "A month after delivery boy's murder, Flipkart launches new SOS feature". Mashable. Retrieved 9 July 2018.
  155. Menezes, Rebecca (25 November 2016). "Seller Interview – 'We quit Flipkart 3 times due to missing products, order cancellations' Online seller Ravi Chopra shares why quitting Flipkart was needed". IndianOnlineSeller.
  156. "ET Awards 2012–13: How IIT-alumnus Sachin Bansal built Flipkart into a big online brand". The Economic Times. 26 September 2013. Retrieved 26 September 2013.
  157. "Forbes India rich list: Mukesh Ambani tops for 9th year, Flipkart's Bansals debut at 86th slot". Firstpost. 24 September 2015. Retrieved 24 September 2015.
  158. "Time 100 Titans – Binny Bansal and Sachin Bansal", Time, 21 April 2016
  159. "Ola, Uber score poorly in gig-work conditions, Flipkart tops the chart: Fairwork Ratings". Financialexpress. 30 December 2021. Retrieved 8 October 2022.
  160. "Flipkart tops Fairwork index for gig workers; Ola and Uber come with zero score". The New Indian Express. Retrieved 19 October 2022.
Wikimedia Commons has media related to Flipkart.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.