|What is Flipkart ?|
What is Flipkart and who is its CEO?
Every day, we go to the online shopping store to see the price of our favorite things and when we want, we order them. Who does not do online shopping today. What is Flipkart? Who knows about it and those who do not know after reading this post will know what is its history and who is its CEO. How this company started, what is the story behind this online store, we will give you all information through this post.
Whether to buy a new mobile or take a back cover for the mobile, see a new shirt / pants or face a kitchen, buy new shoes or sleepers, we do not want to go to a local shop and buy everything but sitting at home. Want to order There are many such online shopping companies but the most popular company in India is Flipkart. From where thousands of millions of orders are delivered everyday. After all, how did this Flipkart company start and who started it, (what is Flipkart), you will know today
What is Flipkart ?
Flipkart Pvt. Ltd. There is an Indian e-commerce company from where you do online shopping. The company is located in the south Indian city of Bangalore. There are 2 people behind the formation of the company, whose names are Sachin Bansal and Binny Bansal. It started with selling books which was started in October 2007. Flipkart is India’s largest e-commerce website, which is giving a very tough competition to the Amazon company in India.
Recently, American retail company Walmart bought Flipkart. It bought 77% shares of Flipkart for which it had to spend $ 16 billion. In this way, the American company got an opportunity to spread its business through India’s largest online e-commerce website.
When Sachin Bansal and Binny Bansal started this company, at that time they started with books, after that laptop bags, tablets, USB drives also started selling. And then what was it like Amazon started selling products in every category.
Although Amazon India sells all kinds of products through the website and app, but Flipkart also thought of doing something unique and started offering a lot of features to Indian customers. Indians were not able to pay online, so they used to abstain from buying something in Amazon, but Flipkart attracted people by offering cash on Deleivery and people also responded well. The number of Dinbadin customers has increased and Flipkart has started the payment service through mobile wallet, paytm and UPI. Which made it easy for people to pay online.
Who is the CEO of Flipkart?
The CEO of Flipkart is Kalyan Krishnamurthy.
History of Flipkart –
It has been a few years since Flipkart started. The history of Flipkart can be quite inspiring for the youth of today who try to improve their lives all the time. So let us know how the Flipkart company which is creating new dimensions of success has started today and how it has achieved its success.
Flipkart was started by Sachin Bansal and Binny Bansal in 2007 i.e. 11 years ago. Although their names are the same but they are not relatives but both are just very good friends and both are residents of Chandigarh city of northern India. Both Sachin Bansal and Binny Bansal have studied at the Indian Institute of Technology IIT Delhi, Delhi. After studying there, his friendship started when he went to work in the Amazon.
When Sachin and Binny were working at Amazon, they thought of forming a company like Amazon and thus gave up the job of Amazon to give a new start to this thinking. He started this company with a 2 bedroom apartment. His office in this apartment was in Bangalore koramangala area. He did his first work as an online bookstore. At that time, who knew that this small two-room book store would one day emerge as India’s most electronic commerce company.
This company had its first office in Bangalore city of Karnataka state, after which they also opened their offices in Delhi and Mumbai in 2009. Then he changed the office in Bengaluru to a very large campus of about 8.3 lakh square feet. Investors could get from other countries also, so they started it in Singapore and spread it.
For 9 consecutive years, Sachin remained the CEO of Flipkart. After that Binny Bansal became the CEO of the company and became the true executive chairmain. Kalyan Krishnamurthy was elected the new CEO of Flipkart in 2018. Prior to this he was the executive of Flipkart investor tiger global. At the same time, Binny Bansal was chosen as the CEO of the entire Flipkart Group under which fashion brands jabong, myntra, Wallet Payment system phonePe, and logistic unit Ekart are included.
Flipkart’s Rising Steps
- In 2014, Flipkart bought clothing online store Myntra in the fashion sector for $ 300 million.
- Just 2 years later, Jabong bought another fashion-related company for $ 70 million.
- Now it was the turn of payment startp company PhonePe which he bought in 2016.
- Flipkart did not stop here, after this, Ebay invested $ 500 million in exchange for an equity stake in it and also sold ebay.in to Flipkart.
Japan’s SoftBank is its largest investor, holding a 23-24% stake. In this beginning, Nesper, a South African media and Internet company, is also involved. Who has a 13% stake.
Flipkart Achievements and Awards
1. Flipkart’s Sachin Bansal was awarded the title of Best Businessman for the years 2012-2013 by The Economics Times, India’s largest economic daily newspaper.
2. Flipkart was awarded the title of young turk of year by CNBC in 2012.
3. In addition, in September 2015, Forbes India released the list of the richest human being, in which Sachin and Binny Bansal were ranked 86th and both had an amount of $ 1.3 billion.
4. The following year, in 2016, Times magazine was listed in the list of 100 most influential people.
Flipkart Delivery Service
Flipkart uses its own logistic service to deliver its delivery to the people, which is named EKart. The most important thing to get success in online shopping is whether or not you are able to give delivery to your customer on time as well as what kind of facility is there to take payment from them. Whether or not you are able to deliver the order in each area, the more areas you can capture, the more your customers will be.
Keeping all these things in mind, Flipkart started its own logistic service which is completely in its control. Taking this together, they built warehouses in every area as per the requirement in the entire country from where any order can be fulfilled as soon as possible. Today EKart is India’s largest logistics service and supply chain company, delivering its delivery to over 3800 pincodes.
EKart is a very important opportunity for sellers working in India, through which they can send their products to Flipkart very easily through it anywhere. EKart has become a backbone for Flipkart.
How Does Flipkart Works?
In a market model, Flipkart forms relationships with all sellers who want to sell their products. Flipkart has the great advantage of building relationships with sellers in different places. With this, they can negotiate with the sellers of the best price and service.
Let us understand this by example. Suppose a fridge has a contact with 5 sellers to sell. When an order for a fridge is received, the order that Flipkart will sell at the best price is routed to them. When a customer living in Ahmedabad places an order, then the seller of Flipkart in Ahmedabad will send the same goods to them and in this way they do not incur the cost of logistic and the delivery of the product is done in a very short time.
Goods are delivered in 2 ways
Inventory (own stock)
When the seller product is available for which the customer orders. In such a situation, they simply handover that product to seller EKart.
Dropshipping is a way in which the seller does not have inventory of that product, that is, he has absolutely zero stock of that product. Now what the seller does is that to fulfill the order of that product, the seller sends the request of the order directly to the manufacturer, retailer or wholeseller. After which they handover that product to EKart.
How do I order Returns?
By the way, when you buy any goods on a normal basis, warranty is guaranteed, but there is very little sight that you get money after returning the goods. Flipkart has also given the facility to return orders while improving the facilities given to customers in this case. If a customer is not satisfied with the product, then he can send it back.
When the customer sends the order back, the seller has to wait for 30 days to receive that product back. To overcome this problem, Flipkart has started offering a new service under which sellers can store their products in the warehouse of EKart, so that the product is delivered to the customer within 24 hours. . This service is known as Flipkart Advance.
Like other online shopping websites, there are many payment options available in it. Which gives good facility to the customers shopping here. Although Cash on Delivery was started by Flipkart, it has been continuously fulfilling orders through this option to people. Due to which the confidence of people towards online shopping has increased considerably. Let us know how in Flipkart we have lost money for our order.
Wallet (Paytm, Phone Pe)
Cash On Delivery
We now avoid going to the market to meet the needs of every day and get all our items sitting at home. That is why today we have known and talked about the company providing this kind of service, what is Flipkart and also we have also known who is the CEO of Flipkart and what is its history. Now if you imagine once that even today there was no online shopping store like this, we would have to go to the market for all the work. Even such things which are not available around us, it would have been impossible to get it.
There are many similar things that we do today with ease and convenience, such as not getting the product back if you don’t like it, that’s why these types of online shopping stores are very beneficial for us. If you also feel that online shopping gives us a lot of benefits, then please comment on your opinion and if you like this post, then share it in Facebook, Twitter, Instagram more and more.