India’s largest online retailer Flipkart announced that its sales would cross the milestone $1 billion (INR 6200 crores) mark this year. The milestone is achieved for the year ending from Jan 2013 – Feb 2014. This also makes Flipkart, the fastest growing eCommerce companies in India. Sachin Bansal and Binny Bansal founded Flipkart in 2007. According to Alexa Internet, Flipkart’s website is one of the top 10 Indian websites.
Flipkart achieved this milestone in six years which is one year ahead of the company’s target. Amazon, Facebook, Google all achieved this mark when they were just five years old. Another eCommerce player who is most famous for their customer service Zappos reached the $1 billion mark two years earlier than expected. In addition to this, their major goal of inclusion on Fortune’s list of The Best Companies to Work For was achieved one year later. Zappos was later acquired by Amazon. So will flipkart be acquired by Amazon or Wallmart?
Flipkart started as an online store for selling books and went on to become one of the most successful startup companies of India with merchandises ranging from books, electronics, movies, fashion, gifts, kids etc. The first product sold by them was the book, Leaving Microsoft To Change The World, bought by VVK.Chandra from Andhra Pradesh. Till now Flipkart has raised around 55 crores dollars in funding. It is said that Flipkart sells 20 products per minute. Started as a standalone fulfillment model, later they changed to a market place and now sells different brands across categories. The company now has six warehouses in India including Mumbai, Delhi, Kolkata, Pune and Hyderabad.
- Registered users – 14 million
- Daily visits – Over 2 million
- Number of people who visited Flipkart last year is more than the population of the top 10 cities in India
- Approximate shipments – 1 lakh/day to over 150 Indian cities.
- Peak items shipped in a day – 1.3 lakhs (this is 4000 items shipped / hour)
- Sellers on marketplace – Over 1500
- Alexa ranking of 10
- Team strength of close to 10,000
- Operational in 20 categories with over 40 sub-categories
Over the years Flipkart has grown above eCommerce. In addition to operating more than 20 categories, Flipkart has their own online payment gateway services Payzippy which is used by many other major players like makemytrip, yepme etc. In addition to this flipkart is opening up its logistics arm eKart which caters to 150 Indian locations for other players in the industry.