Flipkart: A brief Introduction
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Flipkart is an Indian e-commerce company founded in 2007 by Sachin Bansal and Binny Bansal. It started as an online book retailer and has expanded to sell a wide range of products. It has received over $3 billion in funding from investors and has acquired several other companies. Flipkart focuses on providing customers with a simple user experience, convenient payment options, and excellent customer service, which have contributed to its success as one of the largest e-commerce companies in India.
![2014:
• On 26 May 2014, Flipkart announced that it has raised $210 million from Yuri Milner’s DST
Global and its existing investors Tiger Global, Naspers and Iconiq Capital.
• In early July 2014, it was also highly speculated that Flipkart was in negotiations to raise at
least $500 million, for a likely listing in the US for 2016.
• On 29 July 2014, Flipkart announced that it raised $1 billion[46] from Tiger Global
Management LLC, Accel Partners, and Morgan Stanley Investment Management and a new
investor Singapore sovereign-wealth fund GIC
FUNDING (Cotd)](https://image.slidesharecdn.com/flipkartintroduction-150403061644-conversion-gate01/85/Flipkart-A-brief-Introduction-10-320.jpg)
Flipkart: A brief Introduction
- 1. PRESENTED BY: Surendra Kumar Pandey
- 2. S. No. Title Slide No. 1 Company Profile 3-4 2 Company Timeline 5-6 3 Funding 7-9 4 Acquisition 10-11 5 Company Product 12-13 6 Order Lifecycle 14-16 7 Marketing Strategy 17-18 8 Success Mantra 19-21 9 Award and Recognition
- 5. COMPANY PROFILE • It is one of the leading e-commerce players in the country. • With over 11.5 million book titles listed, 11 different categories, more than 2 million registered users and sale of 30000 items a day. • Founded by Sachin bansal & Binny bansal in Bangalore, Karnataka in 2007. • Started with initial capital of INR 4 lakh. • 7 warehouses, offices and delivery centers (2011). • Revenue is of 1366 Crore.. • 33000 employees till December 2014. • Subsidiarie is Myntra.
- 7. COMPANY TIMELINE• Flipkart was established in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. • They worked for Amazon.com before quitting and founding their own company. • Initially they used word of mouth marketing to popularize their company. • A few months later, the company sold its first book on flipkart.com - John Woods' Leaving Microsoft to Change the World. • Also it had experienced 2 million unit sales and 4 million unique vistors per month with sales growing at 25% per month • The store started with selling books and in 2010 branched out to selling CDs, DVDs, mobile phones & accessories, cameras, computers, computer accessories and peripherals, pens & office supplies, other electronic items such as home appliances, kitchen appliances, personal care gadgets, health care products etc. • As of today, Flipkart employs over 33,000 people.
- 9. FUNDING • Initially funded by the Bansals themselves with 4 Lakhs(INR). • 2009:Flipkart has since then raised fund from venture capital Accel India (US$10 million). • 2010:Flipkart has since then raised fund from Tiger Global (US$10 million). • 2011: Flipkart has since then raised fund from Tiger Global (US$20 million). • 2012:Flipkart announced the completion of its 4th round of $150 million funding from MIH (part of Naspers Group) and ICONIQ Capital. • 2013:The company announced, on 10 July 2013, that it has raised an additional $200 million from existing investors including Tiger Global, Naspers, Accel Partners and Iconiq Capital.
- 10. 2014: • On 26 May 2014, Flipkart announced that it has raised $210 million from Yuri Milner’s DST Global and its existing investors Tiger Global, Naspers and Iconiq Capital. • In early July 2014, it was also highly speculated that Flipkart was in negotiations to raise at least $500 million, for a likely listing in the US for 2016. • On 29 July 2014, Flipkart announced that it raised $1 billion[46] from Tiger Global Management LLC, Accel Partners, and Morgan Stanley Investment Management and a new investor Singapore sovereign-wealth fund GIC FUNDING (Cotd)
- 12. ACQUISITION • 2010: WEREAD, a social book discovery tool.The stated goal was to give Flipkart a social recommendation platform for buyers to make informed decisions based on recommendations from people within their social network. • 2011: Mime360, a digital content platform company. • 2011: Chakpak.com is a Bollywood news site that offers updates, news, photos and videos. Flipkart acquired the rights to Chakpak’s digital catalogue which includes 40,000 filmographies, 10,000 movies and close to 50,000 ratings. Flipkart has categorically said that it will not be involved with the original site and will not use the brand name. • 2012: Letsbuy.com is India's second largest e-retailer in electronics. Flipkart has bought the company for an estimated US$ 25 million.
- 14. PRODUCT RANGE Following is the general product category available in flipkart.com • Books. • Mobiles & Accessories • Computers • Cameras • Games & Consoles • Movies & TV Show • Music • MP3 Players & iPods • Personal & Health Care • Home Appliances • TV & Video
- 16. • Attract users to the site • Family, Friends, SEO, SEM,WoM, Brand Building • Provide selection • Make it easy to Find & Discover products • Provide details to evaluate a product Description, Specifications, UGC. • Price well Have to be competitive to the most obvious options • Provide convenient payment options Online, COD • Confirm payment ORDER LIFECYCLE
- 17. Get the item Procure from Supplier (Just-in-time) (Supplier selection) Keep Inventory (Inventory Prediction, Planning) Clean & Check for sanity Pages missing, MRP printed lesser than told to you Pack the item Tamper proof, weather proof, breakage proof Select courier & hand-over Courier performances vary across regions a LOT Get tracking id & communicate to customer Follow-up for timely delivery Take care of returns (faulty product/user changes their mind) Minimize returns ORDER LIFECYCLE (Cont)
- 19. • Flipkart has been mostly marketed by word of mouth advertising. • Customer satisfaction has been their best marketing medium. • Flipkart very wisely used SEO (Search Engine Optimization) and Google Ad-words as the marketing tools to have a far reach in the online world. • Flipkart.com official Face book page has close to 9 lac 'likes'. Flipkart recently launched a series of 3 ads with the tag line - "No Kidding No worries" • Kids were used to create the adverts to send out the message - if a kid can do it, you can also do it. • All in all to create a great customer experience. MARKETING STRATEGY
- 21. FLIPKART SUCCESS MANTRA • Great customer service Flipkart users are more satisfied than that of their competitors. Great customer service has been its hallmark. • Easy to use website, hassle free payment system The user interface is sleek and easy to use. • Cash on delivery/Card on delivery mode of payment This has been a major instrument in Flipkart’s success. Almost 60% of its sales happen through this mode. Cash on delivery created trust in the minds of Indian customers who were always weary of making payments online.
- 22. •Focused on user experience Every other e-commerce site, tried to cram the maximum of amount of information possible into every single page where as Flipkart focused on providing only the relevant info. FLIPKART SUCCESS MANTRA
- 24. •Co-Founder of Flipkart Sachin Bansal, got Entrepreneur of the Year Award 2012- 2013 from Economic Times, leading Indian Economic Daily. •Flipkart.com was awarded Young Turk of the Year at CNBC TV 18's 'India Business Leader Awards 2012' (IBLA). •Flipkart.com- got Nominated for IndiaMART Leaders of Tomorrow Awards 2011. AWARDS AND RECOGNITION