Flipkart, the country's premier e-commerce company, has laid the foundation of two IIT graduates Sachin and Binny Bansal. Today, 11 years ago, i.e., started as a start-up in 2007, was seen in the list of companies known in the country. But the founder members who have created Flipkart have now been shown the way out of the company.
Flipkart has been bought by American company Wallmart. Wallmart's Flipkart currently holds 77 percent stake. Prior to the deal with Flipkart's Wallmart, Sachin Bansal had to leave the company and on this Tuesday, ie, on November 13, Binny Bansal has also formally resigned from the post of Flipkart Group CEO (Chief Executive). Let's know how the company that started as a start-up became the popular e-commerce company in the country.
Such a beginning
On September 15, 2007, Sachin and Binny Bansal laid the foundation of this online shopping company Flipkart. Both met at IIT Delhi. Flipkart first started shipment of books online and the company's first customer was Mahbubnagar of Telangana. This year, the company's business did not go very well and only 20 shipments were made.
Company's first office
The company opened its initiative in Bengal in the year 2008. Gradually, people got attracted to Flipkart, after which the company opened 24X7 customer care service. In 2008, the company carried more than 3,400 shipments compared to 20.
Company's first employee
After this, in the year 2009, Sachin and Binny Bansal hired their first full-time employee, Ambur Ayyappa, who later became millionaires. Essel Partners became its first Venture Capital Company. It invested $ 1 million in the company. Flipkart also opened the office in Delhi and Mumbai.
Cash On Delivery Begins
In a country like India, people believe in money after purchasing goods. In view of this, Flipkart introduced Cash On Delivery in 2010. Along with this, the company has opened a subsidiary company called eKart for logistics. It included music, movies, games, electronics, and mobile in their product category. Flipkart made its first acquisition of the Warid Portal.
Big Billion Days Begins
In the year 2014, the company opened the first Big billion Days Sale for customers. After this, the company bought a large stake in fashion retailer Myntra. In addition to Myntra, After-sales service provider also bought a stake in Jeeves. In 2015, the company has completed the acquisition and fundraising round with several new launches.
Sachin Bansal becomes CEO
In the year 2016, after the removal of Flipkart CEO Binny Bansal, Sachin Bansal became the company's CEO. Earlier, Sachin Bansal was the first executive chairman of the company. This year, Times Magazine included Sachin and Binny Bansal on the list of 100 influential people in the world.
Wallmart made the landlord
Softbank Vision Fund invested $ 1.5 billion to buy a large stake in Flipkart this year. This year, the company achieved many more achievements, after which the American company Wallmart bought a large stake.
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