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Wikipedia

Flipkart

February 15, 2024

Flipkart Private Limited is an Indian Multinational 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.[5][6]

Flipkart
Company typeSubsidiary
IndustryE-commerce
Founded2007 (17 years ago) (2007)
Founder
Headquarters
Area served
India
Key people
Kalyan Krishnamurthi (CEO)[1]
ServicesOnline shopping
Revenue
  • ₹56,013 crore (US$7.0 billion)[2]
 (FY2022-23)
  • ₹−4,834 crore (US$−610 million)[2]
 (FY2022-23)
Owner
Number of employees
22,000 (excluding Myntra)[4] (January 2024)
ParentWalmart
Subsidiaries
Websitewww.flipkart.com

The service competes primarily with Amazon India and domestic rival Snapdeal.[7][8] As of March 2017, Flipkart held a 39.5% market share in the Indian e-commerce industry.[9] 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.[10]

History edit

2007-2010: Start-up phase edit

Flipkart was founded in October 2007 in Bangalore[11] by Sachin Bansal and Binny Bansal, alumni of the IIT, Delhi and former Amazon employees.[12][13][14] The company was started from a two-bedroom apartment in Kormangala, Bengaluru. The initial investment was provided by their families, which was INR 2 Lakh from each family. The website was kicked off in October 2007 and the company was only limited to selling books at that time.[15] 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.[16] In 2010, Flipkart acquired the Bangalore-based social book discovery service We Read from Lulu.com.[17]

2011-2014: Growth, mergers and acquisitions edit

In 2011, Flipkart acquired the digital distribution business Mime360.com[18] and the digital content library of the Bollywood portal Chakpak.[19] Following the acquisition, Flipkart launched its DRM-free Digital music store Flyte in 2012. Due to competition from free streaming sites, Flyte was unsuccessful and shut down in June 2013.[20][21][22][23] Mime360 was a content distributor that used HTTP-based encryption technology that allows for fast and secure data delivery. It distributed music, media and games using it's distribution platform.[24]

With its eyes on India's retail market, Flipkart acquired Letsbuy, an online electronics retailer,[25] in 2012, and Myntra, an online fashion retailer, for US$280 million in May 2014.[26] Myntra continues to operate alongside Flipkart as a standalone subsidiary focusing on separate market segments.[27]

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.[28] 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.[29]

2015-2024 edit

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.[30] In December 2015, Flipkart purchased a minority stake in the digital mapping provider MapmyIndia[31] and the UPI mobile payments startup PhonePe.[32][33] 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 million was to be made to the former and current employees who were holding PhonePe's shares.[34][35]

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.[36]

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.[37][38] 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.[39]

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.[40] Flipkart is valued at $37.6 billion as of 2022.[41] It is planning to go public through a listing in the United States of America in 2023.[42]

Flipkart invested US$4 million in the customer engagement and rewards platform EasyRewardz on 19 November 2019.[43][44]

In 2020, Flipkart Wholesale launched a digital platform for kiranas and MSMEs.[45] 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.[46] 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.[47]

In October 2020, Flipkart acquired a 7.8% stake in Aditya Birla Fashion and Retail for US$204 million.[48][49] The following month, Flipkart acquired the intellectual property of gaming startup Mech Mocha for an undisclosed amount.[50] The acquisition formed part of Flipkart's plans to gain and retain users by offering casual games.[51] 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.[52]

As of 2021, the Flipkart app was available in 8 local Indian languages, Gujarati, Bengali, Odia, Hindi, Telugu, Kannada, Marathi and Tamil.[53]

In April 2021, Flipkart announced the acquisition of the travel booking portal Cleartrip.[54] Flipkart also entered the hotel industry for the Indian and global markets. The Flipkart Hotels uses Cleartrip API.[55] 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.[56]

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.[57] The same month, the company established the Flipkart Foundation to support entrepreneurship and skill development within the underserved communities in India.[58]

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.[59] The NFT drop happened at FireDrops - which was done on Flipkart's NFT marketplace, supported by GuardianLink.[60] 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.[61] 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.[citation needed]

The e-commerce also started a virtual storefront that is dedicated to the academic needs of students named 'Flipkart Student's Club'.[62] The 'Flipkart Green' venture was created in 2023 for customers who want to have a sustainable lifestyle by providing certified sustainable products.[63]

Binny Bansal resigned from the executive team on January 28, 2024, and over the past few months, he has completely divested his stake. In the last year, Binny, along with Excel and Tiger Global Management, sold their entire stake to Walmart, resulting in Binny earning around 1.5 billion dollars. Walmart had acquired a 77% stake in Flipkart for 16 billion dollars in May 2018.[64]

Big Billion Days edit

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.[65] Flipkart held a 51% share of all Indian smartphone shipments in 2017, overtaking Amazon India (33%).[66]

Walmart investment edit

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.[67][68] On 9 May 2018, Walmart officially announced its intent to acquire a 77% controlling stake in Flipkart for US$16 billion.[69] Following the purchase, Flipkart co-founder Sachin Bansal left the company. The remaining management team reported to Marc Lore, CEO of Walmart eCommerce US.[70] Walmart president Doug McMillon cited plans to help Flipkart with its sourcing and supply chain while tapping on its expertise to expand Walmart globally.[71] Indian traders protested against the deal, considering it a threat to domestic business.[72][73]

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".[74][75]

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."[37] Softbank Group also sold its entire 20% stake to Walmart without disclosing the terms of the sale.[76] 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.[77][78]

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."[79][80]

On 22 December 2023, Flipkart Confirmed that US$600 Million will be raised from Walmart out of its total fundraising plan of US$1 Billion. The expected valuation of the deal will range from US$34 Billion to US$37 Billion. In 2022 after PhonePe's separation, Flipkart was last valued at around US$33 Billion.[citation needed]

Other ventures edit

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.[81] In December 2021, Shopsy entered the grocery delivery segment in 700 cities across India.[82][83] 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.[84][85]

Business structure edit

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.[86] 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).[87][88] 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.[89]

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

Name Type Since Current stake
Myntra Fashion 2014 100%[90]
Ekart Logistics 2015 [91]
Flipkart Wholesale B2B e-commerce 2020 100%[92]
Cleartrip Travel booking 2021 80%[93]
Flipkart Health+ Healthcare 2021 75.1%[94]

Flipkart has made 22 acquisitions and 27 investments, spending over US$415 million for the acquisitions.[95] Flipkart has invested in multiple sectors such as e-commerce, consumer electronics, local services and more.[citation needed] In 2022, it also revised its policies for sellers in an attempt to make it more seller-friendly. This included simplifying the rate card and reducing fee for return costs.[96] In 2022, Flipkart reportedly hosted 1.1 Million sellers.[97]

Funding and Revenue edit

The initial development budget of Flipkart was ₹400,000 (US$5,000).[98] It later raised funding from venture capital firms Accel India (receiving US$1 million in funding in 2009)[99][100] and Tiger Global (US$10 million in 2010 and US$20 million in June 2011).[101][102][103] 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.[104]

Flipkart's reported sales were ₹40 million (US$500,000) in the FY2008–09,[105][106] ₹200 million (US$2.5 million) in the FY2009–10[107] and ₹750 million (US$9.4 million) in the FY2010–11.[108]

Flipkart reported a loss of ₹2.81 billion (US$35 million) for the FY2012–13.[109] In July 2013, Flipkart raised US$160 million from private equity investors.[110]

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.[111][112][113]

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.[114]

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.[115][116]

In December 2014, after it received US$700 million from another round of funding, Flipkart had a market cap of US$11 billion.[117]

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.[118] 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.[119]

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.[120] In April 2017, Flipkart underwent another round of funding, receiving US$1.4 billion in funding from investors including eBay, Microsoft, and Tencent.[121] On 10 August 2017, SoftBank Vision Fund invested another US$2.5 billion in Flipkart.[122]

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.[123]

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.[124][125]

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.[126] 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).[127]

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.[128]

Regulatory action and lawsuits edit

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.[129][130] On 30 November 2012, Flipkart's offices were raided by the Enforcement Directorate. Documents and computer hard drives were seized by the agency.[131] In August 2014, the Enforcement Directorate claimed that it had found Flipkart to be in violation of the Foreign Exchange Management Act.[132] The Delhi High Court declared that several e-commerce firms, including Flipkart, had violated foreign investment regulations.[133]

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.[134] The same month, the Department of Industrial Policy and Promotion (DIPP) clarified that it did not recognise the marketplace model of online retail.[135] 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.[136]

Consumer affairs edit

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.[137] Such scams have also been reported in the past where soaps were delivered instead of IPhone on Flipkart[138] and also on Amazon.[139][140]

House brands edit

Flipkart operates several house brands, including Citron[141] (home appliances) and Digiflip (formerly for electronics and accessories).[142] In 2017, Flipkart launched additional house brands, including Billion (smartphones),[143] Smartbuy (electronics accessories, effectively replacing Digiflip),[144] and MarQ (for large appliances, although its launch was complicated by a trademark dispute with an existing company, Marc Enterprises).[145]

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.[146] A 43-inch TV was unveiled on 4 June 2020.[147]

Flipkart Video edit

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.[148][149]

Flipkart Video Originals edit

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.[150][151]

Criticism edit

On 13 September 2014, a Flipkart deliveryman allegedly molested a housemaid in Hyderabad.[152] The housemaid's employer sued Flipkart for this incident, citing the need for regulations to make offline delivery services safer.[153]

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.[154][155][156]

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.[157]

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.[158] In 2016, delivery executive Nanjunda Swamy was murdered by a customer who did not have enough money to pay for a product.[159] 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.[160]

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.[161]

Awards and recognition edit

  • Sachin Bansal was awarded Entrepreneur of the Year, 2012–13 from The Economic Times, a leading Indian economic daily newspaper.[162]
  • 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.[163]
  • In April 2016, Sachin and Binny Bansal were named to Time magazine's annual list of the 100 Most Influential People in the World.[164]
  • 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.[165] 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.[166]

See also edit

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External links edit

 
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  • Official website  

February 15, 2024
flipkart, private, limited, indian, multinational, commerce, company, headquartered, bangalore, incorporated, singapore, private, limited, company, company, initially, focused, online, book, sales, before, expanding, into, other, product, categories, such, con. Flipkart Private Limited is an Indian Multinational 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 5 6 FlipkartCompany typeSubsidiaryIndustryE commerceFounded2007 17 years ago 2007 FounderSachin BansalBinny BansalHeadquartersBangalore Karnataka India operational HQ Singapore legal domicile Area servedIndiaKey peopleKalyan Krishnamurthi CEO 1 ServicesOnline shoppingRevenue 56 013 crore US 7 0 billion 2 FY2022 23 Net income 4 834 crore US 610 million 2 FY2022 23 OwnerWalmart 75 Others 25 3 Number of employees22 000 excluding Myntra 4 January 2024 ParentWalmartSubsidiariesANS Commerce Cleartrip Ekart Flipkart Health Flipkart Wholesale Jeeves F1 Myntra Shopsy YaantraWebsitewww wbr flipkart wbr comThe service competes primarily with Amazon India and domestic rival Snapdeal 7 8 As of March 2017 Flipkart held a 39 5 market share in the Indian e commerce industry 9 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 10 Contents 1 History 1 1 2007 2010 Start up phase 1 2 2011 2014 Growth mergers and acquisitions 1 3 2015 2024 1 4 Big Billion Days 1 5 Walmart investment 1 6 Other ventures 2 Business structure 3 Funding and Revenue 4 Regulatory action and lawsuits 5 Consumer affairs 6 House brands 7 Flipkart Video 7 1 Flipkart Video Originals 8 Criticism 9 Awards and recognition 10 See also 11 References 12 External linksHistory edit2007 2010 Start up phase edit Flipkart was founded in October 2007 in Bangalore 11 by Sachin Bansal and Binny Bansal alumni of the IIT Delhi and former Amazon employees 12 13 14 The company was started from a two bedroom apartment in Kormangala Bengaluru The initial investment was provided by their families which was INR 2 Lakh from each family The website was kicked off in October 2007 and the company was only limited to selling books at that time 15 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 16 In 2010 Flipkart acquired the Bangalore based social book discovery service We Read from Lulu com 17 2011 2014 Growth mergers and acquisitions edit In 2011 Flipkart acquired the digital distribution business Mime360 com 18 and the digital content library of the Bollywood portal Chakpak 19 Following the acquisition Flipkart launched its DRM free Digital music store Flyte in 2012 Due to competition from free streaming sites Flyte was unsuccessful and shut down in June 2013 20 21 22 23 Mime360 was a content distributor that used HTTP based encryption technology that allows for fast and secure data delivery It distributed music media and games using it s distribution platform 24 With its eyes on India s retail market Flipkart acquired Letsbuy an online electronics retailer 25 in 2012 and Myntra an online fashion retailer for US 280 million in May 2014 26 Myntra continues to operate alongside Flipkart as a standalone subsidiary focusing on separate market segments 27 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 28 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 29 2015 2024 edit 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 30 In December 2015 Flipkart purchased a minority stake in the digital mapping provider MapmyIndia 31 and the UPI mobile payments startup PhonePe 32 33 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 million was to be made to the former and current employees who were holding PhonePe s shares 34 35 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 36 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 37 38 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 39 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 40 Flipkart is valued at 37 6 billion as of 2022 41 It is planning to go public through a listing in the United States of America in 2023 42 Flipkart invested US 4 million in the customer engagement and rewards platform EasyRewardz on 19 November 2019 43 44 In 2020 Flipkart Wholesale launched a digital platform for kiranas and MSMEs 45 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 46 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 47 In October 2020 Flipkart acquired a 7 8 stake in Aditya Birla Fashion and Retail for US 204 million 48 49 The following month Flipkart acquired the intellectual property of gaming startup Mech Mocha for an undisclosed amount 50 The acquisition formed part of Flipkart s plans to gain and retain users by offering casual games 51 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 52 As of 2021 the Flipkart app was available in 8 local Indian languages Gujarati Bengali Odia Hindi Telugu Kannada Marathi and Tamil 53 In April 2021 Flipkart announced the acquisition of the travel booking portal Cleartrip 54 Flipkart also entered the hotel industry for the Indian and global markets The Flipkart Hotels uses Cleartrip API 55 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 56 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 57 The same month the company established the Flipkart Foundation to support entrepreneurship and skill development within the underserved communities in India 58 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 59 The NFT drop happened at FireDrops which was done on Flipkart s NFT marketplace supported by GuardianLink 60 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 61 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 citation needed The e commerce also started a virtual storefront that is dedicated to the academic needs of students named Flipkart Student s Club 62 The Flipkart Green venture was created in 2023 for customers who want to have a sustainable lifestyle by providing certified sustainable products 63 Binny Bansal resigned from the executive team on January 28 2024 and over the past few months he has completely divested his stake In the last year Binny along with Excel and Tiger Global Management sold their entire stake to Walmart resulting in Binny earning around 1 5 billion dollars Walmart had acquired a 77 stake in Flipkart for 16 billion dollars in May 2018 64 Big Billion Days edit 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 65 Flipkart held a 51 share of all Indian smartphone shipments in 2017 overtaking Amazon India 33 66 Walmart investment edit 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 67 68 On 9 May 2018 Walmart officially announced its intent to acquire a 77 controlling stake in Flipkart for US 16 billion 69 Following the purchase Flipkart co founder Sachin Bansal left the company The remaining management team reported to Marc Lore CEO of Walmart eCommerce US 70 Walmart president Doug McMillon cited plans to help Flipkart with its sourcing and supply chain while tapping on its expertise to expand Walmart globally 71 Indian traders protested against the deal considering it a threat to domestic business 72 73 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 74 75 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 37 Softbank Group also sold its entire 20 stake to Walmart without disclosing the terms of the sale 76 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 77 78 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 79 80 On 22 December 2023 Flipkart Confirmed that US 600 Million will be raised from Walmart out of its total fundraising plan of US 1 Billion The expected valuation of the deal will range from US 34 Billion to US 37 Billion In 2022 after PhonePe s separation Flipkart was last valued at around US 33 Billion citation needed Other ventures edit 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 81 In December 2021 Shopsy entered the grocery delivery segment in 700 cities across India 82 83 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 84 85 Business structure editAccording 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 86 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 87 88 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 89 Notable companies in which Flipkart Group owns a controlling stake include Name Type Since Current stakeMyntra Fashion 2014 100 90 Ekart Logistics 2015 91 Flipkart Wholesale B2B e commerce 2020 100 92 Cleartrip Travel booking 2021 80 93 Flipkart Health Healthcare 2021 75 1 94 Flipkart has made 22 acquisitions and 27 investments spending over US 415 million for the acquisitions 95 Flipkart has invested in multiple sectors such as e commerce consumer electronics local services and more citation needed In 2022 it also revised its policies for sellers in an attempt to make it more seller friendly This included simplifying the rate card and reducing fee for return costs 96 In 2022 Flipkart reportedly hosted 1 1 Million sellers 97 Funding and Revenue editThe initial development budget of Flipkart was 400 000 US 5 000 98 It later raised funding from venture capital firms Accel India receiving US 1 million in funding in 2009 99 100 and Tiger Global US 10 million in 2010 and US 20 million in June 2011 101 102 103 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 104 Flipkart s reported sales were 40 million US 500 000 in the FY2008 09 105 106 200 million US 2 5 million in the FY2009 10 107 and 750 million US 9 4 million in the FY2010 11 108 Flipkart reported a loss of 2 81 billion US 35 million for the FY2012 13 109 In July 2013 Flipkart raised US 160 million from private equity investors 110 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 111 112 113 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 114 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 115 116 In December 2014 after it received US 700 million from another round of funding Flipkart had a market cap of US 11 billion 117 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 118 As of May 2015 update 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 119 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 120 In April 2017 Flipkart underwent another round of funding receiving US 1 4 billion in funding from investors including eBay Microsoft and Tencent 121 On 10 August 2017 SoftBank Vision Fund invested another US 2 5 billion in Flipkart 122 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 123 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 124 125 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 500 000 126 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 127 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 45 801 128 Regulatory action and lawsuits editIn 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 129 130 On 30 November 2012 Flipkart s offices were raided by the Enforcement Directorate Documents and computer hard drives were seized by the agency 131 In August 2014 the Enforcement Directorate claimed that it had found Flipkart to be in violation of the Foreign Exchange Management Act 132 The Delhi High Court declared that several e commerce firms including Flipkart had violated foreign investment regulations 133 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 134 The same month the Department of Industrial Policy and Promotion DIPP clarified that it did not recognise the marketplace model of online retail 135 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 136 Consumer affairs editIn 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 137 Such scams have also been reported in the past where soaps were delivered instead of IPhone on Flipkart 138 and also on Amazon 139 140 House brands editFlipkart operates several house brands including Citron 141 home appliances and Digiflip formerly for electronics and accessories 142 In 2017 Flipkart launched additional house brands including Billion smartphones 143 Smartbuy electronics accessories effectively replacing Digiflip 144 and MarQ for large appliances although its launch was complicated by a trademark dispute with an existing company Marc Enterprises 145 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 146 A 43 inch TV was unveiled on 4 June 2020 147 Flipkart Video editFlipkart 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 148 149 Flipkart Video Originals edit 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 150 151 Criticism editOn 13 September 2014 a Flipkart deliveryman allegedly molested a housemaid in Hyderabad 152 The housemaid s employer sued Flipkart for this incident citing the need for regulations to make offline delivery services safer 153 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 154 155 156 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 157 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 158 In 2016 delivery executive Nanjunda Swamy was murdered by a customer who did not have enough money to pay for a product 159 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 160 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 161 Awards and recognition editSachin Bansal was awarded Entrepreneur of the Year 2012 13 from The Economic Times a leading Indian economic daily newspaper 162 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 163 In April 2016 Sachin and Binny Bansal were named to Time magazine s annual list of the 100 Most Influential People in the World 164 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 165 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 166 See also editE commerce in India Online shoppingReferences edit Kalyan Krishnamurthy to be Flipkart s new CEO Sachin Bansal to remain group chairman The Economic Times 10 January 2017 a b Yadav Pihu 23 December 2023 Flipkart reports a revenue of 56 013 crore in 2022 23 fiscal CNBCTV 18 Retrieved 19 January 2024 Bera Ayanti 22 December 2023 Walmart invests 600 million in Flipkart The Financial Express Retrieved 19 January 2024 Flipkart layoffs Company plans to fire 1 100 1 500 employees says report Buisness Today 8 January 2024 Retrieved 19 January 2024 Flipkart India online retail giant raises 3 6bn in latest funding round BBC Home 13 July 2021 Retrieved 21 December 2023 This Indian favourite emerged as the most shopped clothing item on Flipkart in 2023 Moneycontrol 18 December 2023 Retrieved 21 December 2023 Halzack Sarah 9 May 2018 Walmart Is Right on Flipkart Despite Investor Qualms Bloomberg Retrieved 11 May 2018 Punit Itika Sharma Snapdeal may die a slow and painful death Quartz Retrieved 11 May 2018 Sharma Nishant 23 March 2018 This Is Why Amazon Hasn t Beaten Flipkart In India Yet Bloomberg Quint Retrieved 23 March 2018 Tandon Suneera Why Walmart bought Flipkart according to Walmart Quartz Retrieved 13 May 2018 The Economic Times Business News Personal Finance Financial News India Stock Market Investing Economy News SENSEX NIFTY NSE BSE Live IPO News economictimes indiatimes com Retrieved 22 January 2024 Joseph Tejaswi Mini 2 May 2013 Flipkart goes for fashion branding The Times of India Retrieved 5 October 2013 Kurian Boby Sharma Samidha 4 May 2018 Flipkart co founder likely to quit after Walmart takeover The Times of India Geetika Rustagi 4 August 2010 Now order your next mobile on Flipkart Livemint Retrieved 19 August 2010 www ETRetail com The journey of Flipkart founders Sachin and Binny Bansal ET Retail ETRetail com Retrieved 2 February 2024 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 Flipkart Buys Social Book Discovery Tool WeRead VCCircle 22 December 2010 Retrieved 10 May 2018 Nikhil Pahwa 11 October 2011 Flipkart Acquires Mime360 To Launch Digital Distribution of Music E books Games MediaNama Retrieved 14 October 2011 Saxena Anupam 25 November 2011 Updated Flipkart Acquires Bollywood Site Chakpak s Digital Catalogue Inline With Digital Downloads MediaNama Retrieved 11 February 2018 Lal Abhinav 24 February 2012 Flipkart to launch Flyte Digital Store in March Digit India 9 9 Media Retrieved 27 February 2012 Exclusive Flipkart to Shutdown Flyte MP3 Store To Exit Digital Music Business NextBigWhat Retrieved 29 May 2013 Flyte MP3 Store Shutting Down ThinkDigit Retrieved 29 May 2013 Pahwa Nikhil 29 May 2013 Why Flipkart Shut Down Flyte Music MediaNama Retrieved 29 May 2013 Tech in Asia Connecting Asia s startup ecosystem www techinasia com Retrieved 2 February 2024 Flipkart Buys Letsbuy in Cash Equity Deal Business Standard 11 May 2012 Retrieved 9 February 2012 Big deal Flipkart acquires online fashion retailer Myntra The Indian Express 22 May 2014 Retrieved 22 May 2014 Sen Anirban 9 January 2018 Flipkart fashion business catches up with Myntra Livemint Retrieved 13 May 2018 Flipkart Big Billion Days Sale to Be App Only Start October 13 Gadgets360 com Retrieved 10 May 2018 Thimmaya PP 19 October 2015 Flipkart Big Billion Days sale does 300 million GMV in business The Financial Express Retrieved 10 May 2018 Flipkart acquires mobile marketing firm Appiterate The Economic Times 30 April 2015 Retrieved 10 May 2018 Dalal Mihir 3 December 2015 Flipkart buys stake in MapmyIndia to improve delivery operations Mint Retrieved 10 May 2018 Flipkart owned Myntra acquires fashion and lifestyle site Jabong Hindustan Times 26 July 2016 Retrieved 10 May 2018 Chathurvedula Sadhana 4 April 2016 Flipkart acquires UPI based payments start up PhonePe Livemint PhonePe separation official online payments firm to be India domiciled now The Economic Times Retrieved 5 January 2023 Flipkart rewards 25 000 past and present employees with a 700 million windfall Moneycontrol 27 December 2022 Retrieved 5 January 2023 Russell Jon 18 January 2017 Flipkart backs parenting network TinyStep with 2 million investment TechCrunch Retrieved 10 May 2018 a b eBay to sell stake in Flipkart for about 1 1 billion to relaunch eBay India The Economic Times 10 May 2018 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 SN Vikas 10 April 2017 Flipkart raises 1 4Bn from Tencent eBay amp Microsoft at 11 6Bn valuation acquires eBay India The Economic Times Retrieved 20 April 2017 Walmart and Flipkart Announce Completion of Walmart Investment in Flipkart India s Leading Marketplace eCommerce Platform Walmart 18 August 2018 Retrieved 14 June 2019 Flipkart may now seek 70 billion valuation for its US listing Bhalla Kritti 7 April 2022 Flipkart may now seek 70 billion valuation for its US listing Business Insider India Retrieved 24 December 2022 Flipkart invests in EasyRewardz The Times of India 19 November 2019 Retrieved 20 November 2019 Flipkart invests in customer rewards platform EasyRewardz ETtech 19 November 2019 Retrieved 20 November 2019 Jagannath J 2 September 2020 Flipkart Wholesale launches digital platform for kiranas MSMEs Livemint Retrieved 7 January 2021 Balram Smita Shrivastava Aditi Flipkart to invest Rs 260 crore in Arvind Fashions arm The Economic Times Retrieved 19 July 2020 Srivastava Moulishree 29 July 2020 Flipkart rolls out hyperlocal delivery service to compete with Dunzo and Swiggy KrASIA Retrieved 16 August 2022 Buch Himadri Farooqui Maryam 23 October 2020 How will Flipkart and Aditya Birla Fashion Retail deal benefit both entities Moneycontrol Retrieved 24 October 2020 Singh Manish 23 October 2020 India s Flipkart buys 204 million stake in Aditya Birla Fashion and Retail TechCrunch Retrieved 24 October 2020 Flipkart acquires gaming startup Mech Mocha The Economic Times Retrieved 16 August 2022 Tiwary Avanish 4 November 2020 Flipkart acquires gaming startup Mech Mocha to expand customer base KrASIA Retrieved 16 August 2022 Srivastava Moulishree 17 November 2020 Flipkart s acquisition of augmented reality startup Scapic aimed at enhancing customer experience KrASIA Retrieved 16 August 2022 Flipkart adds Gujarati app now available in eight Indian languages Business Today 9 April 2021 Retrieved 11 September 2022 Flipkart acquires Cleartrip as part of its diversification drive The Economic Times Retrieved 21 June 2022 Abrar Peerzada 7 September 2022 Flipkart launches Flipkart Hotels for domestic international market www business standard com Retrieved 8 February 2023 Bureau BL Mumbai 21 February 2022 Wego to Acquire Cleartrip s Middle East Business from Flipkart www thehindubusinessline com Retrieved 22 March 2023 Abrar Peerzada 8 April 2022 Flipkart launches its first grocery fulfilment centre in Northeast Business Standard Retrieved 27 August 2022 Flipkart Foundation to support entrepreneurship skill development The Economic Times 5 April 2022 Retrieved 27 August 2022 Ahaskar Abhijit 14 July 2022 Flipkart ventures into NFTs with Nothing s airdrop mint Retrieved 1 October 2022 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 Livemint 17 October 2022 Flipkart launches metaverse shopping platform How to shop in Flipverse mint Retrieved 24 October 2022 Abrar Peerzada 30 May 2022 Flipkart starts initiative for academic extracurricular needs of students www business standard com Retrieved 23 March 2023 Flipkart Green e store for sustainable products launched www thehindubusinessline com 5 January 2023 Retrieved 24 June 2023 Why Binny Bansal Left Flipkart Exploring the Move and the Rise of OppDoor 29 January 2024 Retrieved 31 January 2024 Punit Itika Sharma In 20 hours Flipkart sold a record breaking 1 3 million smartphones Quartz Retrieved 11 May 2018 Mishra Digbijay 26 February 2018 Flipkart beats Amazon in m sales The Times of India Retrieved 11 May 2018 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 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 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 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 Walmart acquires Flipkart for 16 bn world s largest ecommerce deal The Economic Times 9 May 2018 Retrieved 9 May 2018 Walmart wins battle for India s Flipkart BBC News 9 May 2018 Retrieved 9 May 2018 Indian traders protest 16 billion Walmart Flipkart deal TRTWorld Retrieved 4 July 2018 Sen Anirban 14 May 2018 Walmart has long term plans for Flipkart an IPO isn t one of them Livemint Retrieved 14 May 2018 Loizos Connie 14 May 2018 Walmart s deal to buy Flipkart came with an interesting caveat TechCrunch Retrieved 14 May 2018 SoftBank is selling its entire Flipkart stake to Walmart CNBC 22 May 2018 Retrieved 23 May 2018 Walmart completes deal to acquire 77 stake in Flipkart to invest 2 billion The Times of India 18 August 2018 Retrieved 18 August 2018 Sen Anirban 18 August 2018 Walmart completes deal to buy Flipkart for 16 billion Livemint Retrieved 12 November 2018 Iyengar Rishi Setback for Walmart Flipkart CEO resigns after misconduct investigation CNN Retrieved 21 November 2018 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 Nandy Madhurima 1 July 2021 Flipkart launches Shopsy app for small entrepreneurs mint Retrieved 20 February 2022 Flipkart s Shopsy enters grocery business to take on DealShare Meesho The Economic Times Retrieved 17 February 2022 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 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 Reporter Bs Shopsy surpasses 200 million app downloads on its 2nd anniversary Business Standard Verma Shrutika Dalal Mihir 25 November 2014 Inside Flipkart s complex structure Livemint Retrieved 28 February 2016 Laskar Anirudh 7 December 2020 Walmart readies for 10 bn Flipkart IPO Livemint Retrieved 7 December 2020 Mittal Apoorva Mishra Digbijay Flipkart opens up logistics arm to other ecommerce firms plans NFT play too The Economic Times Retrieved 4 September 2022 Abrar Peerzada 6 April 2022 Flipkart taps healthcare sector with brand new Flipkart Health app www business standard com Retrieved 1 October 2022 Kurup Deepa 22 May 2014 Flipkart buys out Myntra for 300 m The Hindu Retrieved 21 June 2022 Pahwa Akanksha 22 September 2015 Flipkart Buys Back Its Logistics Arm Ekart From WS Retail Inc42 Media Retrieved 21 June 2022 Flipkart buys parent Walmart s Indian wholesale business Reuters 23 July 2020 Retrieved 21 June 2022 Adani Group picks up stake in Cleartrip The Economic Times Retrieved 21 June 2022 Flipkart Health completes acquisition of 75 1 stake in Sastasundar Marketplace IndiaInfoline 13 December 2021 Retrieved 21 June 2022 Acquisitions by Flipkart Livemint 12 July 2022 Flipkart rolls out fresh policies to attract more sellers mint Retrieved 8 October 2022 Flipkart 220 growth in new seller count this year Financialexpress 15 September 2022 Retrieved 24 June 2023 Rai Archana 30 June 2010 Flipkart Country s largest online bookstore The Economic Times Retrieved 19 August 2010 Sengupta Snigdha Is Accel Eyeing a 25X Partial Exit From Flipkart Startupcentral in Retrieved 5 October 2013 Sinha Accel India Invests in Flipkart pluggd in Archived from the original on 19 August 2011 Retrieved 25 August 2011 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 Sudipta Datta Suman Tarafdar 7 February 2010 A Tale of Two Book Fairs The Financial Express Retrieved 19 August 2010 Inlogistics India s first private train cargo operator CNBC TV18 18 March 2010 Retrieved 19 August 2010 Jayadevan PK Flipkart Raises Fresh 200 mn from Existing Investors Tiger global Naspers amp Others NextBigWhat Iyer Byravee 19 July 2010 Cash on delivery Business Standard Retrieved 19 August 2010 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 Bibliofile A Garage Takes Off Outlook 22 March 2010 Archived from the original on 30 October 2010 Retrieved 19 August 2010 Mookerji Nivedita 25 January 2013 Flipkart may launch online marketplace on its website Business Standard Retrieved 23 July 2013 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 Flipkart raises 160 mn in latest funding drive Moneycontrol 9 October 2013 Retrieved 18 February 2015 Flipkart raises 160M more from Morgan Stanley Vulcan Capital Tiger Global others VCCircle Vikas SN 9 October 2013 Flipkart Raises 160M From Dragoneer Investment Morgan Stanley Investment amp Others MediaNama Retrieved 25 October 2013 Dalal Mihir 26 November 2013 Flipkart valued at roughly 9 900 crore says MIH India Livemint Retrieved 27 November 2013 Rajat Agrawal Flipkart raises 210 million in financing round led by DST Global BGR in Retrieved 18 February 2015 Flipkart raises 1 billion from investors Indiasnaps com Retrieved 18 February 2015 Ann Thoppil Dhanya 29 July 2014 India s Flipkart Raises 1 Billion in Fresh Funding The Wall Street Journal Retrieved 18 February 2015 Flipkart now has market cap of 11 billion Business Standard 23 December 2014 Retrieved 18 February 2015 Flipkart files an application to become public raises 700 million dollars The Times of India Retrieved 20 December 2014 Ann Thoppil Dhanya 19 May 2015 Flipkart Valued at 15 Billion After Latest Funding The Wall Street Journal August roundup top 5 Indian startups and their investments Hot Topics Retrieved 2 November 2015 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 Bidkar Chinmay 10 August 2017 SoftBank Vision Fund Invests a Record 2 5 Billion in Flipkart TechStory Retrieved 10 August 2017 Khatri Bhumika 19 September 2018 Ahead Of Festive Season Sale Flipkart Infuses Marketplace Arm With 457 7 Mn Inc42 Media Srivastava Moulishree 5 March 2021 Flipkart deliberates a SPAC merger to go public KrASIA Retrieved 16 August 2022 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 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 Abrar Peerzada 17 January 2022 Flipkart launches Leap Ahead and Leap Innovation Network startup programmes www business standard com Retrieved 25 September 2022 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 Enforcement Directorate to probe Flipkart The Times of India 28 November 2012 Flipkart under ED scanner The Hindu Chennai India 28 November 2012 Flipkart office was raided by Enforcement Directorate on Nov 30th Updated NextBigWhat 11 December 2012 Retrieved 28 February 2016 Srivastava Shruti 20 August 2014 Flipkart case ED finds FEMA violation Rs 1 400 cr fine likely The Indian Express Retrieved 28 February 2016 Jain Varun 24 September 2015 Ecommerce companies like Flipkart Amazon violated FDI Norms Delhi High Court The Economic Times Retrieved 28 February 2016 Mittal Priyanka 26 January 2016 Delhi high court asks RBI to submit latest circular on FDI policy Livemint Retrieved 28 February 2016 Marketplace model of online retailers not under India s FDI policy DIPP International Business Times 6 January 2016 Retrieved 28 February 2016 Action against Snapdeal Amazon com Flipkart for selling medicines without licence The Economic Times Retrieved 28 February 2016 iPhone scam Lucknow Police arrests fraudsters for duping Flipkart here are the details TimesNow 4 October 2022 Retrieved 29 October 2022 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 Ratnam Deepti 29 October 2021 Amazon user gets vim soap instead of iPhone 12 BGR India Retrieved 29 October 2022 Livemint 25 October 2021 Man receives soap coin instead of iPhone 12 Know details mint Retrieved 29 October 2022 Flipkart Launches in house home appliance Personal health care brand Citron The Economic Times 9 September 2014 Flipkart Launches Its Own Home Appliances Personal Healthcare Brand Gadgets360 com 9 September 2014 Retrieved 11 May 2018 Pratap Ketan 10 November 2017 Flipkart Billion Capture Smartphone Launched Price Starts at Rs 10 999 Gadgets360 com Retrieved 11 November 2017 Flipkart SmartBuy Launched Offers Self Branded Chargers and Micro USB Cables at Low Prices Gadgets360 com 9 December 2016 Retrieved 15 December 2017 Bailay Rasul 2018 Flipkart can t use MarQ till February 5 The Economic Times Retrieved 11 May 2018 Nokia Smart TV 55 Flipkart India Private Limited Retrieved 6 March 2020 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 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 Flipkart joins OTT race Launches video streaming service Business Standard 17 October 2019 Retrieved 19 October 2019 Chaudhary Deepti 15 October 2019 Flipkart to offer original video content Livemint Retrieved 19 October 2019 Subramaniam Nikhil 15 October 2019 Flipkart Video Originals Launched Has Flipkart Got The Timing Right Inc42 Retrieved 20 October 2020 Flipkart delivery boy molests maid in Hyderabad Deccan Chronicle 14 December 2014 Retrieved 15 December 2014 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 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 Centre to look into complaints against Flipkart sale Business Line 8 October 2014 Retrieved 18 February 2015 Mookerji Nivedita 9 October 2014 Big Billion Day sale cost Flipkart big govt takes notice Business Standard Retrieved 18 February 2015 Balasubramanian Shyam 14 April 2015 Flipkart Pulls Out of Airtel Deal Amid Backlash Over Net Neutrality NDTV Retrieved 5 February 2019 Singh Dipti 2 August 2015 Logistics staff go on strike Flipkart Myntra in a fix The Indian Express Retrieved 9 July 2018 Khanna Anahita 15 December 2016 Flipkart Delivery Man Murdered For 12 000 Cellphone In Bengaluru HuffPost India Retrieved 9 July 2018 Mitter Sohini A month after delivery boy s murder Flipkart launches new SOS feature Mashable Retrieved 9 July 2018 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 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 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 Time 100 Titans Binny Bansal and Sachin Bansal Time 21 April 2016 Ola Uber score poorly in gig work conditions Flipkart tops the chart Fairwork Ratings Financialexpress 30 December 2021 Retrieved 8 October 2022 Flipkart tops Fairwork index for gig workers Ola and Uber come with zero score The New Indian Express Retrieved 19 October 2022 External links edit nbsp Wikimedia Commons has media related to Flipkart Official website nbsp 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