Timeline History of Flipkart

Flipkart is one of the largest e-commerce companies in India. Timeline History of Flipkart, was founded in 2007 by Sachin Bansal and Binny Bansal. It revolutionized online shopping in India and shaped the e-commerce landscape. Initially, it was a small online bookstore. Over time, it grew into a multinational giant. Today, it offers products like electronics, fashion, and groceries. This timeline highlights the key events in Flipkart’s history. It traces its journey from a small startup to a major global e-commerce player.

Timeline History of Flipkart

1. 2007: The Birth of Flipkart

   Founders: Sachin Bansal and Binny Bansal, both former employees of Amazon, co-founded Flipkart in 2007 with a vision to make online shopping easy for Indian consumers. They initially started by selling books online, recognizing that the Indian book market was largely untapped in the online space.

   Launch: Flipkart.com was launched in October 2007. The website was designed to cater specifically to the Indian market, and its founders believed that the internet, despite being in its nascent stages in India, held great potential for e-commerce. Flipkart started as a small venture, with Sachin and Binny doing everything from managing logistics to customer service.

2. 2008: Early Challenges and Progress

   Bootstrapped Business: In the beginning, Flipkart operated without any external funding. The founders bootstrapped the company and focused on building a strong logistical foundation to deliver books across India. Flipkart’s decision to provide free shipping and cash-on-delivery (COD) options was revolutionary and helped it gain a loyal customer base.

   Expansion of Product Line: Although Flipkart started as an online bookstore, it soon realized the potential of expanding its offerings. By the end of 2008, Flipkart expanded to selling electronic goods like mobile phones and laptops. This diversification allowed it to grow its customer base and compete in more product categories.

3. 2010: Attracting Funding and Accelerating Growth

   First Round of Funding: In 2010, Flipkart raised its first significant round of funding from Accel Partners, an American venture capital firm. The company raised $1 million in this round. This financial boost allowed Flipkart to accelerate its growth and enhance its logistics infrastructure to reach customers more effectively.

   Hiring and Team Expansion: Flipkart expanded its team considerably. The company hired more staff for logistics, technology development, and customer service. This allowed Flipkart to offer more products, handle larger volumes of orders, and improve customer experience.Flipkart Mobile App Launch: By 2010, mobile commerce had begun to grow in India, and Flipkart launched its first mobile app, capitalizing on the rapid adoption of smartphones.

4. 2011-2012: Major Milestones and Funding Success

   Expansion to Other Categories: In 2011, Flipkart introduced new product categories like electronics, home appliances, and personal care. This marked its transition from being an online bookstore to a fully-fledged e-commerce platform.

   Second Round of Funding: Flipkart raised another $10 million from Accel Partners, Benchmark Capital, and Tiger Global. The funding helped the company improve its technology and expand its inventory. Flipkart also made a significant investment in its supply chain infrastructure, including setting up warehouses across India.

   Myntra Acquisition (2012): Flipkart made its first major acquisition in 2012 by purchasing Myntra, an online fashion retailer. This acquisition allowed Flipkart to tap into the rapidly growing online fashion market in India. Myntra’s strong presence in fashion and Flipkart’s expertise in technology and logistics created a powerful combination in the online retail industry.

5. 2013-2014: Aggressive Expansion and the Introduction of New Services

   Flipkart Big Billion Day (2014): Flipkart introduced its first “Big Billion Day” sale in 2014, offering huge discounts across a variety of products. This event was a massive success and helped Flipkart solidify its position as the leading e-commerce platform in India. However, the sale was not without controversy due to technical glitches, but it ultimately helped Flipkart increase its customer base and brand visibility.

   Funding Boost: In 2013, Timeline History of Flipkart has raised $200 million from investors like Tiger Global, Naspers, and Accel Partners. The company continued to focus on expanding its product offerings and services, including launching Flipkart’s own payment system, “PayZippy,” which aimed to simplify online transactions.

   Acquisition of Fynd (2014): Flipkart made its second major acquisition by purchasing Fynd, an e-commerce platform specializing in retail store inventories. This move allowed Flipkart to provide real-time product availability from offline stores, further improving its customer service.

6. 2015-2016: Dominating the Indian E-commerce Landscape

   Flipkart’s Market Leadership: By 2015, Flipkart had become the largest e-commerce platform in India in terms of traffic, sales, and market share. It dominated various sectors, including electronics, fashion, and lifestyle products.

   Introduction of Flipkart First (2015): Flipkart introduced a premium membership service called Flipkart First, offering benefits like free delivery, faster delivery, and exclusive access to sales. This move was designed to encourage more customers to shop on the platform and build brand loyalty.

   Acquisition of Jabong (2016): In 2016, Flipkart acquired Jabong, a leading online fashion retailer. This acquisition was aimed at strengthening its position in the fashion e-commerce market, especially in the highly competitive apparel category.

   Partnership with eBay (2017): Flipkart entered into a strategic partnership with eBay, a global e-commerce giant, in 2017. As part of the deal, eBay sold its India operations to Flipkart, and Flipkart also acquired eBay’s stake in the company.

7. 2017-2018: Walmart’s Investment and Competition with Amazon

   Walmart’s Investment (2018): In a groundbreaking deal in 2018, Walmart acquired a 77% stake in Flipkart for approximately $16 billion. This was one of the largest e-commerce deals in the world at the time. The partnership gave Flipkart financial backing and global expertise to compete with Amazon, its biggest rival in India. It allowed Walmart to enter the fast-growing Indian retail market. Flipkart gained from increased investment in technology, logistics, and infrastructure.

   Ongoing Competition with Amazon: Despite the influx of capital, Flipkart continued to face intense competition from Amazon, which had been aggressively expanding its presence in India since 2013. Amazon India and Flipkart began offering similar services and discounts to attract consumers, leading to a fierce battle for market share.

8. 2019-2020: Continued Growth and New Ventures

   Flipkart’s Focus on Tier-2 and Tier-3 Cities: With Walmart’s backing, Flipkart focused on expanding its reach to smaller cities and towns in India, which had previously been underserved by e-commerce. Flipkart focused on improving its logistics network to serve customers in these areas.

   Introduction of Flipkart Health+ (2020): Flipkart ventured into the healthcare space in 2020 with the launch of Flipkart Health+, a platform for selling medicines and health-related products. The launch of this service helped Flipkart tap into the growing demand for healthcare e-commerce, especially during the COVID-19 pandemic.

   Pandemic Impact: During the COVID-19 pandemic, Flipkart experienced a surge in demand for online shopping, especially for essential goods like groceries, medicines, and electronics. Flipkart quickly adapted by expanding its product offerings and focusing on safety and hygiene standards for delivery personnel.

9. 2021-Present: Flipkart’s Future Outlook

   IPO and Future Growth: As of 2021, Flipkart began preparing for a potential initial public offering (IPO). Flipkart’s status as the leading e-commerce company in India, combined with its backing from Walmart, made it one of the most valuable startups in India. The company’s plans to expand into new verticals, including digital services and rural areas, hold the potential for future growth.

   Acquisitions and Expansions: Timeline History of Flipkart continues to expand into new sectors and strengthen its market position through strategic acquisitions and partnerships. Its focus remains on increasing customer satisfaction, improving technology, and competing effectively against rivals like Amazon India.