Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore and incorporated in Singapore as a limited liability company. The company initially focused on selling books online before expanding into other product categories such as consumer electronics, fashion, daily necessities, groceries, and lifestyle products. The service primarily competes with Amazon’s Indian subsidiary and domestic rival Snapdeal. As of March 2017, They had a 39.5% market share in the Indian e-commerce industry.
Flipkart has a dominant position in the clothing segment, helped by its acquisition of Myntra and described as “on par” with Amazon in the areas of electronics and mobile phones. They also owns PhonePe, a UPI-based mobile payment service. In August 2018, US retail chain Walmart acquired a 77% stake in Flipkart for $16 billion, valuing Flipkart at approximately $20 billion. Company is valued at $37.6 billion by 2022. It plans to go public through a listing in the United States in 2023.
About Company
Company was founded in October 2007 by Sachin Bansal and Binny Bansal, alumnus of IIT, Delhi and former employee of Amazon. The company initially focused on selling books online with nationwide delivery. Flipkart rose to prominence and received 100 orders a day in 2008. In 2010, Flipkart acquired the Bangalore-based social book discovery service WeRead from Lulu.com. In 2011, Flipkart acquired digital distribution company Mime360.com and its digital content library from Bollywood portal Chakpak. Following the acquisition, They launched a DRM-free online music store Flyte in 2012. Due to competition from free streaming sites, Flyte failed and closed in June 2013. With an eye on the market, Indian retailer It has acquired Letsbuy, an online electronics company. in 2012 and Myntra, an online fashion retailer, for US$280 million in May 2014.
Myntra continues to operate alongside Flipkart as an independent subsidiary focusing on market segments. separate school. In February 2014, Company partnered with Motorola Mobility to become India’s exclusive reseller for Moto G smartphones. Motorola has also partnered with Flipkart on the Moto E, a phone primarily aimed at emerging markets like India. High demand for the phone after its midnight launch on May 14 caused the Our website to crash.
Working With Us
According to a November 2014 report, Flipkart operates with a complex business structure consisting of nine companies, some registered in Singapore and some in India. In 2012, the Flipkart co-founders sold WS Retail to a group of investors led by Rajeev Kuchhal. The Indian Flipkart Entities are owned by Flipkart Pvt. Ltd, is registered in Singapore.
The Singapore-registered one owns eight Indian companies, including Flipkart Internet Pvt. Ltd, operator of the e-commerce marketplace Flipkart.com, Flipkart India Pvt. Ltd, Wholesale and Flipkart Logistics Pvt. Ltd, runs Ekart (internal logistics branch that can be used by other e-commerce players). They also launched Flipkart Health (via an app) in 2021, dedicated to delivering medicines and healthcare services through technology. It started with the help of securing a majority stake in Sastasundar Marketplace Limited – a company that already offers online pharmacy services.
Company operates several domestic brands, including Citron (home appliances) and Digiflip (formerly electronics and accessories). In 2017, They launched other home appliances brands, including Billion (smartphone), Smartbuy (electronic accessory, effective alternative to Digiflip) and MarQ (for large home appliances). , although its launch was complicated by a trademark dispute with the existing company, Marc Enterprises). In 2019, Company started selling Nokia-branded TVs. The 55-inch 4K smart TV based on Android TV is the first product released under this license agreement. The 43-inch TV was launched on June 4, 2020.
How to apply for jobs
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