A very popular e-commerce company named as Flipkart was founded in 2007, by Sachin and Binny Bansal. Today, it operates in India only and its headquartered is in Bangalore, Karnataka. This company has created a landmark in the history of leading E-Commerce store by raising its funds to $1 billion. According to Flipkart, this has been the largest venture investment that is to be received by an Indian internet-based business.
In total 8 companies took part in funding that includes Tiger Global, Naspers, and DST Global and Iconic Capital. These all four companies are also responsible for $210 million funding that was happened before just month ago before this achievement.
In place of big push in the field of online store maker, it is expected that Flipkart has present 1% of the country overall retail market of $500 billion. Now a day the growth of Flipkart is talk of the town and it is growing day by day.
Flipkart is not a company based on unique engineering model like Google and not the like Facebook that is based on conceptualized platform. It is simply a well-managed customer focused cost-competitive online trading website. The main concept behind this business is to buys products from manufacturers at a very low price and sells it to concerned buyers at negligible profits margins, no profits margin or sometimes, at a loss. After 6 years of hard labor, Flipkart came in market scenario and become 10th largest website in India.
Flipkart has actually done some recent expansion in its adaptation to some changes in policy terms that will aimed to help the challenges of the market. Others competitors are also there to beat its name and fame like Amazon that sell its products directly to customers.
The Co-founder of Flipkart Sachin Bansal and Binny Bansal apply some policies regarding expansion of its business that is capital investment to make investment for long term mainly in Mobile technology. Today India has almost 243 million internet users and it is estimated that it will raise to half-a-billion by the end of 2020.Then after Flipkart estimates that internet will actually improve the quality of life for Indian users and obviously e-commerce will also play huge role in this regard.
The main business policy of Flipkart in this regard is to continue make online shopping simple and easy accessible through technology usage.