You all know about online shopping. A few years before today, we have to go to the market to buy any goods, but now our favorite goods reach our house at a lower price. It is the result of online shopping that we are saved from the scams of shopkeepers and now thousands of options are left in front of us, but not a few. Let’s know about online shopping website Flipkart.
At present, there are thousands of websites on the Internet through which you can shop through the Internet, that is, you can do online shopping. One of these websites is also Flipkart which, despite the rule of Amazon in India, started its coin in the market and today it is counted among the largest and Secure E-Commerce companies in India. Today we will tell you in this post ‘What is Flipkart?’ And ‘How does it work’, along with this we will also give you ‘Full information about Flipkart’.
In simple words, if Flipkart is explained, Flipkart is an Indian e-commerce company through which you can buy goods related to Electronics, Lifestyle, Fashion etc. Flipkart is one of the largest e-commerce companies in India, on which users have full faith.
Flipkart is basically a Bangalore company ie its Main Headquarter is based in Bangalore and is mostly operated from Bangalore. Flipkart has only been open for 11 years and today it is one of the largest e-commerce companies in India. Flipkart has challenged companies like Amazon and Snapdeal in India and has covered a lot of online shopping market.
Flipkart is an e-commerce website or company that is available in English language. It was formed in the year 2007 by Sachin Bansal and Binny Bansal. It is currently offering its services only in India. The current owner of Flipkart is Walmart. The CEO of Flipkart is currently Kalyan Krishnamurthy. It is primarily an online shopping service.
According to a report in 2016, Flipkart employs more than 30,000 people. Myntra, PhonePe, Jabong, Ekart, Jeeves and 2GUD are all Flipkart products that Flipkart has purchased. Flipkart is counted in a commercial website whose registration is mandatory to use. Talking about its earnings, Flipkart earned around 199 billion rupees in the year 2017.
Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal. Both of them were alumni of the Indian Institute of Technology Delhi and worked at Amazon before setting up their company. Flipkart initially focused only on selling Online Books with Shopping in India.
Like all companies, Flipkart slowly moved forward and by 2008 it started receiving 100 Orders daily. After a considerable progress, Flipkart purchased a Bangalore-based Social Book Discovery service weRead from Lulu.com.
In late 2011, Flipkart made several acquisitions related to Digital Distribution, including Mime360.com and the Bollywood portal Chakpak’s Digital Content Library. In February 2012, the company unveiled its DRM-Free Online Music Store ‘Flyte’ but it could not succeed due to strong competition in Free Streaming Sites and was discontinued in June 2013.
In 2012, Flipkart bought Myntra for Rs 20 billion, an online fashion store. After this Flipkart started to grow business and partnered with Motorola in 2014 and the Moto G smartphone was sold on Flipkart. After this, Xiomi Mi 3 was also sold in India through Flipkart in 2014, with 10,000 devices sold in only 5 seconds. After this, many more phones were made available on Flipkart, with the help of which Flipkart became very popular.
In 2014, at the time of Diwali, Flipkart started the ‘Big Billion Days’, which led to the sale of 100 million dollars in just 10 hours. After this, its app also came in March 2015 and Flipkart made more progress from it. Then in 2016 Flipkart bought Jabong.com from Rocket Internet in 2016 for 70 million dollars. In April 2017, Ebay sold its Indian branch Ebay.in to Flipkart and invested $ 500 million in it.
In July of 2017, Flipkart offered its competitor Snapdeal to buy it for 700 to 800 Million Dollars, but Snapdeal turned down the offer because it needed at least 1 billion dollars.
On May 4, 2018, the US-based giant Walmart bought most of Flipkart’s shares for 15 billion Dollars. On May 9, Walmart reported that it had bought 77% of Flipkart’s shares at 16 billion Dollars. After this, Ebay removed itself from Flipkart by giving 1.1 billion dollars and started a new business of its own in India. Softbank Group then also sold 20% of its share of Flipkart to Walmart without any disclosure, and currently Walmart owns 81.3% of Flipkart’s total and is owned by it.
Interestingly, in the beginning this company was started with only 4 lakhs and now this company has become Arbo rupees.
The working process of Flipkart is also similar to other e-commerce companies. Flipkart first deals with the companies that are in the market and makes their goods available at their stores and sells it with some commission and makes it available to us.
Many companies go ahead to Flipkart and then sell their goods through which they pay a commission to Flipkart. This item becomes available on Flipkart and this is what we buy. Flipkart’s job is to deliver the goods to us just in time, ie it is exactly like a shopkeeper. He first fetches the goods from somewhere and then reaches it to us in which he also gets commission and similarly Flipkart also earns money.
How to use Flipkart? How to Use Flipkart?
If you want to buy goods from Flipkart, then you just have to follow the steps given below.
- First of all, you have to download Flipkart’s App from Play Store or App Store or open it through Web.
- After this registration has to be done and all the information has to be filled correctly while filling the form.
- Now select the item you want to buy. After that, buy it and fill your address etc. and then select your payment option. Just wait for your luggage to come. It is not necessary that your goods are available on Flipkart only because many times you will not get the goods on it, such as Smartphone etc., then you will get it somewhere else. Because not every company chooses Flipkart for its goods only. So guys, hope you liked our post ‘What is Flipkart and how does it work?’ For other such posts keep following us and do not forget to share this post on social media. Thanks a lot