Flipkart Story: How it Started?
Flipkart, today is one of the leading e-commerce websites in India, as a matter of fact it is the largest amongst its counterparts (other online megastores) in India. It was launched in October 2007and is like a vast online shop, where you can place your order for almost anything. The founders of this company have found Bangalore to be a suitable location for conducting their business, as their business is based at that location, being situated in southern India. They actually started in a 2 bedroom apartment in an area near Koramangala and growing up like no one expected.
Flipkart Growth Story:
As is it generated by the common sense of the common man, Flipkart is like a, ‘we can do it too, you know!’ sort of answer to Amazon, & its monarchy over the e-commerce field. Now, Flipkart is an e-commerce web site located in the World Wide Web which has helped a lot to discriminate the amazon dominance.
The founders of this web site are Sachin Bansal & Binny Bansal & contrary to the very popular belief, the Bansals are not interrelated at all in any manner. Both of them were previous employees in the Amazon, but later in their life resolved to have an e-commerce web site of their own, & this worked well for both of them. Mr. Ramesh Baweja has been named as their finance controller.
Why is Flipkart popular in India?
It is already known to us that Flipkart is by far the largest megastore which is accessible online in India. Having tie ups with the big league industries of the courier service market, delivering customer orders at any place at any time has not been much of a problem with Flipkart. They offer almost everything, from clothes to daily house hold utensils, from movies to music, from games to stationary items, you name it & they will provide it. They do not deal in faulty good or rejected items, contrary to many critics’ belief. Every item is hundred percent genuine & authentic and is of the best available quality that might be available at any other general store or mall. And the best part of the show is that they offer heavy discounts on almost everything, the expenditure on any item boils down to almost its whole sale price, even if it is a small scale retail order.
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Flipkart Story of Acquisitions:
Flipkart has good number of acquisitions compared to its age in the market. Well, it has already bought Myntra, Jabong, eBay India (other popular online shopping websites of India). It has now bought Snapdeal for $950 million. Snapdeal (Delhi based online shopping and coupon website) had raised close to $1.7 billion from Investors.
And now with highly esteemed international investors led by the company named as DST Global, Flipkart has already set its goals on acquiring more & more lucrative business options.
What Analysts say about Flipkart Acquisitions?
Analysts say that Flipkart’s acquisitions are very crucial for the company and the e-commerce future of India. While most analysts think it is a good exit for Jabong, they also say it is a wise decision from Snapdel as the Snapdel has more scope of growing in future.
This dog-eating-dog kind of business to eliminate competitors and trying to be a monarchy in the market may not be good for the e-commerce economy of the country. There is still a lot of scope left for the e-commerce industry growth in India.
What is wrong with Flipkart?
Even the best in the field have some or the other faults with them and even the largest online store in India have not been spared. It too has multiple drawbacks.
- The delivery services offered by Flipkart is limited to within the country borders, Flipkart does not provide international home delivery service. Even in a few remote villages & other rural areas, Flipkart does not provide with delivery service. The delivery service in rural areas is too sluggish, sometimes it takes more than just a few days to deliver simple orders in some rural areas.
- There is a minimum requirement for the amount of order to be made in order to be able to avail free home delivery facility, the floor for which has been set at Rs500.
- There are multiple stories on the social platforms like Facebook, Twitter etc on how the customers got cheated by either Flipkart and it’s delivery partner eKart. Sometimes the customers are charged high amount than what was shown in the website. Sometimes customers had received a wrong product or even an empty box.
Flipkart has to deal with the above mentioned quality issues and improve the customer satisfaction before proceeding too faster on the acquisitions.