Flipkart
 Flipkart Logo | |
| Company type | Private |
|---|---|
| Industry | E-commerce |
| Founded | October 2007 |
| Founder | |
| Headquarters | Bangalore, Karnataka, India, Singapore (registered) |
Area served | India |
Key people |
|
| Products |
|
| Services | Online shopping |
| Revenue | ₹70,844 crore (US$8.49 billion) (FY24) |
Number of employees | 7,129 |
| Parent | Walmart (77%) |
| Subsidiaries |
|
| Website | www |
Flipkart is an Indian e-commerce company, headquartered in Bangalore, Karnataka, and incorporated in Singapore as a private limited company. Founded in October 2007 by Sachin Bansal and Binny Bansal, both alumni of IIT Delhi and former Amazon employees, Flipkart initially focused on online book sales before expanding into categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products. It competes primarily with Amazon India and Snapdeal. As of FY23, Flipkart held a 48% market share in the Indian e-commerce industry, with a dominant position in apparel, bolstered by its acquisition of Myntra, and a strong presence in electronics and mobile phones.[1]
History
Flipkart was launched from a two-bedroom apartment in Koramangala, Bangalore, with an initial capital of ₹400,000 (US$4,800). The company introduced innovative features like cash-on-delivery in 2010, which was critical in a market where credit card usage was low.[2] Flipkart expanded rapidly through acquisitions, including Myntra (2014), Jabong.com (2016), and a stake in MapmyIndia (2015). In 2018, Walmart acquired a 77% stake in Flipkart for US$16 billion, marking the largest e-commerce acquisition globally at the time.[3] In 2022, Flipkart separated from PhonePe, a payments platform it had acquired in 2015.[4]
Business Model
Flipkart operates as an online marketplace, connecting buyers and sellers across over 70 product categories. It offers services like cash-on-delivery, online payments, and easy monthly installments (EMI). The company has invested in logistics through Ekart and introduced Flipkart Wholesale for B2B commerce in fashion and groceries.[5] Flipkart’s mobile app, one of the first Indian apps to cross 50 million users in 2016, drives significant traffic.[6]
Funding
Flipkart has raised over US$12.1 billion across 22 funding rounds from 130 investors.[7] Below is a comprehensive table of its funding rounds:
| Year | Date | Amount (US$) | Investors | Valuation (US$) |
|---|---|---|---|---|
| 2008 | - | Undisclosed | Ashish Gupta (Junglee, Helion Venture Partners) | - |
| 2009 | - | 1 million | Accel India | <50 million |
| 2010 | - | 10 million | Tiger Global Management | - |
| 2011 | June | 20 million | Tiger Global Management | 1 billion |
| 2012 | August 24 | 150 million | MIH (Naspers), ICONIQ Capital | 1 billion |
| 2013 | July 10 | 200 million | Tiger Global, Naspers, Accel Partners, ICONIQ Capital | 1.6 billion |
| 2013 | October | 160 million | Morgan Stanley, Sofina, Vulcan Capital, Dragoneer Investment Group | 1.6 billion |
| 2014 | May | 210 million | DST Global | 2.6 billion |
| 2014 | July 29 | 1 billion | Tiger Global, Accel Partners, Morgan Stanley Investment Management, GIC | 7 billion |
| 2014 | December | 700 million | Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price, Qatar Investment Authority, DST Global, GIC, ICONIQ Capital, Tiger Global | 11 billion |
| 2015 | May | 550 million | Existing investors | 15 billion |
| 2015 | August | 700 million | Existing investors | 15.5 billion |
| 2016 | - | Undisclosed | Markdown by mutual funds (Morgan Stanley, Vanguard, T. Rowe Price, Fidelity) | 11 billion |
| 2017 | April | 1.4 billion | eBay, Microsoft, Tencent | - |
| 2017 | August 10 | 2.5 billion | SoftBank Vision Fund | - |
| 2018 | September 19 | 4.5 billion (₹3,463 crore) | Flipkart Marketplace Singapore | - |
| 2020 | July | 1.2 billion | Walmart-led investor group | 24.9 billion |
| 2023 | December 22 | 600 million | Walmart | 34–37 billion |
| 2024 | May 25 | 350 million | 36 billion |
Legal Entity Details
Flipkart operates with a complex corporate structure, primarily through Flipkart Private Limited, incorporated in Singapore as a private limited company. Its Indian operations are managed by several subsidiaries. Below is a table summarizing key legal entity details for Flipkart’s primary Indian entity, Flipkart India Private Limited:[8][9]
| Attribute | Details |
|---|---|
| Company Name | Flipkart India Private Limited |
| Incorporation Date | September 19, 2011 |
| Registered Location | Bangalore, Karnataka, India |
| Corporate Identification Number (CIN) | U51909KA2011PTC060489 |
| GST Number | 36AABCF8078M1Z2 |
| Authorized Share Capital | ₹12,000,000 |
| Paid-up Capital | ₹9,789,111 |
| Number of Employees | 7,129 |
| Registered Address | Buildings Alyssa, Begonia & Clover, Embassy Tech Village, Outer Ring Road, Devarabeesanahalli Village, Bengaluru, Karnataka, India – 560103 |
| Directors | Prabhu Balasrinivasan, Yogesh Gupta, Rohit Musaddi |
| Parent Entity | Flipkart Pvt. Ltd. (Singapore) |
| Subsidiaries | Flipkart Internet Pvt. Ltd. (e-commerce marketplace), Flipkart Logistics Pvt. (Ekart) |
In 2014, Flipkart filed with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) to transition to a public company following a US$700 million funding round.[10]
Acquisitions and Investments
Flipkart has made several strategic acquisitions:
- Appiterate (2015) – A Delhi-based mobile marketing automation firm.
- MapmyIndia (2015) – Acquired a 34% stake for US$260 million.
- Jabong.com (2016) – Purchased from Rocket Internet for US$70 million.
- TinyStep (2017) – Invested US$2 million in the parenting information startup.[11]
Market Position and Competitors
Flipkart holds a 48% market share in India’s e-commerce sector (FY23), competing with Amazon India, Snapdeal, Nykaa, and Meesho. Its apparel segment is strengthened by Myntra and Jabong.com, while it remains competitive in electronics.[12]
Challenges
Flipkart has faced challenges, including significant financial losses (e.g., US$660 million in FY17) and regulatory scrutiny. In 2013, it faced potential fines for FEMA violations, which were later dropped.[13] In 2025, BIS raided Flipkart warehouses, seizing substandard goods.[14]
Future Plans
Flipkart is venturing into quick commerce to meet demand for rapid delivery and plans to transition its logistics to electric vehicles by 2030.[15] The company is also preparing for a potential public listing, possibly through a SPAC merger.[16]
References
- ↑ "Flipkart maintains lead over Amazon with 48% share in festive sales: Report". Business Standard. Business Standard Private Ltd. 13 October 2023. Retrieved 18 April 2025.
- ↑ "The Flipkart Story in India: From the Start to Walmart". ResearchGate. ResearchGate GmbH. 29 May 2023. Retrieved 18 April 2025.
- ↑ "Flipkart Success Story – From a Bookseller to the Biggest Online Retailer in India". StartupTalky. StartupTalky. 4 July 2024. Retrieved 18 April 2025.
- ↑ "Flipkart, PhonePe complete separation; Walmart to infuse $700 mn into e-commerce firm". The Hindu BusinessLine. The Hindu Group. 23 December 2022. Retrieved 18 April 2025.
- ↑ "Flipkart Internet Pvt Ltd". India Brand Equity Foundation. Ministry of Commerce & Industry, Government of India. 23 October 2024. Retrieved 18 April 2025.
- ↑ "About Flipkart – History, Founder, Business Model, Revenue". Hitbullseye. Hitbullseye. 10 September 2024. Retrieved 18 April 2025.
- ↑ "Flipkart - 2025 Company Profile, Funding & Competitors". Tracxn. Tracxn Technologies Limited. 15 March 2025. Retrieved 18 April 2025.
- ↑ "Flipkart India Private Limited - Legal Entities". Tracxn. Tracxn Technologies Limited. 15 March 2025. Retrieved 18 April 2025.
- ↑ "Flipkart raises $350 million from Google, valuation hits $36 billion". The Economic Times. Bennett, Coleman & Co. Ltd. 15 May 2024. Retrieved 18 April 2025.
- ↑ "Flipkart files application to become public, raises $700 million". The Economic Times. Bennett, Coleman & Co. Ltd. 21 December 2014. Retrieved 18 April 2025.
- ↑ "Flipkart invests $2M in parenting social network Tinystep". TechCrunch. AOL Inc. 10 January 2017. Retrieved 18 April 2025.
- ↑ "Flipkart maintains lead over Amazon with 48% share in festive sales: Report". Business Standard. Business Standard Private Ltd. 13 October 2023. Retrieved 18 April 2025.
- ↑ "The Flipkart Story in India: From the Start to Walmart". ResearchGate. ResearchGate GmbH. 29 May 2023. Retrieved 18 April 2025.
- ↑ "BIS raids Amazon, Flipkart warehouses in Delhi; seizes over 4,000 substandard goods". Deccan Herald. The Printers (Mysore) Private Ltd. 25 February 2025. Retrieved 18 April 2025.
- ↑ "Flipkart Internet Pvt Ltd". India Brand Equity Foundation. Ministry of Commerce & Industry, Government of India. 23 October 2024. Retrieved 18 April 2025.
- ↑ "Flipkart raises $350 million from Google, valuation hits $36 billion". The Economic Times. Bennett, Coleman & Co. Ltd. 15 May 2024. Retrieved 18 April 2025.
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