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Management Team
Sachin spent his early years in Chandigarh. He graduated from IIT-Delhi with a
degree in Computer Engineering. In 2006 he joined Amazon.com in India which
he later left to set-up Flipkart.
As CEO, Sachin oversees all the customer facing activities of the company ranging
from technology to marketing. He is also in charge of Flipkart's corporate
divisions which include the finance and legal departments.
Sachin Bansal
CEO and Cofounder
An avid gaming enthusiast, Sachin likes to spend most of his free time with his
family.
Binny Bansal
COO and Cofounder
Management Team
Mekin completed his B.E. from PESIT Bangalore in 2002. He started his career
with Yahoo! and then went on to join Ugenie where he created weRead, a
successful social network around books.
At Flipkart, Mekin is responsible for overseeing the companys technological
operations. These include innovation and application of technology in areas
starting from supply chain to website management.
Mekin Maheswari
President,
Technology
Mekin is an avid sports fan and was actively involved in badminton, table tennis
and cricket during his school and college days.
Sujeet completed his engineering from IIT Delhi. He worked in the KPO industry
and orchestrated several freelance projects before joining Flipkart in 2008.
At Flipkart he is responsible for overseeing supply-chain, warehousing and
logistics. He is also in charge of business development for all categories.
Sujeet loves playing bridge and poker.
Sujeet Kumar
President,
Operations
Company History
Flipkart was established in 2007 by Sachin Bansal and Binny Bansal, both alumni
of the Indian Institute of Technology Delhi.
They worked for Amazon.com before quitting and founding their own company.
Initially they used word of mouth marketing to popularize their company.
A few months later, the company sold its first book on flipkart.com - John Woods'
Leaving Microsoft to Change the World.
Today, as per Alexa traffic rankings, Flipkart is among the top 30 Indian web sites
and has been credited with being India's largest online bookseller with over 11
million titles on offer.
Flipkart broke even in March 2010 and claims to have had at least 100% growth
every quarter since its founding.
The store started with selling books and in 2010 branched out to selling CDs,
DVDs, mobile phones & accessories, cameras, computers, computer accessories
and peripherals, pens & office supplies, other electronic items such as home
appliances, kitchen appliances, personal care gadgets, health care products etc.
As of today, Flipkart employs over 4672 people.
Funding
Initially funded by the Bansals themselves with 4 Lakhs(INR).
Flipkart has since then raised two rounds of funding from venture
capital funds Accel India (in 2009) and Tiger Global Management (up to
the tune of US$10 million) (in 2010).
Private equity firms Carlyle and General Atlantic are in talks to jointly
invest about $150 million to $200 million in Flipkart, according to
sources.
Acquisitions
2010: WEREAD, a social book discovery tool.The stated goal was to give
Flipkart a social recommendation platform for buyers to make informed
decisions based on recommendations from people within their social
network.
2011: Mime360, a digital content platform company.
2011: Chakpak.com is a Bollywood news site that offers updates, news,
photos and videos. Flipkart acquired the rights to Chakpaks digital
catalogue which includes 40,000 filmographies, 10,000 movies and close
to 50,000 ratings. Flipkart has categorically said that it will not be
involved with the original site and will not use the brand name.
2012: Letsbuy.com is India's second largest e-retailer in electronics.
Flipkart has bought the company for an estimated US$ 25 million.
Screenshot
Research Questions
How did Flipkart get on to the top of Indias e-shopping market in just 4
years?
What were the strategies implemented by Flipkart to create online
business in India?
There are millions of retail websites and not many have achieved even a
fraction of the attention that Flipkart has. What is it that makes Flipkart
standout?
What does Flipkart have that makes its model so Robust?
What is there strategy behind acquisition of lets buy.
What is there future road map?
What are the major threats for Flipkart?
Order Lifecycle
Attract users to the site
Family, Friends, SEO, SEM,WoM, Brand Building
Provide selection
Make it easy to Find & Discover products
Provide details to evaluate a product
Description, Specifications, UGC.
Price well
Have to be competitive to the most obvious options
Confirm payment
Marketing Strategy
Flipkart has been mostly marketed by word of mouth advertising.
Customer satisfaction has been their best marketing medium.
Flipkart very wisely used SEO (Search Engine Optimization) and
Google Ad-words as the marketing tools to have a far reach in the online
world.
Flipkart.com official Face book page has close to 9 lac 'likes'. Flipkart
recently launched a series of 3 ads with the tag line - "No Kidding No
worries"
Kids were used to create the adverts to send out the message - if a kid
can do it, you can also do it.
All in all to create a great customer experience.
Advertisements By Flipkart
Conclusion
Flipkart, the first billion dollar Internet company from India(going by 2015
estimates )is by far the leading online store in the nation.
Now that Amazon is reportedly entering India in early 2012, this news
becomes even more significant, considering that Amazon has previously,
and unsuccessfully, tried acquiring the company, with Flipkart demanding a
very high buyout price.
With online retail industry in India pegged to reach $1.5 billion (2015),
sources suggest that e-commerce is just hotting up in India and we may
soon seen many more Internet companies achieving similar success
Thank You