Flipkart achieves new milestone – crosses 100 million users mark
It’s definitely a time to rejoice for the big giant of eCommerce industry – Flipkart. Want to know why? Recently, Flipkart crossed the 100-million registered users mark and has thus become the first eCommerce company in the country to reach this peak. Over the last years, the company has doubled its user base and has added remarkable 25 million users in the past six months alone.
Conceptualized and started by Sachin Bansal and Binny Bansal in 2007, the company is registered in Singapore, but boasts of its headquarters in Bangalore or Bengaluru. Both the talented duo were an alumni of the Indian Institute of Technology Delhi and have worked with the likes of Amazon.com. Today, the count of Flipkart’s employees has gone more than 33,000 people and has given abundant payment choices to its beloved users right from credit card, debit card, cash on delivery to e-gifting, net banking and also card swipe on delivery.
In its journey to success, Flipkart has also faced failures like ‘billion sale’ that was held in 2014 but that never discouraged them. In fact, Flipkart is now going to conduct the shopping festival – ‘Big Billion Day’, again from October 2 to October 6 and are confident that it will reach out to more audiences. Speaking to First Post, about the achievement, Co-founder and CEO Binny Bansal said, “This is a small step in our efforts to build a platform that provides quality products, affordable and accessible to millions of Indians shopping online. This milestone has further energized us to ramp-up our efforts and build a world-class shopping destination.”
One of the most valued startups in the country, Flipkart has investors like Accel Partners, Tiger Global, Morgan Stanley, T Rowe, etc. Apart from this, the company has also acquired companies like Myntra, PhonePe, LetsBuy, Mime360, Chakpak.com, etc. It doesn’t end here as Flipkart has also invested in various newbies like NestAway, Cube26 and Black Buck.
India is witnessing a rapid growth in the eCommerce solutions company and credit goes to the abundant usage of mobile phones. It’s not just about usage but also about the buying and selling of mobile phones which is changing the face of eCommerce. In coming years, India is surely going to be tagged as the rising eCommerce markets. It doesn’t end here, as it is expected to grow slowly and steadily in the coming years. Already, international retailers are making a mark in the market by carrying out investments. Hence, there is going to be no dearth of opportunities in coming years as foreign investors will start investing in Indian eCommerce companies.