Why Flipkart is an allegory to new India
The author of new book on E-commerce giant Flipkart let’s us go through the ups and downs of reporting on Indian start-ups journey. Flipkart helps us in comprehending the economic and psychology forces.
Flipkart was founded by Sachin Bansal and Binny Bansal in 2007, these two were graduates from prestigious IIT Delhi. Many experts believed that the idea itself of Flipkart would turned out be disaster. The Forbes dedicated a cover page to Flipkart, reading ‘can they deliver?’, until in 2014, when the internet giant was carpet funded by tiger global in tune of 1 billion dollars. It overcame the stink of the piece written on cover page of Forbes.
In may 2018, Walmart agreed to infuse 16 billion dollars into Flipkart to claim 77% stake in India’s largest E-commerce giant. In 2016-17 the giant came close to disaster, and it was about to be overtaken by Amazon. Flipkart went through series of ups and downs, but eventually managed to weather the storm. Unlike other firms difficult times didn’t bothered or tried to shake up the robust structure of the firm laid by the founders in its inception.
Big billion start-ups: The untold Flipkart story, which releases on 06 October this year.