A small E-Retailer of book became a big E-Commerce hook

FLIPKART SUCCESS STORY

Founder of Flipkart Sachine Bansal and Binny Bansal, who were working for Amazon.com had an idea to start an e-commerce company in India.

Initiating such a thing into a country where people have various taste is indeed a great risk. The challenge was to convince India people to shop in a virtual store without touching any product.

Flipkart started with a book e-retail. It expanded gradually and began offering wide variety of goods. Flipkart was the first to implement cash on delivery facility. In the beginning Flipkart raised funds through venture capital funding.

In the financial year 2008-09 Flipkart had made sale of 40 Million INR. This increased to 200 Million INR the following year. Flipkart's target is One Billion by 2015. 

One of the big problem in online shopping was online payment gateways. Not many people preferred this way so Flipkart introduced cash on delivery.

The second problem was supply chain system. Delivering goods on time is one of the most important factor that determines the success of an e-commerce. Flipkart fixed the issue by launching their own supply chain management system to deliver orders in a timely fashion.

Flipkart also acquired few companies  like myntra.com, letsbuy.com etc to better their presence in the market with entry of amazon.com in India.

Now the competition between the companies has seen many takeovers.