India’s eCom leader Flipkart has hit $1 Bn in Sales. It’s a
huge milestone in the history for the 7 year old company. Global ecommerce
giant AMAZON has reached this number post Seven years after its launch whereas
Flipkart has achieved this milestone a few months faster.
 |
| Source: Google |
Sachin and Binny jointly said – that they are really proud
and excited to announce that Flipkart hit a run rate of $1 Bn GMV one year
befor target. In March 2011 Flipkart
announced that by 2015 they wanted to hit $1bn in GMV. At that point in time
its run rate was $10 million. This means that Flipkart have grown 100X
in the last three years.
Flipkart has been
funded by Naspers, Dragoneer Investment Group, Morgan Stanley Investment
Management, Tiger Global and Accel Partners.
The company started
its operation as Book Seller moved across categories. It started out as
Inventory retailer, moved to Marketplace Model in 2012. Flipkart ships out over
1 Lakh orders a day on an average, now has about 1000 merchants on their
platforms. Company has over 10,000 employees, has also grown beyond
ecommerce. It recently came out with its own Payment Solution, PAYZIPPY. This
service is used by other internet companies like MakeMyTrip, Zansaar and Yepme.
The company is also opening up its logistics arm, eKart, which supplies to 150
cities, to other online retailers.
The company is also increasingly focusing on mobile
commerce, as over 20% of its sales already comes from handheld device.
Source:
No comments:
Post a Comment