Interesting Facts about Flipkart | Walmart Flipkart Acquisition
|Walmart Flipkart Acquisition | Interesting Facts about Flipkart|
Formation of Flipkart was not an accident. Let me tell you, both the founders, Binny Bansal and Sachin Bansal have decided to do something great. Many people think that these both founders are brothers. But actually, they are not brothers they are completely irrelative. They came into contact from their school. They studied at the same school and at the same College. And they both are graduated from IIT Delhi.
After completing studies they both went to the US to work with Amazon. Sounds foolish, but true. They went to the US to work with Flipkart’s biggest competitor in India.
When they went to Amazon, they work probably less than a year. After that, they decided to start something of their own. Then they came back and started Flipkart. That’s how Flipkart was born in India in 2007.
When Flipkart started it was just an online bookstore and the first book that Flipkart sold ever was ironically “Leaving Microsoft to change the world” by John Wood.
When this first book was sold, the packaging was done by Sachin Bansal and the delivery boy was Binny Bansal. This is the most interesting fact about Flipkart. When they started, it was not easy for them. Creating a website is somewhat easy, but getting visitors is very difficult.
What did Sachin and Binny do to get visitors?
On their online bookstore, they started writing reviews themselves. They wrote fake reviews of the book to inspire people to read it. And can you imagine that worked?
The biggest twist in Flipkart’s life was the Big Billion Day sale. In 2015 Flipkart introduced about Big Billion Day. In just first three days of Big Billion Day sale and they sold products worth 1,300 crores. That was the time the Flipkart really started growing up. And in 2016 the big billion days was even bigger, again in three days the sales were more than 1,700 crores.
A very very interesting fact about this Big Billion Day sale is, during those days, Flipkart alone sold more TVs, more shoes than all the retailers put together outside. Everyone else sold less than Flipkart alone. This achievement of Flipkart powered the idea of Walmart Flipkart Acquisition.
Biggest Blunder by Flipkart
The Journey of Flipkart was not without a share of blunders. One of the biggest blunders Flipkart made in 2016 was they decided to shut off the website and to go only mobile. That means if anyone wants to purchase they will have to download the mobile app.
But with the uproar of Indians, the decision changed and Flipkart website promptly came back. The Flipkart’s step to shut off the website and promote Flipkart via mobile app made different records. Due to the major amount of active users, it became the first Indian company to amass 50 million downloads on the Android Play Store.
Binny and Sachin are poles apart
Although their surnames are same, Binny and Sachin are poles apart. Their hobbies are very different. Sachin is a passionate gamer. In the starting days of Flipkart, if anyone in Flipkart lost or won against him, Sachin would offer them dinner. This is the second most interesting fact about Flipkart.
If talking about Binny, Binny loves outdoors, trekking, travelling. One more interesting fact about Binny, before starting Flipkart he was rejected by Google. That’s why Flipkart came into existence and
In 2015, Sachin and Binny made their existence to the Forbes list of richest Indians. Their potential worth was 1.3 billion dollars, that is more than 7,000 crore rupees.
Biggest milestone | Walmart Flipkart Acquisition
In 2018, the biggest milestone was Flipkart acquisition by Walmart. Walmart has got 77% of Flipkart. Walmart wants only one of the founder on its board. That’s why Sachin Bansal left Flipkart and Binny Bansal remain on the board. Sachin had more than 5.5 per cent equity shares, that was close to a six and a half thousand crore rupees.
At last, I thank both Flipkart as well as Benny and Sachin Bansal for doing so much for the Indian startup ecosystem. They bought the Indian startup ecosystem into the limelight.
I am Waiting for your review and comment. Let me know, what is your view about Flipkart. And tell me your views on these interesting facts about Flipkart.