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Flipkart slowly grew in prominence and was receiving 100 orders per day by 2008. [16] Flipkart acquired WeRead in 2010 from Lulu.com that helped it build its foundational strength which was the digital retail of books. This space was otherwise only shared by very limited number of players at that time in the market, such as Landmark and ...
In 2018, Bansal exited Flipkart following the Walmart deal. [6] In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in 2018 was $20.8 billion. [7] In 2018, Bansal held a 5.5 per cent stake in Flipkart, which he sold to Walmart and his net worth then was a little over $1 billion. [7]
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Binny Bansal (born 1982/1983) is an Indian billionaire [2] [3] Internet entrepreneur. [3] As of February 2024, his net worth was estimated at US$1.4 billion. [1] In 2007 he co-founded the e-commerce platform Flipkart.
Following the unsuccessful plan to merge with Flipkart, Snapdeal pursued a new strategy it called Snapdeal 2.0. The initiative saw the sale of non-core businesses, Freecharge and Vulcan Express, to dedicate more resources to Snapdeal's e-commerce marketplace, which is its core business. [13] [14] The strategy yielded strong results.
Shopsy was earlier helmed by Flipkart's SVP – Growth & Monetisation, Prakash Sikaria until July 2022. [14] In the same month, Adarsh Menon, senior vice president, and head of new businesses at Flipkart, took over the leadership at Shopsy. [15] In August 2022, Shopsy had 100 million users. [16]
Myntra continues to operate as a standalone brand under Flipkart's ownership, focusing primarily on "fashion-conscious" consumers. [14] In 2014, Myntra's portfolio included about 1,50,000 products of over 1,000 brands, with a distribution area of around 9,000 pincodes in India. [15]
Flipkart Video is a free video streaming service [10] that is available within the video section of the Flipkart app. [5] [6] Flipkart has tied up with various production houses including Studio Next and Frames and Sikhya Productions to beef up its library of original series in various languages and genres for the Flipkart users. [3] [11]