Flipkart raised funds through venture capital funding. As

Flipkart is a well-known electronic commerce company. Flipkart was just a 2-membered embryonic idea which rose to a 33000-membered company. It started in 2007 when Indian e-commerce industry was not still hitting the road , by “Sachin Bansal and Binny Bansal” both of them are alumini of  Indian Institute of Technology, Delhi and have prior experience in Amazon. They left their jobs to create their own company. A risky move in a country where people often prefer to shop in person and buy goods they see and like,  an e-commerce start would always face enormous challenges.Innovating right from the start, Flipkart started with books and popularized the idea of buying books online in India .It has now expanded and offers a wide variety of products such as electronic goods, e-books, stationery supplies, fashion and life style products as well. Flipkart initially raised funds through venture capital funding. As the company grew in stature, more funding arrived. From just being a startup of two the firm has managed to become the largest e-commerce retailer in India. The company stocks nearly 115 million book titles and have  80% share of online book market.Co-Founder of Flipkart and achiever of Entrepreneur of the Year Award 2012-2013 from Economic Times, Mr. Sachin in an interview acknowledged that how he thought founding the company was most ridiculous thing he has ever done and how others around him thought he was insane doing so. He recently reported ,Flipkart daily sales are worth 2.5 crore and the firm ships close to 30000 items per day. And as of April 2017, the company was valued at $11.6 billion. As per the CEO, the firm aims to focus on customer satisfaction and ownership of customer experience that has worked in favor.Flipkart’s biggest draw has probably been the huge discount it offers.Currently major challenged posed to company is the  massive increase in Flipkart’s user base along with maintaining a good user experience .The technicality of the founders and the smooth management of the ever increasing enormous number of customers with their reviews and feedback has made Flipkart to reach such heights.In 2013, Flipkart ranked up $11 million in sales, but the growth rate was staggering. Just seven months into 2014 it reached $100 million in revenue. And in 2015 sales were 10-fold, hitting the $1 billion marks, led by its thriving product line, which accounts for 60% of it’s annual revenue. In the same year Flipkart bought a minority stocks in navigation and startup Makemytrip.India to help improve its delivery using this ………Acquisitions2010: WeRead, a social book discovery tool.2011: Mime360, a digital content platform company.2011: Chakpak.com, a Bollywood news site that offers updates, news, photos and videos. Flipkart acquired the rights to Chakpak’s digital catalogue which includes 40,000 filmographies, 10,000 movies and close to 50,000 ratings. Flipkart has categorically said that it will not be involved with the original site and will not use the brand name.2012: Letsbuy.com, an Indian e-retailer in electronics. Flipkart bought the company for an estimated US$25 million.2526 Letsbuy.com was closed down and all traffic to Letsbuy has been diverted to Flipkart.2014: Acquired Myntra.com in an estimated ?20 billion (US$310 million) deal.2015: Flipkart acquired a mobile marketing start-up Appiterate as to strengthen its mobile platform.2016: Flipkart’s Myntra acquires rival fashion shopping site Jabong for $70 million.2016: In April, Flipkart acquired payment start-up PhonePe.2017: In January, Flipkart funded Parenting Network Tinystep With $2 Million.2017: In April, in exchange for an equity stake in Flipkart, eBay agreed to make a $500 million cash investment in and sell its eBay.in business to Flipkart; however, according to a company statement eBay.in would continue to operate as a separate entity from Flipkart.2017 : In July, Flipkart offered Snapdeal a amount of $700-$800 million, but Snapdeal rejected its deal as they wanted a sum of minimum $1billion cash.In early days Flipkart’s biggest selling point was its lowest price and it brought the first customers of each product category, building it’s base with suppliers and customers and moving on to new one. According to him two parameters that play major role in decision makingCustomer’s acceptance for new categoryProper chain of supply to deliver new categoryWhat they did differently:-1. Cash on delivery- using card for online payment was a non-preferant mode of payment by the people. Flipkart was the first to implement the popular ‘Cash On Delivery’ facility which has added a potential customer to the firm.2. 30 day replacement guarantee- aimed at making customer happy, this feature has boosted the sale of Flipkart to a potent value.3. Product and price comparison- this feature comes handy in electronics where comparison eases the decision for the customer. The reviews can be completely trusted.4. Introduction of their own supply chain management system to deliver orders in a timely fashion which played a determining factor in their success as an e-commerce company.Today as it stands, Sachin Bansal is the Chairman of the company and Binny Bansal is the CEO of the company.Flipkart has also acquired few companies like Myntra.com, LetsBuy.com etc., to mark their hold  in the market. Be it ‘THE BIG BILLION DAY’ amounting to a sale of 650 crore or it’sexclusive tie-ups with companies such as Motorola Mobility and Xiaomi Tech,the company stands for converting every challenge into an opportunity.With the entry of Amazon.com in India, the competition between the companies has seen many takeovers. Flipkart’s journey from a small book e-retailer to India’s largest e-commerce platform inspires generations of start-ups. In a country where stereotypes are common, Flipkart managed to break the norm and change the ecommerce industry in India forever. It aims at becoming a $100 billion company, one of the most difficult task ever but possible. Sachin wants Flipkart to be that company.    Flipkart’s story proves that    If you have a great idea, and you are a doer and not a thinker, SUCCESS is not far off.