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TRANSCRIPT
Varun Athreya (1RV09IT065)Department of IT, RVCE
Intro
Founders
Flipkart Story
Evolution of Logos
Funding
Acquisitions
Why flipkart?
Order Lifecycle
Conclusion and References
Flipkart went live in 2007 with the objective of making books easily available to anyone who had internet access. They’re present across various categories including movies, music, games, mobiles, cameras, computers, healthcare and personal products, home appliances and electronics – and still counting!
With over 11.5 million book titles, 11 different categories, more than 2 million registered users and sale of 30000 items a day, they’re one of the leading e-commerce players in the country.
Their success is largely due to their obsession with providing customers a memorable online shopping experience. Be it Cash on Delivery, a 30-day replacement policy, EMI options, free shipping -and of course the great prices that they offer. Then there's dedicated Flipkart delivery team that works round the clock to personally make sure packages reach on time. For now they're present in 27 lucky cities, but don't worry, plans are underway to spread to many others.
Sachin Bansal and Binny Bansal
Sachin Bansal CEO and Co-founder Sachin spent his early years in Chandigarh. He graduated from
IIT-Delhi with a degree in Computer Engineering. In 2006 he joined Amazon.com in India which he later left to set-up Flipkart.
As CEO, Sachin oversees all the customer facing activities of the company ranging from technology to marketing. He is also in charge of Flipkart's corporate divisions which include the finance and legal departments.
An avid gaming enthusiast, Sachin likes to spend most of his free time with his family
Binny Bansal
COO and Co-founder
Born and raised in Chandigarh, Binny went on to get a degree
in Computer Engineering from IIT Delhi. He had a brief stint at
Amazon before taking the entrepreneurial plunge with
Flipkart.
At Flipkart, Binny oversees all operational activities that come
into play from the time the customer places an order till the
time of delivery. This spans across divisions like warehousing,
logistics and customer support.
A big fan of Salman Rushdie as well as Stieg Larsson's
'Millennium' series, Binny is also passionate about soccer and
NBA. An active sportsman, he used to captain his school
basketball and soccer teams.
Flipkart,was established by Sachin Bansal and Binny Bansalboth are alumni of Indian Institute of Technology Delhi and worked for Amazon.com before quitting and founding their own company.
Initially they used word of mouth to popularise their company. Within two years through word of mouth of their services, Flipkart became one of the top 100 Indian sites and was credited for being India's largest online bookseller with over 10 million titles on offer.
Flipkart broke even in March 2010 and claims to have had at least 100% growth every quarter since its founding.
Flipkart employs over 3000 people.
Also it had experienced 2 million unit sales and 4 million unique vistors per month with sales growing at 25% per month, eyeing a $50 million run rate as reported by TechCrunch.
It’s been about a year since Flipkart started moving from being a pure bookstore to selling mobiles/DVDs etc. Since then, Flipkart went for a major brand makeover, making it look more ‘upmarket’.
There has been large newspaper ads, TVCs and a lot of web ads.
Initially funded by the Bansals themselves with 4 Lakh(INR).
Flipkart has since then raised two rounds of funding from venture capital funds Accel India (in 2009) and Tiger Global Management (up to the tune of US$10 million) (in 2010).
Private equity firms Carlyle and General Atlantic are in talks to jointly invest about $150 million to $200 million in Flipkart, according to sources.
2010: “We Read”, a social book discovery tool.Thestated goal was to give Flipkart a social recommendation platform for buyers to make informed decisions based on recommendations from people within their social network.
2011: Mime360, a digital content platform company.
2011: Acquired the rights to Chakpak’s digital catalogue which includes 40,000 filmographies, 10,000 movies and close to 50,000 ratings. Chakpak.com is a Bollywood news site that offers updates, news, photos and videos.
Discoverablity SEO “We Do Not Sell Used Books” tagline.
“We DO NOT sell old books or used books. All the books listed at Flipkart.com are new books.The books listed at Flipkart.com are
NOT available for free download in ebook or PDF format....”
Payment cash on delivery.,.. auto redirection to banking site...Inventory... Not like only when an order is placed
they get the product.The products are all there in the godown. When u order u get it after the specified number of days. Strictly abide by “never promise something that u don't have” rule.
Delivery.. Most similar looking envelopes are never delivered
thinking that it is a marketing package and no one would track it. They would be willing to bargain on rates but would never say anything about the service. Paying a premium may not solve the problem always.
Flipkart is seen delivering through their own delivery boys in Bangalore and at times within 12hrs from order.
Flipkart is looking to build its own courier company. The recent $20Mn funding from Tiger Global was only part of a larger sum they are known to be raising.
Flipkart has offices, warehouses and customer service centers across India. Warehouses are located in the following cities, often near airports.
Bangalore Chennai Delhi Hyderabad Mumbai Noida Pune Kolkata
Flipkart has added a prepaid Wallet feature to its
e-commerce platform that allows shoppers to
store money on the site and use it to purchase
items, without having to reach for their credit
card for each transaction, according to a
MediaNama report.
Attract users to the site Family, Friends, SEO, SEM,WoM, Brand Building
Provide selection Make it easy to Find & Discover products
Provide details to evaluate a product Description, Specifications, UGC
Price well Have to be competitive to the most obvious
options
Provide convenient payment options Online, COD
Confirm payment
Get the item Procure from Supplier (Just-in-time) (Supplier selection) Keep Inventory (Inventory Prediction, Planning)
Clean & Check for sanity Pages missing, MRP printed lesser than told to you
Pack the item Tamper proof, weather proof, breakage proof
Select courier & hand-over Courier performances vary across regions a LOT
Get tracking id & communicate to customer Follow-up for timely delivery
Take care of returns (faulty product/user changes their mind)
Minimize returns
No glamour – this is dhanda and very traditional at that.
Your competition is on SP road and ChandniChowk.Dealing with suppliers:
> Signing agreements with suppliers
> getting them to share data feeds
> getting them to fulfill your orders Dealing with Payment Gateways Setting up & operating large warehouses Dealing with Couriers People may not be as forthright & honest
Flipkart, the first billion dollar Internet company from
India(going by 2015 estimates )is by far the leading
online store in the nation.
Now that Amazon is reportedly entering India in early
2012, this news becomes even more significant,
considering that Amazon has previously, and
unsuccessfully, tried acquiring the company, with
Flipkart demanding a very high buyout price.
With online retail industry in India pegged to reach
$1.5 billion (2015), sources suggest that e-commerce is
just hotting up in India and we may soon seen many
more Internet companies achieving similar success.
Wikipedia
The Next Web
Flipkart
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