Tara Anand Kumar
* Success company – Flipkart.com
Akul Singhal – 1011330
* Failure Company – Atkins Nutritionals Inc
Tara Anand Kumar – 1011327
* Turnaround company- Dish Network Inc.
Abhisekh Tripathy – 1011328
Flipkart is an Indian online shopping company headquartered in Bangalore, India. Flipkart was established by Sachin Bansal and Binny Bansal both 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. A few months later, the company sold its first book on flipkart.com - John Woods' Leaving Microsoft to Change the World. 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 7 million titles on offer. Flipkart broke even in March 2010 and claims to have had at least 100% growth every quarter since it’s founding. The store started with selling books and in 2010 branched out to selling CDs, DVDs, mobile phones, cameras and other electronic gadgets. As of today, Flipkart employs over 3000 people.
Flipkart's reported sales were 4 Crores (40 Million) in FY 2008-09, 20 Crores in FY 2009-10 and 75 Crores for FY 2010-11. On average, Flipkart sells nearly 10 products per minute and is aiming at generating a revenue of 1 billion US$ by 2015.
2010: WeRead, a social book discovery tool. The stated 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.
Founded in October 2007, Flipkart was a humble online book retailer, which went on to become the largest online bookstore in India within two years, surpassing its rivals such as Infibeam, Landmark and Indiaplaza. In 2010, it diversified into becoming a generic e-commerce website, selling mobile phones, laptops, music CDs/DVDs, movies, games and software, and acquired a California-based company social book discovery service weRead. It underwent a major brand makeover earlier this year with a new interface and logo, and kick started its offline advertising campaign in addition to its aggressive online campaigns by putting out ads in the leading newspapers and on television channels to become one of the hottest Internet companies in India, signifying the huge growth the company was experiencing. Recently, it further expanded its product portfolio to encompass home appliances and personal & health care products as well.
Sachin Bansal’s broad vision for his firm is to emulate his former employer, the world’s biggest e-tailer, Amazon. Starting out with just books, Flipkart.com now sells movies, music, games, mobiles and, since last month, cameras and computers. “Next fiscal, we will start selling other electronic items like printers, Mp3 players, televisions and audio systems,” Bansal, 29, says on the phone from Bangalore, where Flipkart is headquartered. These new products along with Flipkart’s existing offerings, he believes, will help the start-up clock revenues of Rs500 crore by March 2012, a sixfold growth over the Rs70-75 crore the company hopes to earn this fiscal. Flipkart ended 2009-10 with a topline of about Rs20 crore.
It’s the easiest for a start-up to sell online. People don’t trust a new portal with Rs5,000 for a mobile phone but they don’t mind buying a Rs 100 book. They are still very focused on books and will try to grow that faster than other segments. Though he refrains from disclosing the share of books in Flipkart’s business, Bansal says they still contribute the most to its revenues. Contrary to popular perception that the habit of reading, and hence...
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