India’s most successful online business conglomerate, Flipkart, has made new benchmarks. It’s co-founders Sachin Bansal and Binny Bansal are the latest billionaires in the country, with $1.3 billion (roughly Rs. 8,582 crores) net worth each.
Started with an initial capital of about Rs 4 lakh, of which Rs 2 lakh was invested to buy computers and furniture, the company started by selling new books. The co-founders Sachin Bansal and Binny Bansal, who were then working for Amazon.com, had an idea & a dream to start an e-commerce company in India.
There were a lot of initial inhibitions such as in India, people often prefer to shop in person and buy goods they see and like. But, thanks to Flipkart, e-commerce has become one of the fastest growing sectors in India. It has changed the consumer shopping behaviour all-together!
Flipkart is a game changer in the industry. It has also acquired few companies like Myntra.com, LetsBuy.com etc., to better their presence in the market. 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 a generation of start-ups.
In a country where stereotypes are common, Flipkart managed to break the norm and change the ecommerce industry in India for ever. 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.