12/08/2020
The great Indian battle had its euphoric moment with the entry of JioMart, which has a strong backing of industry giants as Google, Facebook & Microsoft. The competition was already fierce with the world's largest e-commerce company, Amazon vying, for market supremacy with the world's largest retailer, Walmart
Flipkart, a thirteen-year young startup, has virtually written the rules for e-commerce in a country where gaining customer confidence was way more challenging than selling the product.Founded by two IIT grads, Sachin Bansal & Binny Bansal, the firm has been successful in providing wings to the culture of internet entrepreneurship in the Indian Technology Ecosystem. Over the years, many former Flipkart executives have gone on to start successful independent ventures as udaan.com, cure.fit, Suki and RUNNR.
Flipkart is valued at $24.9 Billion and has recently acquired Wal-Mart India Private Limited, which operates the “Best Price” wholesale business. The move would strengthen Flipkart's foothold in the B2B and B2C segment, as the entity launched a division named Flipkart Wholesale, a new digital marketplace aimed at transforming the Kirana retail ecosystem in India.
The buzz question is: How early can Flipkart realize its ambition of launching an IPO and reach the coveted $100 Billion valuation mark?
Read the full article: " Flipkart: The torch bearer of Indian ecommerce industry" here
The Indian battle had its euphoric moment with the entry of JioMart, which has strong backing of industry giants as Google, Facebook & Microsoft...