A timeline of Flipkart’s meteoric rise from humble beginnings to acquisition by Walmart
The rise and rise.
Image: Reuters/Abhishek N. Chinnappa
Itika Sharma Punit
We may earn a commission from links on this page.
The biggest success story of Indian e-commerce started from a two-bedroom apartment in Bengaluru.
On Sept. 15, 2007, Sachin Bansal and Binny Bansal (not related) started Flipkart as an online bookstore. The two had known each other since 2005 when they attended the Indian Institute of Technology Delhi (IIT-Delhi) together and were colleagues at Amazon briefly.
Eleven years later, the world’s largest retailer, Walmart, has agreed to buy a controlling stake in the company, Softbank chief executive officer Masayoshi Son said today (May 09).
Flipkart’s journey has been nothing short of a roller-coaster ride. The company went from record-breaking investments and an acquisition spree to failed business experiments and devaluations—only to bounce back.