Flipkart was founded by Sachin Bansal and Binny Bansal in 2007. It is an eCommerce company, now E-Commerce company means; a business model that allows companies to connect with individuals via the internet and allow them to buy and sell goods and services. These business transactions are either, business to consumer (B2C), business to business (B2B), consumer to consumer (C2C), or consumer to business (C2B). Now an American multinational retail corporation named Walmart is the parent organization of It.

You all know about the monopoly, if not so, A Monopoly is a market structure in which only one seller or single producer of a product exists, with no close substitute. But do you know about Duopoly so duopoly is where two companies own almost the entire market for a given product or services. And in the Indian market which is the second-largest Market has a duopoly between an E-Commerce company named Flipkart and Amazon.

Now the owners of Flipkart are Walmart with an 82.1% stake, Tencent with 5.1%, Tiger Global with 4.87%, Binny Bansal with 3.25%, Microsoft with 1.46%, QIA with 1.43%, Accel with 1.32%, and other with the stake of 0.47% in the Flipkart.

• History :

In 2007, Sachin and Binny got the first idea of creating a comparison search engine. At that time he saw a huge gap in the E-Commerce sector in India and left his job at Amazon Web service to set up his own e-commerce site. Initially, he set up his own venture with an investment of rupees 4 lakh and Flipkart started its journey by selling books. In 2008, the company started operations in Bangalore with an office in a 2-room apartment and gained popularity among book readers. The popularity of the company began to attract investor attention, and in 2009 the company was able to secure $ 1 million in capital investment from Accel Partners, an investment firm. In 2010 Tiger Global invested $ 10 million in Flipkart, And the company acquired Bangalore-based social book search service “WE READ”. As the popularity of book sales grew, Flipkart started sailing mobile under the electronic category. Since the company did not get the desired success in this, they implemented a cash-on-delivery system for the first time in India. In 2014 Flipkart was able to raise a total of $ 2 billion through various investors including Tiger Global and Accel Partners. In the same year, It acquired Indian e-commerce company Myntra for $ 330 million to add the fashion and lifestyle category to its portfolio. In 2016 Flipkart acquired Jaborg for $60 million. After the acquisition, Jabong started operating under Myntra and Flipkart had a market share of over 60% in India’s fashion e-commerce space. In April 2017, Tencent, eBay, and Microsoft invested $ 1.4 billion in the company and the company was valued at $ 11.6 billion. In 2018 It was the leading online retailer in India with a market share of 31.9%, while Amazon had a market share of 31.2%. In August of the same year, US retail giant Walmart bought a 77% stake in Flipkart for $ 16 billion, valuing the company at more than $ 20 billion. In 2019 They released the in-app streaming service ” Flipkart Video” to compete with Amazon prime video streaming service Amazon Prime.

• How Flipkart makes money:

The first earning source of Flipkart is commission. Let us take an example to understand it. Suppose you have ordered a product from the website of Flipkart and you have chosen your payment method like pay online or cash on delivery, and when you tab on place order your order is confirmed. And when the order is confirmed, a message or mail is sent to you and the seller to let him know which of his product have been sold on Flipkart and in what quantity. Then that seller packs that product and prepares it for shipment with the address of the customer. And then Flipkart takes the delivery of that product from the seller and delivers that product to the address given by the customer. And when the delivery is successful then within a week or two, Flipkart pays the amount of that product that it sells through Flipkart too after deducting his commission. And the second way he earns is from advertising revenue by displaying the advertising on the Flipkart website and application. Flipkart allows companies to display their advertisement on Flipkart and charge some amount for that advertisement.

• Subsidiaries of Flipkart :

Subsidiaries means, A subsidiary is a company owned or controlled by another company called a parent company or holding company. Flipkart subsidiary companies are

• Myntra –

Myntra is a leading Indian fashion e-commerce company headquartered in Bengaluru, Karnataka, India. In 2007 this company was founded to sell personalized gift items. And in May 2014 myntra.com was acquired by Flipkart.

• PhonePe –

Phone pe is an Indian digital payment and fintech company based on UPI means Unified Payment Interface. The headquarter of the company is in Bengaluru, Karnataka, India. It’s founded in December 2015. It is owned by Flipkart.

• Ekart –

Ekart is a courier delivery services company. Ekart logistic headquartered is in Bangalore Karnataka, India. Ekart delivers almost 10 million shipments in a single month. Ekart shipped 85% of the products ordered on Flipkart as off 2015.

• Cleartrip –

Here the company operates an online travel aggregator website for booking flights, train tickets, and hotels in India and the Middle East countries. It’s founded in July 2006 and the owner is Flipkart with the 80% stake and Adani group with the 20% stake.

• Start-ups which was founded by ex-employees of Flipkart :

There are 200 + startups that were founded by ex-employees of Flipkart and there are some of them

• Udaan –

And online business-to-business marketplace for multi-category products including electronics, clothing, home furnishing products, pharmaceuticals, and many more. The founder of Udaan is Vaibhav Gupta, Amod Malviya and Sajeet Kumar.

• Groww –

Grow is an online application that allows users to invest in FD’s, gold, stock, and mutual funds. Provides tools to access investment details and withdraw funds through an app-based platform.

• Myntra –

Myntra is an E-Commerce company such as Flipkart and Amazon but Myntra deals only with fashion and lifestyle products like headwear, watches, backpacks, sunglasses, and many more for women men and kids.

• fit –

The cult fit was founded by Mukesh Bansal and Ankita Nagori in 2016. Cult.fit is for those who are fitness-free and health-conscious and who want to stay aware.

• Spinny –

Spinny was founded in 2015 and its founder is Ganesh Pawar, Ramanshu Mahaur, Mohit Gupta, and Niraj Singh. In this, you can buy and sale are used cars. The platform enables car owners to list their cars for sale on the platform and get instant offers.

• Pocket FM –

Pocket FM allows users to listen to multiple stories, books, and audio summaries & broadcasts. It also provides radio streaming services. This app was founded in 2018 and its founders are Kanaganamaradi Nishant, Prateek Dixit, Rohan Nayak & Stuart Ruthven.