Flipkart

Flipkart
Company typeSubsidiary
IndustryE-commerce
Founded2007; 17 years ago (2007)
Founders
Headquarters
Area served
India
Key people
Kalyan Krishnamurthi (CEO)[1]
ServicesOnline shopping
RevenueIncrease ₹70,541 crore (US$8.5 billion) (2024)
Positive decrease ₹−4,248 crore (US$−510 million) (2024)
Number of employees
22,000 (excluding Myntra)[2] (January 2024)
ParentWalmart (~85%)[3]
Subsidiaries
Websiteflipkart.com
Footnotes / references
Financials as of 31 March 2024.[4]

Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.[5][6]

The service competes primarily with Amazon India and domestic rival Snapdeal.[7][8] As of FY23, Flipkart held a 48% market share in the Indian e-commerce industry.[9] Flipkart has a dominant position in the apparel segment, bolstered by its acquisition of Myntra, and was described as being "neck and neck" with Amazon in the sale of electronics and mobile phones.[10]

  1. ^ "Kalyan Krishnamurthy to be Flipkart's new CEO; Sachin Bansal to remain group chairman". The Economic Times. 10 January 2017.
  2. ^ "Flipkart layoffs: Company plans to fire 1,100-1,500 employees, says report". Business Today. 8 January 2024. Retrieved 19 January 2024.
  3. ^ Yadav, Pooja (18 March 2024). "Flipkart Valuation Declines Over INR 41,000 Cr In Two Years". Inc42. Retrieved 19 March 2024.
  4. ^ "E-commerce major Flipkart narrows loss to Rs 4,248 crore in FY24". Business Standard. Retrieved 28 October 2024.
  5. ^ "Flipkart: India online retail giant raises $3.6bn in latest funding round". BBC Home. 13 July 2021. Retrieved 21 December 2023.
  6. ^ "This Indian favourite emerged as the most shopped clothing item on Flipkart in 2023". Moneycontrol. 18 December 2023. Retrieved 21 December 2023.
  7. ^ Halzack, Sarah (9 May 2018). "Walmart Is Right on Flipkart Despite Investor Qualms". Bloomberg. Retrieved 11 May 2018.
  8. ^ Punit, Itika Sharma. "Snapdeal may die a slow and painful death". Quartz. Retrieved 11 May 2018.
  9. ^ "Flipkart Market share". Live Mint. January 2024. Retrieved 4 July 2024.
  10. ^ Tandon, Suneera. "Why Walmart bought Flipkart, according to Walmart". Quartz. Retrieved 13 May 2018.