10 years ago, two young men resigned from their job in a reputed company and moved towards their dream. He started his small company in two-room house in Bangalore. The result of his passion and hard work was that his company Flipkart became the largest e-commerce company in the country. Its new office in Bangalore is 8.3 million square feet. Take a look at this unique life journey of Online Bookstore To flipkart..
In 2005, Sachin Bansal and Binny Bansal met in IIT, Delhi. Working in the American e-commerce company Amazon, both have a friendship. Then, both of them left the job and in October 2007, Flipkart was established as an online bookstore in Bengaluru. It is also a fact that both of them have learned business tricks by staying in Amazon and this is a tough competition between Amazon and Flipkart in India.
One of the important points of both of these rivalries of both legendary companies is that both the companies were started in almost the same way. Amazon started as a bookstore and Flipkart also started as a online book store.
The first book that Flipkart sold was ‘Living Microsoft to Change the World’ written by John Woods. After the books, the company started selling music, movies, games, electronic equipment and mobile. Sales of electronic devices and mobiles brought the company up and running rapidly. In 2010, the company launched its logic company.
In 2008, the company opened the first office in Bangalore. After this, he started new office in Delhi and Mumbai in 2009. The company reconstructed all the Bangalore office in the 8.3 million square meter. In 2011, the company opened a branch in Singapore.
The combined losses of the company owners in the financial year 2017 were 87.70 billion rupees. In 2016 it was 52.16 billion rupees. The company’s net profits increased 29 percent to Rs 198.55 billion compared to 2016. And now flipkart is biggest e-commerce company in country.