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Assignment On Entrepreneur

Binny Bansal and Sachin Bansal founded Flipkart.com in 2007 after working at Amazon India. They started with an online bookstore and have since expanded into movies, music, and games. Flipkart aims to offer low prices, free shipping, and excellent customer service. They have received funding from Accel and Tiger Global and plan to continue growing their product selection and customer base.

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Kalyani Vaddepalli
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111 views

Assignment On Entrepreneur

Binny Bansal and Sachin Bansal founded Flipkart.com in 2007 after working at Amazon India. They started with an online bookstore and have since expanded into movies, music, and games. Flipkart aims to offer low prices, free shipping, and excellent customer service. They have received funding from Accel and Tiger Global and plan to continue growing their product selection and customer base.

Uploaded by

Kalyani Vaddepalli
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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BINNY BANSAL

SACHIN BANSAL
A.Kalyani
09MBMA53
INTRODUCTION
• Flipkart.com is a Bangalore based online retail bookstore.
• It was started on 5th Sept. 2007 by two IIT Delhi graduates co-
founders Binny Bansal and Sachin Bansal. The website was
launched on 15th Oct.2007.
• Both were computer science graduates.
• Sachin worked for Techspan for 6 months and then at Amazon
India for a year and a half.
• Binny worked for Sarnoff India for a year and a half and then
at Amazon India for 8 months.
• They quit their jobs in Sept.2007 to begin their start up
journey.
• It took them about a month and a half to start a basic working
website with 50,000 titles.
• They have now grown to over 1 lakh available titles.
IDEA & FUNDING

• Bansal’s started Flipkart.com because they felt the need for a


good online book store. They believe that they can make a
difference.
• E-commerce sector is one of the toughest to get into India.

• They wanted to create something which has a long lasting


value and which they can be proud of.
• The online retail firm, which raised its first round from Accel
has just expanded its product shelf.
• It has raised its second round of venture funding from
New York – based investment firm Tiger Global
Management.
• This development comes as Flip kart has expanded from
being an online book retailer to offering products in
movies, games and music.
• It also plans to launch sale of software like Norton
antivirus, Adobe, Windows and others.
CHALLENGES
• To get tie-ups with the major book vendors as they did not
have an off-line book store.
• To get the approval for the credit card payment gateway.
• To maintain Axis bank for the payment gateway was a tough
job.
• Reaching out to a larger set of people with minimum budget.
• Scaling the back end operations.
FUTURE PLANS

• Currently they are completely focused on books.

• They want to be number one in books first, get a big customer


base and then look at the possibilities of offering other
products.
MARKETING STRATEGY

• A large part of their marketing is built in to lower prices.

• They believe that keeping prices low will keep the customer
happy and can generate a lot of positive word of mouth which
has much better ROI.

• The current goal is to reach as many enthusiastic online book


shoppers as possible.
BUILDING TRUST
Free shipping.

USP

• Simplicity, convenience and customer service.

• Searching and browsing made as simple as possible.

•Maintaining very high standards for customer support.


• Flipkart currently has over 6 million titles listed ranging
across all categories.

• Presently the company’s turnover is Rs.25 crore in 2009-10.


The company is targeting revenues of Rs.100 crore by March
2011.

• The company has a team of 200 members and currently


operates from offices in Bangalore, Mumbai and Delhi.
• Two distribution centers one in Delhi and other Bangalore are
operated by it and expected three more centers in Mumbai,
Chennai and Kolkata by the end of this fiscal.
• This online book store recently launched three new product
categories like movies, music and games.
• It offers books on various subjects including arts &
photography, computers and internet, history, mystery,
thrillers and many more.
• Flipkart helps to search for all favorite books and buy book
online by offering low prices, free shipping and an intuitive
interface as well as excellent customer service.
• The books categories are Tags based. We can search for boos
by author, book name or ISBN.
• Payment can be made through credit card, debit card, internet
banking and cash – on-delivery.
• They use all premier couriers like Fist Flight, Overnite and
Blue Dart etc.

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