Flipkart is an Indian e-commerce organization based in Bangalore, Karnataka, India. This company was established by Sachin Bansal and Binny Bansal in 2007. The company focused on selling books, before expanding into other product categories such as consumer electronics, fashion, household and grocery items, and lifestyle products.
The service primarily competes with Amazon’s Indian subsidiary and national rival Snapdeal. As of March 2017, Flipkart had a market share of 39.5% of the Indian e-commerce industry. Flipkart is difficult dominant in clothing sales (a position that was reinforced by the acquisition of Myntra) and is described as “side by side” with Amazon in the sale of mobile electronic and mobile products. Flipkart additionally owns PhonePe, a mobile payment set based upon the Unified Payment Interface (UPI).
Walmart and Flipkart
With reference to the declaration from Walmart’s dealings, eBay stated that it would trade its Flipkart stick to the company concerning around $ 1.1 billion also relaunch its own actions in India. The company stated that “There is the tremendous growth potential for e-commerce in India and a significant opportunity for multiple players to succeed in India’s diverse national market.” Softbank Group also sold its full 20% stake to Walmart, without disclosing the terms of the sale.
Acquisition
The acquisition was completed on August 18, 2018. Walmart also provided $ 2 million in equity to the company. On November 13, 2018, Flipkart CEO Binny Bansal resigned, after facing an accusation of “serious personal misconduct”. Walmart said that “although this inquiry found no proof to prove the assertions against Binny, it made expose other flaws in the trial, unusually the need of clarity, compared to how Binny responded to the circumstances.”
The breakdown
On March 25, 2020, Flipkart accompanying Amazon announced that they wish to suspend all aids in India. The suspension was recognized as a result of confusion over the details of the country’s strict 21-day blockade amid the outbreak of the COVID-19 pandemic.
Big Saving Days
Flipkart is organizing the sale of Big Saving Days on the platform. The sale will be active June 23-27, during which consumers will be able to get smartphones, accessories, and other electronic items at a discounted price.
In addition, during the sale of Big Saving Days, users can also take advantage of additional bank discounts. HDFC Bank customers will be eligible for an instant 10 percent discount on the use of HDFC Bank cards or EMI transactions. We are listing the best smartphone deals you can get at Flipkart sale.
Below are the most great offers to grab
Get up to 70% off on Headphone and Speakers
Buy Men Casual Shirts starting from Rs.415
1 Comment
Pingback: Amazon Prime Day 2020 sale promises great deals, new exclusive launches - TheUnblog