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Jul 21, 2012, 03.53 PM IST
From a two member embryonic idea to a 5000 member company. The Flipkart story is not just about phenomenal success and mind numbing numbers but much more than that. It is about redefining customers’ shopping experience.
Sachin and Binny Bansal found themselves stuck in boring tech jobs after graduating from IIT Delhi. Amazon.com, the world's largest online book retailer was the first chapter in their startup story. Inspired by Amazon they began flipkart.com in 2007. What started as an online book store with just Rs 4 lakh and 50,000 titles, today it is India's online megastore selling 17500 items everyday.
Sachin and Binny are now looking at grossing revenues of Rs 2500 crore this financial year that bear a question mark on sustainability and profitability and the kind of cash the venture will need to burn over the next few years.
May 23 2013, 16:33
- in Asian markets
May 23 2013, 09:33
- in Technicals