Currently, Flipkart is one of the most trusted shopping sites for Indians. But the question comes is Flipkart an Indian company? Who made Flipkart? And how it has become so successful in India? to know the answers of all these questions, you just need to stay tuned with this content.
It would be interesting for you to know that Flipkart even sells their own products such as bags, computer pen drives etc with the branding of Digiflip. But more than 90% of people do not know where and how Flipkart was Started.
Is Flipkart an Indian company?
Yes, Flipkart is an online shopping Indian company that was started by two IIT pass out graduates Sachin Bansal and Binny Bansal in 2007.
The company’s initial year was not proven to be the Best, only 20 products were shipped for the first year. In 2008, the company opened an office in Koramangala, Bangalore, from where they started providing customer support.
But the next year proved to be amazing for Flipkart, And gradually they started getting funding from investors. Today Flipkart is a big name among all of us and according to Statista during the 2020 financial year it has an annual turnover of approx ₹ 346 billion rupees.
Let us tell you that like Amazon, Flipkart was started as a bookselling company, But as per time they expanded their business and today, it becomes India’s largest e-commerce site that sells everything. Not only this but popular brands like Myntra, PhonePe, Cleartip are also subsidiary brands of this company.
Now it is clear that Flipkart was purely launched by two Indian people and it is an Indian origin company. but who actually owns it? Let us know which company has the largest stake in Flipkart.
|Flipkart origin country||India|
|Flipkart headquarters||Bangalore, Karnataka|
|Founder of Flipkart||Sachin Bansal, binny bansal|
Who is the owner of Flipkart?
Guys even though Flipkart was started in India and it is an Indian company, but at present, Walmart has the highest (82.1%) stake in Flipkart.
And as per rule if any company which has over 50% shares, known as the owner of that company.
Thus with most over 80% stakes in a company now Flipkart is owned by Walmart. Walmart is an American multinational retail corporation that holds its stake in many big companies of the world.
Now if we talk about the total stakes of the Flipkart founders, Binny Bansal has a total (3.25%) stake in Flipkart. While Sachin Bansal has left Flipkart due to the agreement between Flipkart & Walmart.
According to sources, currently, Sachin Bansal is planning to buy a bank and is preparing to do something big in the banking sector.
Who is the CEO of Flipkart?
Currently, Kalyan Krishnamurthy is working as the CEO of Flipkart. He was the director manager in a company named Tiger Global (the biggest investor of Flipkart), while working in Flipkart he had saved Flipkart from trouble several times.
Krishnamurthy had started his journey with Flipkart as the Finance Chief, then he became the Sales Head and now he started taking the command of the company As chief executive of this company.
This was the reason When Sachin Bansal said goodbye to Flipkart in 2018, he got the position as a new CEO of this company.
Impact of Flipkart-Walmart deal on Indian economy
Now you knew which company has the highest stake in Flipkart? And How Walmart entered in Indian market By buying Flipkart. Now many Indians wanna curious to ask about Made in India campaign? Will Flipkart remains as an Indian company, With an Indian tag?
Many people believed that the Modi government’s Made in India campaign is fading, They say we cannot make this mission successful by selling big companies like Flipkart? This action will take away many retailers from the competition.
Let us tell you that this was not the first attempt to buy Flipkart.
Earlier, when Amazon had knocked in the Indian market, at that time they wanted to own Flipkart.
Amazon has tried to buy Flipkart three times but, they didn’t succeed. But Walmart was able to make a great deal, As a result, they were able to buy Flipkart. Let us know how this step will be impacted our economy.
1) This will increase the competition between all eCommerce giants like Amazon, Paytm mall and Flipkart quiz.
2) The main objective of Walmart is to increase b2b sales in India.
3) Walmart says that now Flipkart will be able to list itself as a public company, currently, Flipkart is not listed in the US stock market.
in short, as the competition will increase in the market, companies will more likely to sell their products thus buyers will be able to buy a cheaper product by comparing a variety of products. So it will grow our economy and people will get employment.
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