|Sachin Bansal||Binny Bansal|
|Co-founder& Executive Chairman||Co-Founder|
Company name : Flipkart
Website : www.flipkart.com
Type of business : Private
Founded : 2007
Headquarters : Bengaluru, India (However some parts are registered in Singapore)
Area served : India
Founder(s) : Sachin Bansal, Binny Bansal
Key people : Sachin Bansal (Chairman)
Kalyan Krishnamurthy (CEO)
Services : Online shopping
Subsidiaries : Myntra, Jabong.com, PhonePe, eBay.in (India), EKart, Jeeves.co.in
Commercial : Yes
Registration : Required
Current status : Online
Flipkart was founded on 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. They worked for Amazon.com, and left to create their new company incorporated in October 2007 as Flipkart Online Services Pvt. Ltd.
Flipkart started by selling books online and popularised the idea of buying books online in India. Flipkart now employs more than 33,000 people.
After its 2014 Big Billion Sale, Flipkart carried out a second Big Billion Sale. Where it is reported that they saw a business turnover of $300 million in gross merchandise volume.
In a report dated 25 November 2014, a leading media outlet reported that Flipkart were operating through a complex business structure which included nine firms, some registered in Singapore and some in India. In 2012, Flipkart co-founders sold WS Retail to a consortium of investors led by Rajeev Kuchhal.
On November 2012, Flipkart became one of the companies being probed for alleged violations of FDI regulations of the Foreign Exchange Management Act, 1999.