- How Much Longer Will We, a People, Accept a Fact That Our Government Ignores Us?
- How Can ADHD Affect Your Life?
- Ja’Mal Green Takes Top Spot on Mayoral Ballot
- Rick and Morty Prefinale Season 6 Review
- TNS, and My Endeavor Into It
- Actress Kirstie Alley Dies during Age 71
- The USPS Is a Hot Mess and Needs a Major Reformation
- Do It Now: There Is No Promise That Tomorrow Is a Reality
- Kanye West Seems to Have Lost His Mind
- Why World AIDS Day Is Important [Video]
Flipkart crosses 100 mn business milestone
- Updated: September 21, 2016
New Delhi: Homegrown e-tailer Flipkart has crossed a 100-million purebred users mark, apropos a initial e-commerce association in a nation to strike a milestone. The Bengaluru-based association has doubled a user bottom over a final year and combined 25 million users in a past 6 months alone.
“This is a tiny step in a efforts to build a height that provides peculiarity products, affordable and permitted to millions of Indians selling online. This miracle has serve energized us to ramp-up a efforts and build a world-class selling destination,” Flipkart co-founder and CEO Binny Bansal said.
One of a many valued start-ups in a country, Flipkart has Tiger Global, Accel Partners, Morgan Stanley and T Rowe among a investors. The association has lifted over USD 3 billion in appropriation so distant and has acquired companies like Myntra, PhonePe and LetsBuy. It has also invested in start-ups like Cube26, NestAway and BlackBuck.
A new Bank of America Merrill Lynch Report pegged Flipkart as a personality with over 43 per cent marketplace share. It foresee that by 2019, Flipkart would boost a share to 44 per cent.
e-commerce companies in India have witnessed extensive expansion on a behind of clever direct for smartphones and augmenting information usage. India, that is among a fastest flourishing e-commerce markets globally, is approaching to continue on a expansion movement over a 3 to 5 years. US online tradesman Amazon and Chinese heavyweight Alibaba are creation poignant investments in India to constraint a nascent marketplace here.
India is being seen as an event globally with a poignant cube of unfamiliar investments issuing into a zone in companies like Flipkart, Snapdeal and Paytm.