You go online to buy sunglasses and a list appears with four to five names on the top, which are quite familiar to you. Being a brand that promoted online sales in India, Flipkart is bound to be among them. It’s not with sunglasses only but for a number of other shopping items too, that you will find Flipkart among the leading choices of online shoppers.
Here we have uncovered the facts that will tell you how an eCommerce platform like Flipkart is developed and raised:
Flipkart is an Indian eCommerce store having its nerve center at Bangalore. With its annual sales of Rs 2,000 cr, the company stands as one of the bestselling online stores in India. A small online business, initiated as a book store, today sells almost 20 products per minute that include everything from mobiles, clothing, footwear, toys, home furnishings, accessories to eBooks.
The company is owned by two IIT Delhi graduates, Sachin Bansal and Binny Bansal who left their jobs at Amazon and brought sales under the roof of technology. They started this venture when eCommerce was more of a risk than opportunity but with a clear vision of offering the best consumer experience to internet users, they witnessed incredible growth in the last six years. The list of Flipkart competitors includes prominent names like Amazon.in, eBay.In, Homeshop18.com, Infibeam.com, Tradus.com, & Snapdeal.com.
There are lots of queries regarding the one who designed it but the bigger question is what technology does Flipkart use because it is that technology that is making Flipkart a users’ favorite. Developing an online platform is a job that requires an equal share of Technological expertise and sound decision making. Principally built on PHP, this website offers a human experience that makes the shopping experience as satisfying as in a real store. Sachin Bansal, one of the founders, did initial coding on an open-source platform and customized it according to their initial business needs. Later on, the duo focused more on the management aspects like packaging and delivery. As in current times, their programming engineers make sure that the site is high on responsiveness and low on tech errors, which is the most favorable selling point of this online store.
Engineers at Flipkart use A/B framework to test new ideas and implementations so that the upgraded functionality can be delivered to its customers. It offers fast checkout, instant product search and Layered and Faceted Navigation that adds to its user experience.
The complete user experience that they offer has brought them to point where the company has closed its fundraising at $360 million which includes an additional $160 million to its fund count that was announced to be $200 million in July. The list of investors includes Morgan Stanley Investment Management, Sofina, Dragoneer Investment Group, and Vulcan Capital-alongside existing investor Tiger Global.
Engaging customers with infusing technology and innovative solutions is the thumb rule to raise an online store. Except this, what adds to its success is:
Flipkart meets the above-mentioned standards perfectly and thus happens to be one of the most saleable eCommerce brands of India.
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