There’s a good chance your first online purchase in India was made on Flipkart. Maybe it was a book, a budget smartphone, or a pair of headphones on sale. Whatever it was, Flipkart wasn’t just fulfilling an order but was building trust.
Over the years, Flipkart has become a go-to destination for birthday surprises, festive splurges, last-minute anniversary gifts, and those impulsive midnight purchases. It has shaped the way Indians shop online.
From offering cash on delivery when digital payments were still a novelty, to battling global players like Amazon, Flipkart has always found a way to stay ahead of the curve. But behind those big billion days and app notifications lies a story of sharp business decisions and bold funding rounds.
In this blog, we’ll unpack Flipkart’s journey so far!
About Flipkart
Flipkart was established in October 2007 by Sachin Bansal and Binny Bansal, both graduates of IIT Delhi. It began as a simple online bookstore soon and has since evolved into one of India’s largest e-commerce platforms. Over time, Flipkart expanded its offerings to include electronics, fashion, home essentials, and much more, reshaping the online shopping experience in the country.
The idea was born in 2005 when the two founders met and shared a common vision of building a homegrown digital retail giant.
As of March 31, 2024, Flipkart reported an annual revenue of INR 70,800 crore.
Meet the Founders
Flipkart’s journey wouldn’t be what it is today without the vision of its founders. Let’s take a quick gander at the brains behind the brand!
- Sachin Bansal
Sachin Bansal, born on August 5, 1981, in Chandigarh, is a renowned Indian entrepreneur best known as the co-founder of Flipkart. After graduating from IIT Delhi in 2005 with a degree in Computer Science, he began his career at Techspan before joining Amazon Web Services as a Senior Software Engineer.
In 2007, he launched Flipkart alongside Binny Bansal, playing a pivotal role as CEO and later Chairman. He led the company through its rapid rise until 2018, when Walmart acquired a majority stake in Flipkart.
After leaving Flipkart, Sachin Bansal went on to establish Navi Technologies, a financial services company where he currently serves as Managing Director. As of 2025, his estimated net worth is approximately USD 1.3 billion.
- Binny Bansal
Binny Bansal, born in 1982/1983 in Chandigarh, is the co-founder of Flipkart. He holds a Bachelor’s degree in Computer Science and Engineering from the Indian Institute of Technology (IIT) Delhi. After starting his career in 2005 at Sarnoff Corporation, a U.S.-based tech consulting firm, he joined Amazon in 2007. That same year, he partnered with Sachin Bansal to launch Flipkart.
Binny played a critical role in shaping Flipkart’s tech backbone. In 2018, he stepped down as Flipkart’s CEO and later resigned as Group CEO after Walmart acquired a majority stake in the company.
He served on the board of PhonePe after Flipkart acquired it in 2016, and although he stepped down in November 2024, he remains its largest individual minority shareholder. Over the years, he has also advised companies like GreyOrange, Acko, Udhyam Learning Foundation, and N/Core.
In March 2025, Binny Bansal launched his latest venture, Opptra, a tech-driven startup aimed at helping brands scale their franchise operations across Asian markets.
All You Can Do With Flipkart
Flipkart offers a comprehensive suite of services that go beyond just online shopping. The platform is built to serve both customers and sellers with features that streamline the entire e-commerce experience.
For sellers, Flipkart provides essential tools like product listing and catalog management, advertising solutions, and support for inventory and order processing. Sellers also benefit from dedicated account assistance, helping them navigate the platform and scale their businesses effectively.
For customers, Flipkart enhances the shopping experience with services such as Cash on Delivery, No Cost EMI, and full of ease returns. These features are designed to make online shopping more flexible, and reliable for users across India.
Flipkart also supports its seller ecosystem with partner services that cover taxation, warehousing, sourcing, software tools, and accounting.
Flipkart’s Funding Journey
Flipkart’s funding journey is one of the most significant in India’s startup ecosystem. Since its inception, the company has raised a total of USD 12.1 billion over 22 funding rounds, attracting a long list of high-profile investors. Key backers include Tiger Global Management, Naspers, Accel, and over 100 other institutional investors. Tencent is Flipkart’s largest institutional investor, while angel investors like Ashish Gupta have also played a key role in backing the company.
The most recent funding came through a Series J round on May 25, 2024, in which Google participated as the lead investor, contributing USD 350 million. Following this funding round, Flipkart’s most recent valuation was pegged at an impressive USD 36 billion.
A major turning point came in May 2018, when Walmart acquired a 77% majority stake in Flipkart for USD 16 billion, marking one of the largest acquisitions in the global e-commerce space.
The deal was executed with the support of advisory firms such as Goldman Sachs, Gunderson Dettmer, Khaitan & Co, and others. This acquisition positioned Flipkart as a powerful ally for Walmart’s entry into the Indian online retail market, while still allowing Flipkart to operate independently and scale further under its brand.
Breaking Down Flipkart’s IPO
Flipkart, backed by Walmart, is reportedly preparing for one of the biggest IPOs in India’s corporate history. The company is expected to go public with an estimated valuation ranging between $60 billion and $70 billion, according to recent reports. No official timeline has been confirmed yet.
Flipkart’s Market Share
Flipkart holds a dominant 48% share of India’s e-commerce market, solidifying its position as the industry leader. Its strong foothold is largely driven by consistent performance in categories such as apparel and electronics. Despite facing stiff competition from major rivals like Amazon India and rising players like Meesho, Flipkart has managed to maintain its leadership position.
Afterword
From humble beginnings to billion-dollar valuations, Flipkart’s journey is a reflection of how far India’s digital economy has come. And as it continues to grow, the packages keep filling with more and more possibilities!