Founded in 2007, Flipkart has grown to be India’s top e-commerce company. Co-Founders Sachin Bansal and Binny Bansal started the company with just 400,000 rupees ($6,500) cash, started delivering books across Bengaluru on their scooters. As of November 2016, Morgan Stanley stated the current market value of Flipkart is $5.54 billion.
In April 2016, Sachin Bansal & Binny Bansal were named in 100 most influential people by TIME.
“Filpkart, now India’s top internet retailer with an estimated 44% market share and often touted as the country’s Alibaba, Flipkart has attracted $1.9 billion from investors such Tiger Global Management, Qatar Investment Authority and Naspers. It boasts 30 million products, 46 million registered users and 8 million shipments a month. “ – Forbes.
According to The Unicorn List (list of private companies valued at $1 billion or more) Flipkart scored its place at #8 with valuation of $15 billion.
With Uber leading the list, Snapdeal was able to save itself a satisfactory seat at #22 with $7 billion valuation. Despite having a rocky start, surviving various controversies, Snapdeal has become one of the top retailers in World’s largest democracy – India.
Uber surely snatched the crown in the list but Ola Cabs have grown noticeably since a couple of years, scoring the seat at #21 with valuation of $5 billion.
Ola claims to clock an average of more than 150,000 bookings per day and commands 60 percent of the market share in India.