Flipkart, The Amazon of India Is Valued At $1 Billion


Flipkart is an Indian electronic commerce company headquartered in Bangalore, India. Established in 2007, it is the largest online bookstore in India.

Flipkart became one of the top 100 Indian sites and was credited for being India’s largest online bookseller with over 7 million titles on offer.

Initially funded by the Bansals themselves with INR 4 Lakh, Flipkart has since then raised two rounds of funding from venture capital funds Accel India (in 2009) and Tiger Global Management (up to the tune of US$10 million) (in 2010).

In December 2010, Flipkart acquired WeRead, a social book discovery tool from Lulu, a US-based on-demand publishing firm. The stated goal was to give Flipkart a social recommendation platform for buyers to make informed decisions based on recommendations from people within their social network.

Flipkart was recently valued at $1 billion, a first for an Indian startup. As of June, 2011, Flipkart had 1,500 employees on board and offices in Bangalore, Mumbai, Delhi, Chennai and Kolkata.

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