Dileep Kumar
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Flipkart ‘s aggressive outlook has already seen it become the largest online retailer in the country. Earlier this year, it beat its own projections by reaching $1 billion in sales and topped off a great start to the year with the acquisition of fashion e-tailer Myntra in May. With this week’s new funding of $1 billion, the sky seems to be the limit for the seven years old company and Flipkart’s founders—Sachin Bansal and Binny Bansal, have made it clear that they see themselves as the “mobile e-commerce company of the future”.
“Mobile commerce is going to be a focus area for us going forward - we foresee a lot of growth in this area. We believe mobile can only become a key growth driver if one can create tailor-made mobile interfaces for the end user and we intend to concentrate our energy on this,” said Sachin Bansal, who is also the CEO of the company. When quizzed whether the new investment would be used to fuel further inorganic growth, Bansal said, “The mobile space is ever evolving. We will be looking at some acquisitions in mobile applications and other technologies.”
The focus on mobile e-commerce is not without reason. With more than 200 million users accessing the internet through the mobile currently, a number expected to reach in excess of 500 million by 2018 according to Morgan Stanley, there is a huge market waiting to be explored.
Apart from mobile, Bansal said big data & analytics will be a key differentiator for the company and something that the company will spend money on. Giving an overview of where the company is heading, Bansal said that investments would be made in building technology platforms to enable sellers in selling online. Flipkart will also be expanding their product categories over the coming 12-18 months with new category launches in the pipeline across segments
“We will also continue to expand the supply chain base. We wish to take Flipkart to the next level by pioneering technology and supply-chain innovations that will change the face of online shopping and one day make us one of the biggest Indian companies on the global map,” said Bansal.
In the press conference to announce the latest round of investment, Flipkart’s founders mentioned their dream of creating India’s first $100 billion internet company. That dream might still be some time away, for now let’s take a look at some of the key events in Flipkart’s journey in recent months:
read more:-http://www.exchange4media.mobi/Story.aspx?news_id=56780§ion_id=4
“Mobile commerce is going to be a focus area for us going forward - we foresee a lot of growth in this area. We believe mobile can only become a key growth driver if one can create tailor-made mobile interfaces for the end user and we intend to concentrate our energy on this,” said Sachin Bansal, who is also the CEO of the company. When quizzed whether the new investment would be used to fuel further inorganic growth, Bansal said, “The mobile space is ever evolving. We will be looking at some acquisitions in mobile applications and other technologies.”
The focus on mobile e-commerce is not without reason. With more than 200 million users accessing the internet through the mobile currently, a number expected to reach in excess of 500 million by 2018 according to Morgan Stanley, there is a huge market waiting to be explored.
Apart from mobile, Bansal said big data & analytics will be a key differentiator for the company and something that the company will spend money on. Giving an overview of where the company is heading, Bansal said that investments would be made in building technology platforms to enable sellers in selling online. Flipkart will also be expanding their product categories over the coming 12-18 months with new category launches in the pipeline across segments
“We will also continue to expand the supply chain base. We wish to take Flipkart to the next level by pioneering technology and supply-chain innovations that will change the face of online shopping and one day make us one of the biggest Indian companies on the global map,” said Bansal.
In the press conference to announce the latest round of investment, Flipkart’s founders mentioned their dream of creating India’s first $100 billion internet company. That dream might still be some time away, for now let’s take a look at some of the key events in Flipkart’s journey in recent months:
read more:-http://www.exchange4media.mobi/Story.aspx?news_id=56780§ion_id=4
