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Flipkart Mou with Government

In: Business and Management

Submitted By divyasree16
Words 8649
Pages 35
FLIPKART’S MOU WITH MINISTRY OF LABOUR AND DGET

SUBMITTED BY:
CHINMAYEE SHARMA-13BSPHH010156
KULJEET KAUR CHHABRA-13BSPHH011068
ANITHA M-13BSPHH010061
DIVYA SREE B-13BSPHH010149
CHETIKA GUPTA-13BSPHH010154
ABHIDHA-13BSPHH010011
ARYAMITA MOHANTY-13BSPHH010121

SUBMITTED TO: Dr. PURNAPRABHAKAR NANDAMURI
DATE: 31-8-2014

Background Flipkart is an e-commerce business founded by Sachin and Binny Bansal in 2007 both are not related to each other and alumni of IIT Delhi. It is a Singapore holding based company and the most of investors are from foreigners, the business was incorporated as a company in October 2008 headquarters Bangalore, Karnataka .During its initial years Flipkart focused only on books and soon as it expanded, Today they are present across categories including movies, music, games, mobiles, cameras, computers, healthcare and personal products, home appliances and electronics, stationeries, perfumes, toys, apparels, shoes and eBooks. They both pooled in Rs 2 lakh each and with two computers launched the site from their two-bedroom apartment in Koramangala, a primarily residential locality in Bangalore where the company now has multiple offices. For 10 days, the site did not see a single sale and then a customer VVK Chandra from Andhra Pradesh placed the first order for the book 'Leaving Microsoft to Change the World’. Now the Flipkart has more than 10000 employees. Flipkart initially had spent 4lakhs to set up the business but it has later raised funding from Venture Capital funds Accel India, Tiger global, Nasper group and Iconiq Capital. In 2011 Flipkart acquired Mime360 and Chakpak.com Websites and later in 2012 flipkart revealed its new Flyte Digital Musical Store, but it was shut down in June 2013 as paid songs download didn’t get popular due to free music streaming sites. The acquisition of Letsbuy.com in 2012

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