Startups

Big Billion Startup | An engaging account of genesis and survival of Flipkart

Source | www.financialexpress.com | Madan Sabnavis

This is a fascinating book on the story of Flipkart which narrates the tale with panache. It is like a ball-by-ball commentary on all the steps that led to the creation of this rather amazing company to the time Walmart took over to make it a greater force in the e-commerce space.

The story is exciting because it is in a very happening business which could be the future of retailing. Set up by Sachin and Binny Bansal, it was a demonstration of how engineers who were not really brilliant while studying in IIT could come up with a rather unique idea and make it happen. They not only germinated the concept, but took it to fruition and made it profitable in the first year of operation. Like all successful start-ups, Flipkart started off from a residential flat and expanded to premises in prime areas in Bengaluru.

The story is very instructive of how to create a business, as it involves forging strong backward integration that goes into such a project as it traverses the supply chain. Flipkart sold books to begin with, where employees ran and procured them to satisfy orders. Next they went on to strike deals with distributors and publishers.

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Source
www.financialexpress.com
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