Transforming online retail: Flipkart's $1 bn funding shows Myntra acquisition was just first step

On Tuesday, Flipkart created history by being the first Indian internet company to raise $1 billion in funding. The development places the e-commerce site in the company of big league firms like Facebook and Uber, who have surpassed the $1 billion funding mark.

Flipkart’s funding has definitely left founders Sachin Bansal and Binny Bansal (they are unrelated to each other) on a high. But this year showed signs of being significant for the company ever since it bought out fashion portal Myntra for an estimated $330 million. The deal was definitely a turning point for Flipkart, with the founders expressing their ambition to make it a $100 billion company in five years.

Clearly, the Myntra acquisition was just a start to what the Bansals had on their minds for the company.

Firstpost’s senior editor Anant Rangaswami had earlier caught up with co-founder and CEO Sachin Bansal and Mukesh Bansal, CEO, Myntra and head of fashion, Flipkart, to understand the ramifications of the Flipkart-Myntra deal, how it would prove advantageous for both companies, the changing fashion landscape in India and much more. Watch the video interview for more.