Flipkart names Kalyan Krishnamurthy as CEO; here's a look at Flipkart's journey since 2007

What started off as an ecommerce site which was renowned for selling books are discounted rates, Flipkart has a come a long way. Here is a look at Flipkart's journey from its founding days to date.


Flipkart is India's leading e-commerce company, just ahead of Amazon India. In a major shake-up that happened at the company on 9 Jan, a former executive of the US hedge fund and Flipkart's early investors Tiger Global, Kalyan Krishnamurthy was named as the CEO of Flipkart. Current CEO and co-founder of Flipkart, Binny Bansal will handle a broader strategic role of Group CEO.

Bansal will lead the newly formed Flipkart Group and focus on strategy, mergers and acquisitions, the company said in a statement late on Monday. Flipkart said Sachin Bansal will remain executive chairman, providing strategic direction and will work closely with Binny Bansal on the new business portfolio. It was around this time last year, that Sachin Bansal had stepped down as CEO of Flipkart as well, with the reins handed over to Binny Bansal.

What started off as an ecommerce site which was renowned for selling books are discounted rates, Flipkart has a come a long way. Here is a look at Flipkart's journey from its founding days to date.

Time Milestone
October 2007 Flipkart founded by Sachin Bansal and Binny Bansal after an initial investment of Rs 4 lakh by each founder. Registered in Singapore, but headquartered in Bengaluru
October 2008 Flipkart is formally incorporated
November 2009 Accel Partners invests $1mn at a valuation of $2.61mn
June 2010 Raises $10mn from Tiger Global at a valuation of $36mn
July 2010 Flipkart adds mobile phones as a category in addition to books and CDs/DVDs
December 2010 Acquires book-recommendation network weRead (A Bengaluru startup founded in 2007)
February 2011 Flipkart adds cameras and computers as categories
March 2011 Flipkart Revenue reaches $8mn
April 2011 Flipkart launches first TV commercial
June 2011 Raises $20mn in a fresh round of funding from Tiger Global
July 2011 Flipkart adds MP3 players and Healthcare as new categories
August 2011 Flipkart adds Home Appliances as a category
October 2011 Flipkart adds TV and Video as a category
October 2011 Acquires Mime360 for investments in digital distribution of books, movies, music and games
November 2011 Flipkart adds stationery and kitchen appliances as a category
November 2011 Acquires bollywood news site Chakpak
November 2011 Launches prepaid wallet that lets users shop upto Rs 10,000
January 2012 Raises $150mn from MIH and ICONIQ Capital along with Tiger Global and Naspers at a valuation of $850mn
February 2012 Acquires online electronics store Letsbuy for a speculated $20mn
February 2012 Flipkart launches digital music store Flyte
March 2012 Flipkart revenues at $33.51mn while losses of $18mn
April 2012 Flipkart adds Fragrances as a category
May 2012 Flipkart adds Belts and Bags as a category
August 2012 Flipkart adds Babycare as a category
August 2012 Raises $150mn in a fresh round of funding from Nasper and Tiger Global
October 2012 Flipkart adds Mens wear as a category
November 2012 Flipkart adds eBooks as a category
November 2012 Enforcement Directorate (ED) raids Flipkart's Bengaluru warehouse to probe alleged violation of FDI regulation
February 2013 Flipkart adds Women's wear as a category
February 2013 Sells WS Retail to OnMobile COO Rajiv Kucchal
March 2013 Flipkart revenues at over $200mn; loss at $46.09mn
April 2013 Flipkart launches seller marketplace
June 2013 Amazon enters the Indian market
June 2013 Flipkart shuts down the Flyte music score and the Flyte brand
July 2013 Raises $200mn from Naspers, Accel Partners, Tiger Global and ICONIQ Capital
July 2013 Flipkart launches payment gateway service PayZippy
August 2013 Launches Flipkart eBooks app
September 2013 Flipkart launches Android app
October 2013 Raises $160mn from Dragoneer Investment Group, Morgan Stanley Investement Management, Sofina, Tiger Global and Vulcan Capital
December 2013 Flipkart launches one-day delivery in select cities for Rs 90, a move following Amazon's one-day delivery offering
December 2013 Flipkart launches consumer wallet PayZippy in partnership with ecommerce sites
March 2014 Flipkart reaches $1bn gross merchandise
May 2014 Flipkart acquires online fashion retailer Myntra for Rs 2000 crore
May 2014 Raises $210mn from DST Global, Tiger Global, Naspers, ICONIQ Capital
May 2014 Flipkart First announced - a subscription service with exclusive benefits and priority features
August 2014 Flipkart raises $1bn - funding round co-led by Tiger Global and Naspers. Valuation taken to $5bn. Focussed on making long term strategic investements in Mobile technology
October 2014 Flipkart announces Big Billion day sales with heavy discounts and an equally frustrated customer base
March 2015 Flipkart buys AdIquity Technologies, a mobile advertising firm
March 2015 Flipkart and Myntra shut down their mobile websites, pushing for app downloads instead
March 2015 Flipkart reports sales of $1.52bn; losses stand at $294mn
April 2015 Flipkart ties up with Airtel for the controversial Airtel Zero - a aero rated service which violated the basic tenets of net neutrality
April 2015 Post the backlash on the Airtel Zero platform, Flipkart pulls out of the partnership
July 2015 Flipkart Raises $700mn at a valuation of $15bn. Investors include Steadview Capital and other existing investor
July 2015 Announces strategic partnership with Home Town, HomeStop and @Home for home retail products
August 2015 Flipkart launches Ping, a messaging service within its app
October 2015 Flipkart launches Big Billion Days, app crashes were routine again
January 2016 Sachin Bansal steps down as Flipkart CEO and becomes Executive Chairman; appoints Binny Bansal as successor
February 2016 Mukesh Bansal, Head of Commerce Platform, quits Flipkart
April 2016 Punit Soni, Chief Product Office, quits Flipkart
June 2016 Flipkart shuts down image search as well as its Ping social network
July 2016 Flipkart's fashion arm Myntra buys Jabong for $70mn
August 2016 Flipkart Assured launched to take on Amazon Prime
August 2016 Flipkart opens office in the Silicon Valley
September 2016 Apple partners with Flipkart to sell iPhone 7/7 Plus
October 2016 Flipkart announces third Big Billion Daysale before Diwali season
December 2016 Flipkart announces Big Shopping Days sale before the winter holiday season
December 2016 Flipkart announces sale of OnePlus, which is an Amazon exclusive, amidst much confusion
January 2017 Flipkart names former Tiger Global executive Kalyan Krishnamurthy as CEO; Binny Bansal becomes Flipkart Group CEO

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