 "Flipkart names Kalyan Krishnamurthy as CEO; here's a look at Flipkart's journey since 2007")
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 |
End of Article
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