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Flipkart.com is one of India’s leading e-commerce platforms, serving as a pioneer in the online retail industry. Established in 2007 by Sachin Bansal and Binny Bansal, who were both former employees at Amazon, the company has grown exponentially over the years, transforming the way Indians shop for a wide range of products. With its vast product offerings, innovative business strategies, and customer-centric approach, Flipkart has not only redefined the e-commerce landscape in India but also left a significant impact on the global market.

The story of Flipkart began in Bangalore, India when Sachin and Binny Bansal, who are not related, realized the immense potential of the e-commerce market in the country. At that time, online retailing was still in its infancy in India, with limited options for consumers to shop online. The lack of established players in the market presented an excellent opportunity for the duo to create a platform that could address the growing demands of Indian consumers seeking convenience and access to a wide variety of products.

With a modest initial investment from their own savings, Sachin and Binny Bansal set out on their entrepreneurial journey. They began by selling books online, owing to their low cost and ease of handling. Their dedication to customer satisfaction and efficient delivery systems quickly earned them a loyal customer base.

As Flipkart gained momentum, it expanded its product categories beyond books, progressively including electronics, fashion, home appliances, and more. The company’s commitment to offering quality products at competitive prices, coupled with its robust supply chain and logistics, set it apart from its competitors.

One of the turning points in Flipkart’s growth came with its adoption of the “Cash on Delivery” payment option. This move addressed the concerns of Indian consumers who were hesitant to make online payments due to security reasons and a general lack of trust in online transactions. This innovation significantly boosted customer confidence and expanded the company’s reach to millions of potential customers across the country.

Flipkart’s introduction of smartphone applications in the early 2010s revolutionized the way people shopped. The convenience of shopping from smartphones contributed to the widespread adoption of the platform and made Flipkart a household name.

Funding and Acquisitions

As Flipkart’s popularity soared, it attracted attention from investors and venture capitalists. Over the years, the company secured substantial funding from various sources, including Tiger Global Management, Accel Partners, and Tencent, among others. This influx of funds allowed the company to invest in technology, infrastructure, and marketing, solidifying its position as a market leader.

To further strengthen its position and expand its offerings, Flipkart pursued strategic acquisitions. In 2014, it acquired Myntra, a prominent online fashion retailer, solidifying its presence in the fashion segment. The company continued its acquisition spree by purchasing Jabong, another fashion e-commerce giant, further reinforcing its dominance in the fashion industry.

While Flipkart achieved remarkable success, it also faced formidable challenges. One of the most significant hurdles came in the form of competition from global e-commerce giant Amazon, which entered the Indian market in 2013. The battle for market share between Flipkart and Amazon intensified, leading to aggressive marketing campaigns, competitive pricing, and exclusive product launches to attract and retain customers.

Flipkart had to grapple with logistical challenges unique to India, such as complex transportation infrastructure and varying regional preferences. However, the company’s ability to adapt and innovate allowed it to navigate these obstacles successfully.

In 2018, one of the most significant events in Flipkart’s history took place when it was acquired by Walmart Inc., the world’s largest retailer, for a staggering $16 billion. The acquisition represented Walmart’s aggressive push into the Indian market and further solidified Flipkart’s position as a dominant player in the e-commerce space. The deal allowed Flipkart to leverage Walmart’s extensive global supply chain and retail expertise while maintaining its brand identity and autonomy.

Flipkart.com has played a transformative role in revolutionizing e-commerce in India. Starting as an online bookstore, the company’s vision, innovative strategies, and customer-centric approach have led to its tremendous growth and success. With the backing of Walmart, Flipkart continues to thrive and expand its reach, bringing a diverse range of products and services to millions of Indian consumers. As the Indian e-commerce industry continues to evolve, Flipkart remains at the forefront of innovation, driving the digital retail revolution in the country.

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