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Shopsy is a zero-commission marketplace model for sellers in India. It is a digital commerce initiative by Flipkart, the Bengaluru-headquartered and Walmart-owned e-commerce company with over US$7.7 billion in annual revenue (FY 2022). [21] [22]
The website was kicked off in October 2007 and the company was only limited to selling books at that time country-wide shipping. [15] Flipkart slowly grew in prominence and was receiving 100 orders per day by 2008. [16] Flipkart acquired WeRead in 2010 from Lulu.com that helped it build its foundational strength which was the digital retail of ...
In 2018, Bansal exited Flipkart following the Walmart deal. [6] In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in 2018 was $20.8 billion. [7] In 2018, Bansal held a 5.5 per cent stake in Flipkart, which he sold to Walmart and his net worth then was a little over $1 billion. [7]
India has an Internet user base of about 690.0 million as of November 2023, about 40% of the population. [1] Despite being the second-largest user base in world, only behind China (1.079 billion, 48% of population), the penetration of e-commerce is low compared to markets like the United States (266 million, 84%), or France (54M, 81%), but is growing, adding around 6 million new entrants every ...
As per government, ONDC will charge 8–10% of the selling price of the product compare to 18–40% charged by Amazon and Flipkart. The commission rate is not fixed and will be decided by market forces. [56] Small retailers are also less to fear that the platform will open dark stores. [57] Restaurants will have access to customer data. [58]
Flipkart Health+ (formerly known as SastaSundar Healthbuddy Limited), [2] is a e-commerce platform dealing in healthcare, online pharmacy, diagnostics and e-consultation in India. [ 3 ] [ 4 ] The company was co-founded in 2013, by Banwari Lal Mittal and Ravi Kant Sharma with the name SastaSundar Healthbuddy in Kolkata. [ 5 ]
In 2011, Myntra began selling fashion and lifestyle products and moved away from personalisation. By 2012, Myntra offered products from 350 Indian and International brands. The website launched the brands Fastrack Watches and Being Human. [12] In 2014, Myntra was acquired by Flipkart in a deal valued at ₹ 2,000 crore (US$240 million
To sell products to non-metro buyers, Snapdeal identified a need to engage and entertain, just like in physical bricks-and-mortar settings. In February 2021, Bahl shared in an interview with KrASIA that "Snapdeal's engagement with this new and a large part of our existing user base is built on three key themes of video, voice, and vernacular.