5. Sachin and Binny Bansal: Writing Indian e-commerce Story

The Bansal friends started Flipkart in 2007 which is hailed today as India’s Amazon. Initially the idea was to make comparison website but there were too less sites to compare, and so they started Flipkart. Focusing initially on online sales of books, it later expanded to electronic goods and a variety of other products. Flipkart offers multiple payment methods like credit card, debit card, net banking, e-gift voucher, and Cash on Delivery.

Most Decisive Moment: Both the founders studied in IIT-Delhi before joining Amazon. They were drawing big salary, but seeing shortcomings in Indian e-commerce market, they took a major decision to quit their jobs and start their own company. They built a website and started tying up with book distributors for the inventory. It took almost 4 months and a million flyers to get their first book sold. And today is the situation that more than 6 books are sold on their website every minute.