10 Things You Didn’t Know About Walmart and Flipkart

by August 13, 2018 0 comments

Walmart and Flipkart deal is one of the largest Merger and accusation deals in the country. After, the green signal from the competition commission of India (CCI), the position of Walmart stands stronger in the booming e-commerce market.

Meanwhile, in the entire buzz around Walmart-Flipkart relationship, we take a moment to sharpen our grey matters with the fundamentals regarding the two giant organizations.

Walmart-Flipkart

  1. In 2007, the e-commerce giant was founded by Sachin Bansal and Binny Bansal. They both are alumni of IIT Delhi and colleagues at Amazon.
  2. Flipkart started off as an Online Bookstore and was a well-planned step taken by both the founders. The first book sold by them was – Leaving Microsoft to change the World. Where Sachin packed the book and Binny was the delivery Boy.
  3. The Big Billion Day Sale of Flipkart turned the ways for the Bansal duo. Started in 2015, it crossed the Amazon market share and sold goods and products worth $200 million. The sale got bigger in the next year and earned $225 million for Flipkart.
  4. The Bansal duo also made it to the Forbes India Rich List of 2015 and 2016 with being part of the Time Magazine esteemed list of 100 Most Influential People.
  5. The Founder of Walmart – Sam Walton bought the first store in 1945. It was branch of local food chain – Ben Franklin. It was later opened in 1962 in other cities.
  6. Sam Walton used to work with Army Intelligence Corps during the World War II prior to starting of a chain of departmental stores.
  7. The retail giant was listed on NY Stock Exchange in 1972. By 1988 it was the most successful retailer in U.S. and by October 1989, Walmart was the highest in terms of its revenue.
  8. Every week more than 260 million people go shopping at Walmart. With this huge footfall, it makes a profit of $1.8 million every hour.
  9. Hillary Clinton was on the Walmart Board of directors for a 6 year tenure.
  10. Last but not the least, it was sued for over 4,851 times in 2000.

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