The India based e-commerce company flipkart, reaches $1Billion annual GMV (Gross Merchandise Value). Sachin Bansal and Binny Bansal, the former Amazon employees who founded Flipkart in 2007, expected to reach this goal only in 2015. The company had a GMV of $10Million in march of 2011 and from then on grew 100X pretty quickly.
In an interview,Binny Bansal said
“With this scale, we are in a much better position this year to explore acquisitions across the areas we have identified,… India, especially, is extremely different from the rest of the world. Consumer maturity is at a different stage, transport/logistics is still largely disorganized, the tax structure is different,…We understand and have solved for these uniquely Indian problems and the kind of data we have with us today in terms of consumer preferences and market needs puts us way ahead of others, at least in the domestic ecosystem.”
Tech Always 