Flipkart is perhaps India’s largest home grown e commerce platform today and it has quite a success story to its name. Founded in the year 2007 by Sachin Bansal and Binny Bansal, this platform was founded with a meagre Rs. 6,500 as a startup fund.
Both were Amazon techies working at creating the next big thing. Little did they know that the idea was just around the corner. Bored with their mundane jobs, Sachin and Binny wanted to create a search engine dedicated to e commerce websites. However, they soon realised that there were very few websites of this kind and this when they came up with something like Flipkart.
They left their jobs in the hopes of shaping the future of e commerce in India at a time when this field was steadily growing. Both of them loved books and founded Flipkart as a platform that catered to book lovers. Want anything, Flipkart made it available. In fact, that is what Flipkart means: Flipping things into the cart. A couple of months into the business, they realised they had a larger target audience to tap.
In the first few years of its existence, Flipkart raised funds through venture capital funding. As the company grew in stature, more funding arrived. Flipkart repaid the investors’ faith with terrific performances year after year. In the financial year 2008-09, Flipkart had made sales to the tune of Rs. 40 million. This soon increased to Rs. 200 million in the following year.
When Flipkart launched, e commerce websites faced one major problem, that of online payment gateways. Back then, not many people trusted paying on the internet. Flipkart tackled this problem by introducing cash on delivery and payment by card on delivery in addition to others. Flipkart was the first to implement the ‘Cash On Delivery’ facility, which every online shopping website in India offers as an option today.
Over the years, as faith was established in Flipkart’s business and easy delivery processes, the acquisitions became higher and the rewards became larger. With Sachin Singh as the Chairman of the company and Binny Singh as the CEO, Flipkart stands as the largest online e commerce platform in the country. Walmart is in talks to invest in this online platform and once the investment goes through, Flipkart and Amazon will stand neck to neck. What started off as only a platform for books has now become a platform for pretty much anything from technology to stationary!
Flipkart managed to open the doors to an e commerce friendly India and this was only possible because of the founders who created and not just thought. A true success story like this doesn’t come too often and when it does, it makes sense to stand up and notice.
Fun Facts About Netflix
Gone are those days when you would have to spend your pocket money on buying DVDs to watch your favourite films. This is the 21st century and in this age of technology, whether it is for watching a popular film or your favourite web shows, you know where to reach—Netflix, of course! With new films, documentaries and shows being added on a daily basis, Netflix is the most popular streaming platform in the world. Today, we bring you some interesting facts about Netflix which may surprise you.
Fun facts about Netflix
1) Though Netflix started renting out DVDs only from 1998, it was founded in 1997 by Reed Hastings and Marc Randolph. This makes Netflix a year older than Google.
2) Netflix was originally called Kibble. Kibble was the name of Netflix’s co founder Marc Randolph’s dog. This name was to remind everyone, “No matter how good the advertising, it’s not a success if the dogs don’t eat the dog food.”
3) House of Cards was not the first original content produced by Netflix. Netflix made a test video called Example Show in 2010. In this 11 minute long test video, you can find pretty inane content like an actor moonwalking with a laptop and reciting a monologue from Julius Caesar. You can still watch it on Netflix.
4) As of October 2018, Netflix accounts for 15 % of the world’s web traffic and approximately 36.5 % of North America’s web traffic. If Netflix did not compress its videos, this number would have been three times higher. YouTube, which is also a streaming platform, accounts for 11.4 % percent of the web traffic.
5) In 2013, Netflix hosted an award show of its own and aptly titled it “The Flixies.” It allowed users to vote for their favourite films and shows under various categories.
6) Orange Is The New Black, 13 Reasons Why, The Crown, House Of Cards and Stranger Things are some of the most watched Netflix original series.
7) Netflix is available in more than 190 countries, from Australia and Europe to most parts of Asia. However, it is most popular in the U.S.
8) As of January 2019, Netflix has around 139 million paying subscribers. More than 58 millions of these subscribers are U.S. based.
9) In 2014, a glitch caused the summaries of various titles to merge, creating completely hilarious and ridiculous summaries. One summary which appeared to combine the Power Rangers installments with Inglourious Basterds read, “The Samurai Rangers get stuck in the Megazord’s cockpit on Christmas Even when it breaks down. Can the Rangers get out and assassinate Adolf Hitler?”
10) Netflix was instrumental in coining the word “binge watch,” when it started to release its series’ episodes all at once.
Which of these facts about Netflix surprised you the most? Comment and let us know.
5 Lessons Every Entrepreneur Can Learn From Walt Disney
The man who changed his passion for art into a multi billion dollar media empire, Walter Elias Disney or Walt Disney, as he is popularly known, was an artist, entertainer, film producer, entrepreneur and philanthropist.
The Walt Disney Company, founded by him and valued at approximately $ 130 billion, is the second largest broadcasting and cable company in the world. Walt Disney managed to shape the childhoods of billions of kids all around the world by giving us our most memorable cartoon characters—Mickey Mouse being the most popular of them all.
Here are some lessons every entrepreneur can learn from Disney’s life.
1) Follow your passion
The most important lesson entrepreneurs can learn from Walt Disney is to do what you love. If you are doing it for the money, then it probably won’t last. Walt Disney loved drawings and cartoons so much, he devoted his life to them and amassed a huge empire because of this passion. There were times when he took up odd jobs just so he could fund his passion. Because he loved drawings so much, he overcame every hardship which came his way and emerged victorious. When you do what you love doing, no day feels like work and no hurdle too hard to cross.
2) Do what they say is impossible
“If you can dream it, you can do it.”
— Walt Disney.
When Walt Disney first started his work, thousands of people criticised him, saying that no one would sit through an entire animated feature film. These comments from people, however, could not stop him because he never ceased to believe in himself or his dreams. Snow White and the Seven Dwarfs was the first feature animated film made by Walt Disney and it received a standing ovation at the end of almost every screening. All the other animated films like Alice In Wonderland, Cinderella and Fantasia, made and produced by Disney, proved to be huge successes, especially among children. Apart from this, he was also told a theme park with a mouse as its central character would scare people and no one would be interested in it. Thanks to Walt Disney’s self belief, today we have Disneyland and Mickey Mouse is known across the world.
3) Try one more time
Walt Disney was one such person who faced a lot of failure and rejection in his initial days. His first animation studio, Laugh-O-Gram Studio, which was home to many pioneers of animation, never made any notable profits. At a point in his life, he became penniless, lost his studio, his creators and his equipment, but one thing he never lost was his willpower to try again. From this willpower of his came the world’s most loved cartoon character—Mickey Mouse.
4) Be a risk taker
Walt Disney as an entrepreneur was never afraid to take risks. There were many instances where the future of the entire Walt Disney Company depended on whether the new venture he took up was successful or not. The riskiest idea he ever ventured into was Disneyland. Many people, including his brother turned business partner Roy O. Disney, urged him to give up on the idea. If Disneyland failed, the entire Company would be shut down, but Disney took the risk. Today, Disneyland is one of the most profitable theme parks in the world.
5) Never settle
Disney created Mickey Mouse and it became a huge success, but he did not stop there. He went on to create Minnie Mouse, Donald Duck, Pluto and other iconic characters. What made The Walt Disney Company a multi billion dollar empire is the fact Walt never stopped improving. After one accomplishment, he would go on to another and then another. He never settled after just one accomplishment. Always look for ways to improve yourself and your business.
Walt Disney, who started from humble beginnings, became a business mogul and an animation pioneer. His journey is nothing less than remarkable.
We hope you found these lessons helpful. If you did, comment and let us know.
Things You Didn’t Know About Mark Zuckerberg
Mark Zuckerberg, the CEO and founder of Facebook, is arguably one of the most influential people in the world. At the age of 35, as of May 2019, he is the 8th richest person in the world and has a net worth of $ 67.3 billion. Here are some lesser known facts about him.
Things you didn’t know about Mark Zuckerberg
1) Mark Elliot Zuckerberg was born on May 14th, 1984 and since childhood, he was passionate about programming. At the age of 12, he created an instant messaging program called ZuckNet, to help his dentist father know when the patients arrived.
2) Zuckerberg was approached by several companies, including AOL and Microsoft, even before he finished high school, but he turned down their job offers.
3) Zuckerberg has red-green colour blindness and this is the main reason why the logo of Facebook is blue.
4) You cannot block Mark Zuckerberg or his wife Priscilla Chan on Facebook. Apparently, the couple have been blocked so many times on Facebook, the algorithm does not allow you to do so anymore. Have you ever tried doing this?
5) The guests who attended Zuckerberg’s wedding with Priscilla Chan were actually told they were being invited to attend Priscilla’s graduation ceremony. The wedding ceremony was quite a surprise to them.
6) Zuckerberg tends to go to despicable lengths to protect his privacy. Once, a developer tried to build a large house which would have a view of Zuckerberg’s master bedroom. After this incident, Zuckerberg spent around $ 44 million to buy all the houses surrounding his Palo Alto home.
7) Many big companies like Microsoft, Google, Viacom and Yahoo tried to buy Facebook, but Zuckerberg turned down all their offers.
8) Mark Zuckerberg is a fitness buff and takes fitness very seriously. In 2016, he set a goal to run 365 miles in a year and ended up completing it half way through the year.
9) Zuckerberg signed the Giving Pledge agreement and promised to give away at least 50 % of his wealth in his lifetime.
10) Zuckerberg himself designed his wife’s wedding ring, which is a ruby edged on either side by diamonds.
11) His annual salary at Facebook is $ 1.
12) Zuckerberg holds 50 patents to his name. The first one was for the Synapse Media Player, which he designed in senior high school.
Which of these facts about Mark Zuckerberg interested you the most? Comment below and let us know.
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