The Darwin’s famous theory. The phrase “Survival of the fittest” can be used in the context where a company is able to sustain in the volatile global market.
Recently I thought to order few books and then came to know about Flipkart 10th Anniversary Sale.
Flipkart which was founded by Sachin Bansal & Binny Bansal in 2007, both alumni of the IIT,Delhi. Worked in Amazon came a long way.
After 3 years that is 2010 they started the acquisition game and now they have big names on their acquisition list.
Not only they acquired Myntra they brought its rival Jabong the fashion shopping website too.
Might payzippy was a failure but they realized the power of digital money before demonetization and acquired payment start-up PhonePe In April-2016. In the recent sale, they are promoting PhonePe badly by offering 30% Cashback. I decided not to install it today as I already have 7 digital payment app on my One Plus 3 phone.
A couple of years ago there were much fish in e-commerce market but today buy from Myntra, Jabong or Flipkart, Flipkart will get the benefit.
Flipkart 10th Anniversary Sale is being promoted from the home page of Jabong and Myntra as well.
Where is Snapdeal?
It cut throat competition Flipkart survived, took full benefit of digital tools and the big fish is going to eat Snapdeal now. Once Flipkart acquires Snapdeal then only 2 competitors will be left in market i.e PayTm and Amazon. I believe competition is necessary too.
Though Snapdeal acquisition will benefit Tiger Global more than Flipkart but doesn’t seem a bad deal in long run.
Till now I purchased from all the above-mentioned site to test them or to get better products. Even today I ordered 3 books from Flipkart to get few more drops of knowledge available in it.
Lets’ see what will be the next step after Snapdeal acquisition.
Jasper Infotech has terminated negotiations for the proposed sale but US retail giant Walmart Inc will pick up a 77% stake in India’s largest online retailer Flipkart for $16 billion, successfully concluding more than 20 months of talks, in what will be the country’s largest acquisition and the world’s biggest purchase of an ecommerce company.
Again I ordered 3 books but this time from Amazon only after comparing the price on http://www.gemquotes.in/search/ to save some money.