Bengaluru based e-commerce company Flipkart which termed 2017 a year of “revival of confidence in the Indian consumer internet industry” is now intend to boost its monthly active transacting customers as the key metric in 2018.
“We have seen a very big confidence boost. The ecosystem in India is now very clear that there is a market leader in India in ecommerce with a huge margin…..They have (Tencent, SoftBank, eBay, Microsoft) synonymised growth in the Indian internet market with Flipkart,” CEO Kalyan Krishnamurthy was quoted as saying in an interview to ET.
According to Krishnamurthy 2017 remained a year of “revival of confidence in the Indian consumer internet industry”. Japan’s SoftBank, China’s Tencent and eBay and Microsoft from US were major which gave fund of $4 billion for e-retailer during just concluded year.
40-45 per cent of the Indian e-commerce market is controlled by Flipkart, which owns online fashion retailers Myntra and Jabong and payments app PhonePe.
Flipkart is the only company which is growing the market through innovations and has been able to establish market leadership in all the major segments of the online retail market in India,” feels Krishnamurthy.
“I am not going anywhere. I am very very committed to take Flipkart to new heights.”
Kalyan Krishnamurthy, elevated to CEO of Flipkart after Co-founder Sachin Bansal became group CEO in January 2017.