So what's come in your mind when you read the word mafia? Everyone will assume that mafia is a world related to crime world or gangster, but it's not like that. So what does flipkart mafia means?
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| FLIPKART MAFIA |
MEANING OF FLIPKART MAFIA
Flipkart mafia basically means a fellowship of the the employees working in flipkart who leaved their job and they started their own startup which later on became highly successful. Not all flipkart employees resigned from their job, but a certain number of people have resigned and then reached the height of glory by starting their own startup.
HOW IT ALL STARTED
Flipkart was founded in October 2007 by Sachin Bansal and Binny Bansal, alumni of the IIT, Delhi and former Amazon employees. The company initially focused on online book sales with country-wide shipping. Flipkart slowly grew in prominence and was receiving 100 orders per day by 2008.
REASON BEHIND EMPLOYEES LEAVING FLIPKART?
The main reason for employees leaving flipkart was that it doesn't provide a good job culture among the employees and the rest are as follows :
- Less salary to the employees : Flipkart was not giving the salary as per the capacity of the person. They were paying less to thier employees.
- No Salary increments : Flipkart was not giving salary increments to thier employees and the employees were also not given the bonus.
- Mismatched Salary with duty : The employees were not given a decent amount for thier work. They were paid less for thier work.
All these things created a negative impact on employees and they were in hussle to leave the job from flipkart.
POSITIVE IMPACT OF FLIPKART
Now we see the positive impact of flipkarts bad working conditions. Due to bad working conditions the employees were leaving thier job and starting thier own startup, now a question comes in your mind how flipkart bad working conditions help in this.
Let me tell you how, due to low Salary, people get to know how to reduce expenses of oneself and the organization . No Salary increments gave them a hope,a courage to start thier own startup and rest is the history.
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| Source Credit : The representative |
STARTUP FOUNDED BY FLIPKART MAFIA
- UDAAN : Udaan was founded by former Flipkart employees, Amod Malviya, Sujeet Kumar, Vaibhav Gupta, this startup perfectly fits its name ‘Udaan’. That is to say, Udaan gives wings to millions of entrepreneurs running India’s micro, small and medium size enterprises that are blood and bone of Indian economy.
- NAVI TECHNOLOGIES : Navi Technologies is an emerging unicorn, which taps into the immense potential of BFSI (banking, financial services, and insurance) sector, having created a lending app that offers paperless personal / home loans to consumers with just a few clicks. It was founded by Sachin Bansal former employee of flipkart.
- GROWW : Investing is a futuristic goal, likewise, a startup in this sector in India is futuristic too. Out of a billion people, less than 1% invest in the share market. Sensing the need of you and me to invest in return rich stocks, mutual funds, gold, and more from the safety and convenience of our homes, this online venture was started by Harsh Jain, Ishan Bansal, Lalit Keshre, and Neeraj Singh.
- PhonePe : How can we not talk about this mobile payment app, which revolutionized digital payments for the Indians? PhonePe took on Paytm, which simply wasn’t easy when ‘Paytm karo’ jingle became synonymous with digital literacy.
- CURE.FIT : Fitness is something that fires the imagination of youth as much as money, fame and love because one naturally flows from the other. A fit body houses a fit mind, is an adage as old and as true as science itself. Yet, importance of good health can never be over stressed. Cure.fit takes this into consideration and has designed multiple fitness programs for each type of customer – the dance lover, Yoga enthusiast, meditative type or the diet freak. Online classes as well as physical fitness centre, they have it all.Ankit Nagori, Mukesh Bansal are responsible for pushing this shift further.
- EXOTEL : Exotel was founded in 2011, by Shivakumar Ganesan, Ishwar Sridharan, and Siddharth Ramesh. Exotel is a cloud telephony platform that empowers small and medium-scale companies to carry on with their usual work seamlessly.
HOW FLIPKART MAFIA CHANGED INDIAN STARTUP ECOSYSTEM
The Indian startup ecosystem is poised to grow 2.2X to reach over 10,500 startups by 2020, according to a report released by NASSCOM in collaboration with Zinnov, last year. India stands third globally, in the number of tech startups it hosts, warding off close competition from Israel and China.
What is fuelling this acceleration is not only rising exposure to the Internet, technology, favourable government policies, foreign funding, but also legacy businesses that are now a decade-old and nurturing entrepreneurship in the country.
As per our findings, there are over 207 startups that have been founded by ex-employees of Flipkart. But it doesn’t stop there. Our data also shows that there are over 49 Indian startups that have been backed by Flipkart, Flipkart founders, and/or current and ex-employees.
Almost three startups are added to the gang every month, taking the Flipkart Mafia’s strength to a massive 250+ startups.
FINAL WORDS
Flipkart has changed the fate of indian Startups. It all started with two former executives of the global ecommerce giant, Amazon – two IIT Delhi 2005 batchmates and Chandigarh natives, Sachin Bansal and Binny Bansal, began an online platform just for selling books in 2007.Flipkart has now become one of the biggest ecommerce marketplaces in India with a registered customer base of over 100 Mn, has more than 80 Mn products across 80+ categories, more than 1 Lakh + registered sellers, having raised over $4.55 Bn in combined funding and is now valued at about $11.2 Bn. These numbers show the trajectory of a company’s humble beginnings to its almost unprecedented success despite devaluations by investor and changes in leadership.
Happy Learning
Team,The Successlogy
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