Flipkart founder: How I sold my business to Walmart for $16 billion (via CNBCMakeIt)
. But it might not have been if it weren't for three important attributes that set the young founders apart, Binny Bansal told CNBC's Christine Tan in a recent episode of "Managing Asia."
"When we started Flipkart, we were really focusing on books, just one category and focusing on getting the customer experience right for our books," said Bansal, whose business model has frequently been likened toThat differed from the dominant approach in 2007, when the company started and several other businesses were trying to cash in on India's growing appetite for e-commerce, he said.
As a result, the company has had to iterate and offer incentives as it has, over the years, expanded its offering to include electronics, fashion and digital payments, he said.Secondly, said Bansal, they built a company for the 21st century by putting technology at the heart of everything. As such, Bansal and his co-founder Sachin, a fellow Amazon alumnus, implemented technology into all facets of the business, not just the website itself. That included building it into the marketing, supply chain and pricing sides, he said.
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