India’s largest e-commerce firm Flipkart is planning to consolidate its offices in Bangalore and set up a 1.5 million square feet campus that will have the capacity to house 12,000 people. We all are aware of the recent news about Myntra and Flipkart deal. Flipkart acquired Myntra at $330 million which was the biggest Merger & Acquisition (M&A) deal in India’s e-commerce history.
There are 8 offices of Flipkart in Bangalore, till date. The company is also planning to hire more number of people to meet the rising demands of the customers. It is also planning to increase the offices to accommodate the new hires as well as manage the existing employees. Flipkart is promoted by Flipkart India Pvt. Ltd. The company has hired property consultant Jones Lang Lasalle, to find builders for the project, as the project is expected to be completed by 2017. The Flipkart new campus RFP (Request for proposal) aims at consolidating all Flipkart offices into one big office. Flipkart is also planning to have several regional offices across India. Though Flipkart had bought Myntra for $330 million, yet they are functioning as separate entity. It is doubtful whether the new campus will host the employees of Myntra as well.
Earlier, the Venture Capitalists weren’t interested to invest in Indian internet firms as they did not find much growth in Indian Market. The scenario before two years was entirely different, compared to the current e-business scenario. Indians refrained themselves from online shopping as the touch and feel of the product was more important. Today, people are more comfortable with internet shopping as it saves time and most of the goods are reasonably cheaper than the physical market.
Flipkart has raised around $ 1 billion from the current investors including DST Global, Accel Partners as well as the new investors. There are possibilities of two more investors to join Flipkart, India’s largest e-commerce market. We hope to see a lot more investors in future.