Flipkart crosses 100 million registered customer milestone

Flipkart crosses 100 million registered customer milestone

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Homegrown e-tailer has crossed the 100-million registered users mark, becoming the first e-commerce company in the country to hit the milestone. The Bengaluru-based company has doubled its user base over the last year and added 25 million users in the past six months alone.

Flipkart crosses 100 million registered customer milestone
A recent Bank of America Merrill Lynch Report pegged Flipkart as the leader with over 43 per cent market share

“This is a small step in our efforts to build a platform that provides quality products, affordable and accessible to millions of Indians shopping online. This milestone has further energized us to ramp-up our efforts and build a world-class shopping destination,” Co-founder and CEO, Flipkart, said.

One of the most valued start-ups in the country, Flipkart has Tiger Global, Accel Partners, Morgan Stanley and T Rowe among its investors. The company has raised over US$ 3 billion in funding so far and has acquired companies like , and . It has also invested in start-ups like Cube26, NestAway and BlackBuck.

A recent Bank of America Merrill Lynch Report pegged Flipkart as the leader with over 43 per cent market share. It forecast that by 2019, Flipkart would increase its share to 44 per cent.

READ MORE: Flipkart is back with third edition of ‘Big Billion Days’ sale

According to a PTI report: E-commerce companies in India have witnessed tremendous growth on the back of strong demand for smartphones and increasing data usage. India, which is among the fastest growing e-commerce markets globally, is expected to continue on the growth momentum over the three to five years.

US online retailer Amazon and Chinese heavyweight Alibaba are making significant investments in India to capture the nascent market here.

India is being seen as an opportunity globally with a significant chunk of foreign investments flowing into the sector in companies like Flipkart, and .