Accel Partners funded online retailer Flipkart.com has expanded its offerings beyond books to include sale of music, movies and games, with labels including Moser Baer, T-Series, BIG Video, Times Music, EMI and others on board, claiming to have 20,000 movie titles and over 12,000 music titles, and games for PS, PS2, PS3, Wii, Xbox and PCs. I couldn’t find an old games title (Starcraft), though. Flipkart claims to sell over a book a minute, and is targeting 3000 Movie/Music CD/DVDs per month initially and 20,000 CD/DVDs per month by the end of the year. They’re also planning to start sales of software like Norton Anti-virus, Adobe, Windows, and others.
The expansion, from a product portfolio perspective, is a natural one - movies, music and games are all standardized products; the issues that many other online retailers that operate without significant quality checks is that they operate as marketplaces, connecting vendors with customers and don’t have their own warehousing or sourcing directly from manufacturers. Must say that, based on (lots of) anecdotal feedback from digital industry execs who are Flipkart customers, they appear to have filled that gap; am yet to hear a negative review of Flipkart, which is unusual in the digital space.
In an interview with CNBC-TV18′s Young Turks (below), Flipkart said that they did revenues of Rs. 25 crore in the 2009-10 fiscal, and according to the release, they’re targeting Rs 100 crore by March 2011. The company makes 10% from the sale of every book. Their team size appears to be increasing quickly, from 120 in march to 200 members now. They have offices in Bangalore, Mumbai and Delhi.
We’ve contact Flipkart for more on their expansion plans, and will update with more details
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