Build story · India · 2007–2018
Flipkart: cash on delivery and a $16 billion Walmart deal
Two former Amazon engineers started selling books online, made cash on delivery standard, built their own logistics, and sold 77% of Flipkart to Walmart for $16 billion in 2018.
By Shivam Bhandari · Reviewed 31 October 2026 · How we write
by the numbers
- Founded
- 2007, Bengaluru
- Cash on delivery introduced
- 2010
- Walmart stake (2018)
- about 77%
- Walmart deal value
- about $16 billion
What happened
Sachin Bansal and Binny Bansal (not related), who had worked at Amazon, founded Flipkart in Bengaluru in 2007, starting with books. Few Indians trusted online payments or owned credit cards.
In 2010 Flipkart made cash on delivery a core option, letting customers pay at the door — a turning point for Indian e-commerce. It built its own delivery network, Ekart, because courier services were unreliable, and introduced easy returns. It expanded into electronics and fashion, buying Myntra in 2014, and acquired PhonePe in 2016. Its ‘Big Billion Day’ sales became national events.
In May 2018 Walmart agreed to buy about 77% of Flipkart for about $16 billion, then the world's largest e-commerce acquisition.
Timeline
- 2007
Flipkart starts selling books.
- 2010
Cash on delivery launched.
- 2014
Myntra acquired; first Big Billion Day.
- 2016
PhonePe acquired.
- 2018
Walmart deal.
what made it work
- Cash on delivery solved the trust barrier.
- Own logistics improved reliability.
- Big sale events drove adoption.
the lesson
Adapting a proven model to local trust and payment habits — like cash on delivery — can unlock a whole market.
Apply it to your business
- 1Remove the payment or trust barrier your customers face.
- 2Build infrastructure where existing partners are unreliable.
- 3Big events can bring first-time customers online.
Laws at work in this story
Figures are rounded and drawn from public reports, company filings and widely cited coverage at the time. Check the company's latest filings before relying on any number.