Walmart-backed e-commerce giant Flipkart ended the operations of ANS Commerce, which it acquired in 2022. This Gurugram-based unit was acquired for ₹300 crore.
“After careful consideration, ANS Commerce, a full-stack e-commerce enabler acquired by Flipkart in 2022, has decided to close its operations. As we wind down operations, we stay committed to ensuring a smooth transition for all stakeholders, including employees and customers,” Flipkart said.Â
The company also added, “To minimise the impact on employees during this transition, we plan to offer internal opportunities at Flipkart, outplacement services, and severance packages.”
ANS Commerce was founded in 2017, specialising in helping brands build and scale their online presence through customised e-commerce solutions. Its acquisition by Flipkart was seen as a strategic move to strengthen the offering for brands looking to expand their online retail footprint.
The number of employees impacted by the closure has not been disclosed yet. However, there were around 600 employees at the end of the 2022 fiscal year.
The Flipkart business model is very different from other e-commerce models. The Bansal Duo started it after quitting their years of job at Amazon. But not every idea works. Harsh Pokharna, an IItian who quit his job at Flipkart to launch a startup, struggled to thrive in the competitive market.Â
In a recent Instagram post, he said he quit Flipkart to build a startup because he wanted to make a lot of money quickly.
“Founders were raising millions of dollars in funding all around me. It seemed easy. But, the reality?” he wrote in his post.
“It’s a long-term game, not a get-rich-quick scheme. Play it only if you truly want to solve a problem, or you’ll end up disappointed.”
This makes it clear that not all ideas work, and not everybody can survive in a competitive market. To stand strong and thrive, it takes lots of courage, dedication and patience.
