Following the acquisition, Flipkart launched their DRM-free online music store Flyte in 2012. In 2011, Flipkart acquired the digital distribution business and the digital content library of the Bollywood portal Chakpak. In 2010, Flipkart acquired the Bangalore-based social book discovery service WeRead from. Flipkart slowly grew in prominence and was receiving 100 orders per day by 2008. The company initially focused on online book sales with country-wide shipping.
History įlipkart was founded in October 2007 in Mumbai by Sachin Bansal and Binny Bansal, alumni of the IIT, Delhi and former Amazon employees. Flipkart has a dominant position in the apparel segment, bolstered by its acquisition of Myntra, and was described as being "neck and neck" with Amazon in the sale of electronics and mobile phones. As of March 2017, Flipkart held a 39.5% market share in the Indian e-commerce industry. The service competes primarily with Amazon India and domestic rival Snapdeal. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products. Flipkart Private Limited is an Indian e-commerce company, headquartered in Bengaluru, and incorporated in Singapore as a private limited company.
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