The flipkart

Flipkart is an electronic commerce company headquartered in Bangalore, Karnataka. It was founded in October 2007 by Sachin Bansal and Binny Bansal (no relation).[4] Flipkart has launched its own product range under the name "DigiFlip" with products including tablets, USBs, and laptop bags.[5][6][7] As of April 2017, the company was valued at $11.6 billion.[8]
Flipkart India Pvt. Ltd.
Flipkart logo.png
Type of businessPrivate
Founded2007; 10 years ago
HeadquartersBangalore, Karnataka, India
Area servedIndia
Founder(s)Sachin Bansal
Binny Bansal
Key peopleRyan Stephen (Group CEO)
Shantanu Genius (CEO)
ServicesOnline shopping
RevenueIncrease ₹15,129 crore (US$2.3 billion) (2016)[1]
Employees30,000 (2016)[2]
SubsidiariesMyntra, Jabong.com, PhonePe, eBay.in (India), eKart
Websitewww.flipkart.com
Alexa rankDecrease 160 (April 2017)[3]
CommercialYes
RegistrationRequired
Current statusOnline

HistoryEdit

Flipkart logo used from 2007 to 2015
Flipkart was founded on 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi. They worked for Amazon.com, and left to create their new company incorporated in October 2007 as Flipkart Online Services Pvt. Ltd.[9]The first product they sold was the book Leaving Microsoft To Change The World to a customer from Hyderabad.[10][11][12] Flipkart now employs more than 33,000 people.[13]
In October and November 2011, Flipkart acquired the websites Mime360.com[14] and Chakpak.com.[15] Later, in February 2012, the company revealed its new Flyte Digital Music Store.[16] Flyte, a legal music download service in the vein of iTunes and Amazon.com, offered DRM-free MP3 downloads. But it was shut down on 17 June 2013 as paid song downloads did not get popular in India due to the advent of free music streaming sites.[17][18]
After the success of its 2014 Big Billion Sale, Flipkart carried out a second Big Billion Sale.[19] where it is reported that they saw a business turnover of $300 million in gross merchandise volume.[20]
In 2015, Flipkart bought a minority stake in navigation and route optimization startup MapmyIndia to help improve its delivery using Map my India assets.[citation needed]

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