History Flipkart
flipkart logo used 2007 2015
flipkart founded on 2007 sachin bansal , binny bansal, both alumni of indian institute of technology delhi. worked amazon.com, , left create new company incorporated in october 2007 flipkart online services pvt. ltd. . flipkart employs more 33,000 people.
in october , november 2011, flipkart acquired websites mime360.com , chakpak.com. later, in february 2012, company revealed new flyte digital music store. flyte, legal music download service in vein of itunes , amazon.com, offered drm-free mp3 downloads. shut down on 17 june 2013 paid song downloads did not popular in india due advent of free music streaming sites.
after 2014 big billion sale, flipkart carried out second big billion sale. reported saw business turnover of $300 million in gross merchandise volume.
in 2015, flipkart bought minority stake in navigation , route optimization startup mapmyindia improve delivery using map india assets.
acquisitions
2010: weread, social book discovery tool.
2011: mime360, digital content platform company.
2011: chakpak.com, bollywood news site offers updates, news, photos , videos. flipkart acquired rights chakpak s digital catalogue includes 40,000 filmographies, 10,000 movies , close 50,000 ratings. flipkart has categorically said not involved original site , not use brand name.
2012: letsbuy.com, indian e-retailer in electronics. flipkart has bought company estimated us$25 million. letsbuy.com closed down , traffic letsbuy has been diverted flipkart.
2014: acquired myntra.com in estimated ₹20 billion (us$310 million) deal.
2015: flipkart acquired mobile marketing start-up appiterate strengthen mobile platform.
2016: flipkart’s myntra acquires rival fashion shopping site jabong $70 million.
2016: in april, flipkart acquired payment start-up phonepe.
2017: in january, flipkart funded parenting network tinystep $2 million.
2017: in april, in exchange equity stake in flipkart, ebay agreed make $500 million cash investment in , sell ebay.in business flipkart; however, according company statement ebay.in continue operate separate entity flipkart.
2017 : in july, flipkart offered snapdeal amount of $700-$800 million, snapdeal rejected deal wanted sum of minimum $1billion cash.
^ flipkart online services pvt. ltd . tofler.in. retrieved 18 february 2015.
^ ordered first book flipkart , book it? . quora. retrieved 22 may 2014.
^ flipkart goes fashion branding – times of india . timesofindia.indiatimes.com. retrieved 5 october 2013.
^ geetika rustagi (4 august 2010). order next mobile on flipkart . livemint. retrieved 19 august 2010.
^ . flipkart.com. retrieved 22 may 2014.
^ nikhil pahwa. flipkart acquires mime360; launch digital distribution of music, e-books, games . medianama.com. retrieved 14 october 2011.
^ flipkart acquires digital content bollywood news site chakpak . vccircle. 23 november 2011. retrieved 1 december 2011.
^ lal, abhinav (24 february 2012). flipkart launch flyte digital store in march . digit. india: 9.9 media. retrieved 27 february 2012.
^ exclusive: flipkart shutdown flyte mp3 store; exit digital music business . nextbigwhat. retrieved 29 may 2013.
^ flyte mp3 store shutting down . thinkdigit. retrieved 29 may 2013.
^ why flipkart shut down flyte music . medianama. retrieved 29 may 2013.
^ flipkart announces big billion sale – free press journal .
^ big billion day sale $300 million . financial express. 19 october 2015. retrieved 4 november 2015.
^ flipkart buys social book discovery tool weread . vccircle. retrieved 15 june 2011.
^ updated: s official flipkart acquires letsbuy.com . medianama.com. 9 february 2012. retrieved 9 february 2012.
^ flipkart buys letsbuy in cash-equity deal . business standard. 11 may 2012. retrieved 9 february 2012.
^ dr. flipkart.com declared patient letsbuy.com dead . fivepoint5. retrieved 31 may 2012.
^ big deal: flipkart acquires online fashion retailer myntra . indian express. retrieved 22 may 2014.
^ flipkart acquires us-based startup appiterate . indianweb2. retrieved 29 april 2015.
^ flipkart-owned myntra acquires fashion , lifestyle site jabong . 26 july 2016.
^ flipkart acquires upi-based payments start-up phonepe . mint. 4 april 2016.
^ flipkart funds parenting network tinystep 2 million dollars . news18. 2017-01-17. retrieved 2017-01-17.
^ sn, vikas (10 april 2017). flipkart raises $1.4bn tencent, ebay & microsoft @ $11.6bn valuation, acquires ebay india . economic times. retrieved 20 april 2017. puneet
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