Flipkart is an electronic commerce company headquartered in Bangalore, Karnataka. It was founded in October 2007 by Sachin Bansal and Binny Bansal (no relation). Flipkart has launched its own product range under the name “DigiFlip” with products including tablets, USBs, and laptop bags. As of April 2017, the company was valued at $11.6 billion.
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. The first product they sold was the book Leaving Microsoft To Change The World to a customer from Hyderabad. Flipkart now employs more than 33,000 people.
In October and November 2011, Flipkart acquired the websites Mime360.com and Chakpak.com. Later, in February 2012, the company revealed its new Flyte Digital Music Store. 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.