Flipkart is an e-commerce company based in Bengaluru, India. It was founded in October 2007 by Sachin Bansal and Binny Bansal (unrelated). 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 in 2007 by Sachin Bansal and Binny Bansal, both former students of the Indian Institute of Technology Delhi. They worked for Amazon.com and stopped creating 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 Hyderabad customer. 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 unveiled its new Digital Music Store Flyte. Flyte, a legal music download service in the vein of iTunes and Amazon.com, offers DRM-free MP3 downloads. But it was closed on June 17, 2013 as paid song downloads were not popular in India due to the arrival of free music streaming sites.