Flipkart

Flipkart is an e-commerce company founded in 2007, by Sachin and Binny Bansal. It is registered

in Singapore, and owned by a Singapore-based holding company. It operates in India, where it is headquartered in Bangalore, Karnataka. According to Alexa Internet, Flipkart's website is one of the 10 most visited websites in India. Flipkart has launched its own product range under the name "DigiFlip", offering camera bags, pen-drives, headphones, computer accessories, etc.

Legally, Flipkart is not an Indian company since it is registered in Singapore and majority of its shareholders are foreigners. Because foreign companies are not allowed to do multi-brand e-retailing in India, Flipkart sells goods in India through a company called WS Retail. Other third-party sellers can also sell companies too can sell on the Flipkart platform.

Acquisitions

• 2010: WeRead, a social book discovery tool.
• 2011: Mime360, a digital content platform company.
• 2011: Chakpak.com, a Bollywood news site that offers updates, news, photos and videos. Flipkart acquired the rights to Chakpak's digital catalogue which includes 40,000 filmographies, 10,000 movies and close to 50,000 ratings. Flipkart has categorically said that it will not be involved with the original site and will not use the brand name.
• 2012: Letsbuy.com, an Indian e-retailer in electronics. Flipkart has bought the company for an estimated US$25 million. Letsbuy.com was closed down and all traffic to Letsbuy have been diverted to Flipkart.
• 2014: Acquired Myntra.com in an estimated INR 2,000 crore deal.