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2007–2010: Start-up phase[edit]
Flipkart was founded in October 2007 in Bangalore[11] by Sachin Bansal and Binny Bansal, alumni of the IIT, Delhi and former Amazon employees.[12][13][14] The company was started from a two-bedroom apartment in Kormangala, Bengaluru. The initial investment was provided by their families, which was INR 2 Lakh from each family. The website was kicked off in October 2007 and the company was only limited to selling books at that time country-wide shipping.[15] Flipkart slowly grew in prominence and was receiving 100 orders per day by 2008.[16] Flipkart acquired WeRead in 2010 from Lulu.com that helped it build its foundational strength which was the digital retail of books. This space was otherwise only shared by very limited number of players at that time in the market, such as Landmark and Infibeam. Flipkart used aggressive discounts and focused on customer service to move towards a leadership position in the market. WeRead consisted of a large network of readers (~3 million) with around 60 million books. The platform also noted information that was user generated – such as people marking a book as favorite or leaving a review or rating. WeRead, because of its utility to community and independent nature maintained its brand identity even after acquisition[17][18]

2011–2014: Growth, mergers and acquisitions[edit]
In 2011, Flipkart acquired the digital distribution business Mime360.com[19] and the digital content library of the Bollywood portal Chakpak.[20] Following the acquisition, Flipkart launched its DRM-free Digital music store Flyte in 2012. Due to competition from free streaming sites, Flyte was unsuccessful and shut down in June 2013.[21][22][23][24] Mime360 was a content distributor that used HTTP-based encryption technology that allows for fast and secure data delivery. It distributed music, media and games using its distribution platform.[25]

With its eyes on India's retail market, Flipkart acquired Letsbuy, an online electronics retailer,[26] in 2012, and Myntra, an online fashion retailer, for US$280 million in May 2014.[27] Myntra continues to operate alongside Flipkart as a standalone subsidiary focusing on separate market segments.[28]

In October 2014, Flipkart reprised the Big Billion Days event as a multi-day event exclusive to the Flipkart app. Flipkart bolstered its supply chain and introduced more fulfillment centers to meet customer demand.[29] Flipkart achieved a gross merchandise volume of US$300 million during the event, with the largest volumes coming from fashion sales and the largest value coming from mobiles.[30]

In 2014, Flipkart invested in Ngpay to strengthen the mobile payment services since there was an increased focus on mobile ecommerce; Flipkart reported that mobile ecommerce was contributing 50% of its sales. Investment in Ngpay was followed by Flipkart shutting Payzippy – the in-house payment gateway and merged it with Ngpay. The Ngpay mobile application could be used to buy services and products through the mobile phones.[31]

2015–2018[edit]
In April 2015, Flipkart acquired Appiterate, a Delhi-based mobile marketing automation firm. Flipkart stated that it would use Appiterate's technology to enhance its mobile services.[32] In December 2015, Flipkart purchased a stake of around 34% (at a deal of around $260 million)[33] in the digital mapping provider MapmyIndia.[34] The company also invested in the UPI mobile payments startup PhonePe same year.[35][36] The two entities, PhonePe and Flipkart, separated as two different companies later.[37]

In 2016, Flipkart acquired the online fashion retailer Jabong.com from Rocket Internet for US$70 million and in January 2017, Flipkart made a US$2 million investment in TinyStep, a parenting information startup.[38]

In 2017, Flipkart sold 1.3 million phones in 20 hours on 21 September during its Big Billion Days promotion, doubling the number sold on the first day of the same event in 2016.[39] Flipkart held a 51% share of all Indian smartphone shipments in 2017, overtaking Amazon India (33%).[40]

In April 2017, eBay announced that it would sell its Indian subsidiary, eBay.in, to Flipkart and invest US$500 million in the company. While eBay suggested that the partnership would allow Flipkart to access eBay's network of international vendors, these plans never came to fruition.[41][42] In July 2017, Flipkart made an offer to acquire its main domestic competitor, Snapdeal, for US$700 to 800 million. It was rejected by Snapdeal, which was seeking at least US$1 billion.[43]

In August 2018, American retail chain Walmart acquired a 77% controlling stake in Flipkart for US$16 billion, valuing Flipkart at around US$20 billion.[44] Flipkart is valued at $37.6 billion as of 2022.[45] It is planning to go public through a listing in the United States of America in 2023.[46]

In November 2018, Wal Mart increased the equity of Flipkart to 81.3%.[47]

On 13 November 2018, Flipkart CEO Binny Bansal resigned after facing an allegation of "serious personal misconduct". Walmart stated that "while the investigation did not find evidence to corroborate the complainant's assertions against Binny, it did reveal other lapses in judgment, particularly a lack of transparency, related to how Binny responded to the situation."[48][49]

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Africa is the world's second-largest and second-most populous continent after Asia. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 20% of Earth's land area and 6% of its total surface area.[7] With nearly 1.4 billion people as of 2021, it accounts for about 18% of the world's human population. Africa's population is the youngest among all the continents;[8][9] the median age in 2012 was 19.7, when the worldwide median age was 30.4.[10] Despite a wide range of natural resources, Africa is the least wealthy continent per capita and second-least wealthy by total wealth, ahead of Oceania. Scholars have attributed this to different factors including geography, climate,[11] corruption,[11] colonialism, the Cold War,[12][13] and neocolonialism. Despite this low concentration of wealth, recent economic expansion and the large and young population make Africa an important economic market in the broader global context. Africa has a large quantity of natural resources and food resources, including diamonds, sugar, salt, gold, iron, cobalt, uranium, copper, bauxite, silver, petroleum, natural gas, cocoa beans, and tropical fruit.

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Africa is the world's second-largest and second-most populous continent after Asia. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 20% of Earth's land area and 6% of its total surface area.[7] With nearly 1.4 billion people as of 2021, it accounts for about 18% of the world's human population. Africa's population is the youngest among all the continents;[8][9] the median age in 2012 was 19.7, when the worldwide median age was 30.4.[10] Despite a wide range of natural resources, Africa is the least wealthy continent per capita and second-least wealthy by total wealth, ahead of Oceania. Scholars have attributed this to different factors including geography, climate,[11] corruption,[11] colonialism, the Cold War,[12][13] and neocolonialism. Despite this low concentration of wealth, recent economic expansion and the large and young population make Africa an important economic market in the broader global context. Africa has a large quantity of natural resources and food resources, including diamonds, sugar, salt, gold, iron, cobalt, uranium, copper, bauxite, silver, petroleum, natural gas, cocoa beans, and tropical fruit.

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Africa is the world's second-largest and second-most populous continent after Asia. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 20% of Earth's land area and 6% of its total surface area.[7] With nearly 1.4 billion people as of 2021, it accounts for about 18% of the world's human population. Africa's population is the youngest among all the continents;[8][9] the median age in 2012 was 19.7, when the worldwide median age was 30.4.[10] Despite a wide range of natural resources, Africa is the least wealthy continent per capita and second-least wealthy by total wealth, ahead of Oceania. Scholars have attributed this to different factors including geography, climate,[11] corruption,[11] colonialism, the Cold War,[12][13] and neocolonialism. Despite this low concentration of wealth, recent economic expansion and the large and young population make Africa an important economic market in the broader global context. Africa has a large quantity of natural resources and food resources, including diamonds, sugar, salt, gold, iron, cobalt, uranium, copper, bauxite, silver, petroleum, natural gas, cocoa beans, and tropical fruit.


The continent is surrounded by the Mediterranean Sea to the north, the Arabian Plate and the Gulf of Aqaba to the northeast, the Indian Ocean to the southeast and the Atlantic Ocean to the west. The continent includes Madagascar and various archipelagos. It contains 54 fully recognised sovereign states, eight cities and islands that are part of non-African states, and two de facto independent states with limited or no recognition. This count does not include Malta and Sicily, which are geologically part of the African continent. Algeria is Africa's largest country by area, and Nigeria is its largest by population. African nations cooperate through the establishment of the African Union, which is headquartered in Addis Ababa.


Africa straddles the equator and the prime meridian. It is the only continent to stretch from the northern temperate to the southern temperate zones.[14] The majority of the continent and its countries are in the Northern Hemisphere, with a substantial portion and a number of countries in the Southern Hemisphere. Most of the continent lies in the tropics, except for a large part of Western Sahara, Algeria, Libya and Egypt, the northern tip of Mauritania, and the entire territories of Morocco, Ceuta, Melilla, and Tunisia, which in turn are located above the tropic of Cancer, in the northern temperate zone. In the other extreme of the continent, southern Namibia, southern Botswana, great parts of South Africa, the entire territories of Lesotho and Eswatini and the southern tips of Mozambique and Madagascar are located below the tropic of Capricorn, in the southern temperate zone.


Africa is highly biodiverse;[15] it is the continent with the largest number of megafauna species, as it was least affected by the extinction of the Pleistocene megafauna. However, Africa also is heavily affected by a wide range of environmental issues, including desertification, deforestation, water scarcity, and pollution. These entrenched environmental concerns are expected to worsen as climate change impacts Africa. The UN Intergovernmental Panel on Climate Change has identified Africa as the continent most vulnerable to climate change.[16][17]


The history of Africa is long, complex, and varied, and has often been under-appreciated by the global historical community.[18] Africa, particularly Eastern Africa, is widely accepted to be the place of origin of humans and the Hominidae clade, also known as the great apes. The earliest hominids and their ancestors have been dated to around 7 million years ago, including Sahelanthropus, Australopithecus africanus, A. afarensis, Homo erectus, H. habilis and H. ergaster, the earliest Homo sapiens (modern human) remains, found in Ethiopia, South Africa, and Morocco, date to circa 233,000, 259,000, and 300,000 years ago, respectively, and Homo sapiens is believed to have originated in Africa around 350,000–260,000 years ago.[a] Africa is also considered by anthropologists to be the most genetically diverse continent as a result of being the longest inhabited.[25][26][27]

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