Accusation

In 2011, Flipkart acquired the digital distribution business Mime360.com and the digital content library of the Bollywood portal Chakpak. Following this acquisition, Flipkart launched their DRM-free online music store Flyte in 2012. Because of competition from free streaming sites, the site was unsuccessful and shut down in June 2013.

With its eyes on India’s retail market, Flipkart acquired Letsbuy, an online electronics retailer, in 2012, and Myntra, an online fashion retailer, for $280 million in May 2014. Myntra continues to operate alongside Flipkart as a standalone subsidiary focusing on separate market segments.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. In December 2015, Flipkart purchased a minority stake in the digital mapping provider MapmyIndia. In 2016, Flipkart acquired the online fashion retailer Jabong.com from Rocket Internet for $70 million and the UPI mobile payments startup PhonePe. In January 2017, Flipkart made a $2 million investment in TinyStep, a parenting information startup.Flipkart invested $35 million in Arvind Fashions Limited’s newly formed subsidiary Arvind Youth Brands for a 27% stake in the company. Arvind Youth Brands owns Flying Machine.

Flipkart Wholesale recently launched a digital platform for kiranas and MSMEs. In October 2020, Flipkart acquired a 7.8% stake in Aditya Birla Fashion and Retail for $204 million.