Rakuten in the company in August 2007 and, in 2010, it announced a joint venture with Baidu in China (Lekutian). In June 2011, Rakuten acquired Brazilian e-commerce firm Ikeda — since renamed Rakuten Brazil. In July, it bought German e-commerce start-up Tradoria and rebranded it Rakuten Deutschland, and in September UK online retailer and e-commerce marketplace Play.com for £25 million (almost $41 million), which was converted into the points-based loyalty program Rakuten.co.uk. In September 2011, Rakuten took a minority equity stake in Russian online retailer Ozon.ru, dubbed "Russia's Amazon", which had reported 2010 sales worth US$137 million. A four-company-strong consortium, led
Flipkart acquired the Bangalore-based social book discovery service weRead from Lulu.com. In late 2011, Flipkart made several acquisitions relating to digital distribution, including Mime360.com and the digital content library of Bollywood portal Chakpak. In February 2012, the company unveiled its DRM-free online music store Flyte. However, the service was unsuccessful due to competition from free streaming sites, and shut down in June 2013. In May 2012, Flipkart acquired Letsbuy, an online electronics retailer. In May 2014, Flipkart acquired Myntra, an online fashion retailer, for . Myntra continues to operate alongside Flipkart as a standalone subsidiary; the site focuses on an upscale,